RBGPF - Durex Owner Reckitt Benckiser Taps Into China's Livestreaming Trend To Sell Condoms Online | Benzinga
Reckitt Benckiser Group (OTC:RBGLY) (OTC:RBGPF) is leveraging the popularity of livestream shopping in China to sell condoms, a move that could be challenging due to strict regulatory oversight.
What Happened: The British consumer goods company, which owns the Durex brand, is testing the waters of livestreaming as a sales channel for condoms in China, Reuters reported. This initiative is part of Reckitt’s strategy to expand its share of the $5 billion-plus condom market in China.
Livestreaming has been a driving force behind the e-commerce boom in China, generating sales of $238 billion in 2022. This figure is expected to exceed $300 billion by 2025, according to research firm eMarketer.
Reckitt has already experienced success with livestreaming household products in China. However, selling condoms through this platform may prove more challenging due to the stringent regulation of sex-related content online.
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Despite these challenges, the potential of the Chinese condom market is estimated to reach $5.2 billion in 2024, according to the China Business Research Institute. It is a compelling opportunity for Reckitt. The company currently holds a 40% market share as of 2020, according to Daxue Consulting.
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