Everyone can be a livestreamer as long as he or she has a smartphone and a network, but no industry threshold means heavier competitive pressure, which requires hosts to be more professional and the team to provide more professional backup in crafting an ecommerce marketing plan, Lam stressed.

"Only in this way are you able to attract a growing number of viewers and make them become frequent buyers," he added.

The e-commerce expert said he thinks mainland regulators will introduce measures to set a standard for livestreaming sales circle and to clarify which qualifications livestreaming hosts will need.

Noting that the pandemic has created a new landscape for the city's retail industry, Lam said he believes retailers here are capable of catching up with their mainland counterparts and the city, as an international financial hub, trade and logistic center, has the potential to play a crucial role in e-commerce, bridging the mainland and overseas markets.

Lam suggested that the city's retailers reconsider what they can do to optimize their own products and services, then gradually reduce their dependence on tourist shopping and expand into overseas markets.