11/14/2023 0 Comments Live market stream![]() Facebook, for example, launched Live Shopping Fridays where consumers can enjoy shoppable live videos from beauty and fashion brands. ![]() Amazon and Facebook already enable shoppable livestream events on their platforms with brands like Petco and Sephora taking advantage of the new functionality. While still relatively new in the US, the livestreaming market is expected to surpass $25 billion by 2023. It remains a popular form of ecommerce, with roughly 265 million Chinese shoppers making a purchase from a livestream in 2019 alone. Livestream shopping first emerged in China in 2017 on platforms like Taobao, Weibo and WeChat, with estimates suggesting the value of live shopping to account for 20.3% of China’s total online shopping GMV in 2022. Audiences can also interact with the stream in real time using Likes and reactions, helping brands further strengthen their relationships with customers. Viewers can ask the host questions about the product during the livestream or chat with other viewers for their feedback and opinions. It’s also referred to as live shopping, shopstreaming or retail live streaming.īut unlike QVC, livestream shopping builds on social commerce and enables viewers to engage with the program host through features like a chatbox or poll. There’s a host, typically an influencer or celebrity, who highlights a product on the stream and viewers can purchase said product during the broadcast. Much like watching a home shopping network, livestream commerce operates in a similar fashion. As retailers increasingly experiment with shoppable live video, here’s what marketers need to know about the latest social ecommerce trend. Retailers and social platforms outside of China are eager to capitalize on this new commerce opportunity, with brands like the Home Depot already testing out their own livestream experiences. In the first half of 2020, there were more than 10 million ecommerce live-streaming sessions online and by March there were 560 million people watching live-streams in China. The pandemic further accelerated the popularity of livestream commerce. In China, livestream shopping is already worth an estimated $66 billion and influencers like Viya regularly attract viewers in the millions to their streams. But instead of pushing products through sponsored posts or links, Viya is selling millions of dollars worth of stuff through her video livestreams.Ī cross between a video stream, variety show and group chat, livestream shopping is the next big thing in interactive social commerce. Known as Viya to her fans, the Chinese influencer makes a living selling her fans everything from cosmetics to mattresses to houses to doorbells. If you’re in need of a rocket launcher, Huang Wei can sell you one for roughly $5.6 million.
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