What is live shopping?
In China, it is a $500 billion market. In the US, it is set to grow fivefold from 2020 to 2026. Live shopping is one of the fastest-growing trends in e-commerce today. It involves promoting products and services to a live online audience and allowing merchants around the world to engage their customers, build their brands and increase their sales to today’s young, always-on consumers.
Don’t miss out.
Driven by Alibaba and other social media platforms, live streaming has grown exponentially in China and now represents almost 20% of all e-commerce. In other countries, tech giants such as Amazon, TikTok, YouTube and Instagram are developing platforms for live shopping and are actively courting influencers. Major retailers have run live stream events with charismatic hosts in the US, using formats such as product tutorials, behind-the-scenes videos and celebrity interviews, complete with games, quizzes and giveaways for viewers.
How merchants benefit.
Live shopping is a fun and compelling way to connect to consumers, increase engagement and deepen customer relationships. Live shopping is suitable for a broad range of use cases, companies in sectors such as fashion, beauty, home decoration consumer electronics are using the format to enhance their brand appeal, especially to Gen Z. A report by Klarna found that 38% of shoppers preferred the experience to traditional e-commerce. L’Oréal saw a 300% increase in sales in one hour of live shopping compared to one day of ecommerce activity. And Livescale reports that live shopping can increase brand sales by 3 to 6 times and customer acquisition rates up to 40%.
Will Live shopping become successful as it is in China also in the rest of the world? For now live shopping has not yet reached the same heights and it is still in the experimentation stage. Tests by early pioneers have shown that it’s critical to adopt a live shopping strategy that allows to connect with the consumers and create relevance to the markets served. Moreover, due to the different shopping behaviour, it’s important to consider how live shopping connects with the current customer journey in order to deliver a differentiating and pleasant customer experience..
Solutions & who we serve
Worldline has partnered with Livescale to boost the global adoption of live shopping. The partnership combines Livescale’s embeddable Live Shopping software with Worldline’s connected checkouts, increasing e-commerce sales conversion rates and allowing consumers to complete payment for their purchase while staying in the live video experience.
Find out more
 https://www.forbes.com/sites/johnkoetsier/2022/01/22/livestream-shopping-a-500-billion-market-in-2022-as-amazon-google-facebook-tiktok-jump-in/?sh=360964613bc5 https://coresight.com/research/coresight-bites-livestreaming-e-commerce-gains-ground-in-the-us/
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