{"id":25493,"date":"2021-07-30T04:56:35","date_gmt":"2021-07-30T04:56:35","guid":{"rendered":"https:\/\/rbsitsoftwaresolution.com\/blog\/livestream-e-commerce-why-companies-and-brands-need-to-tune-in.html"},"modified":"2021-07-30T04:56:35","modified_gmt":"2021-07-30T04:56:35","slug":"livestream-e-commerce-why-companies-and-brands-need-to-tune-in","status":"publish","type":"post","link":"https:\/\/www.rbsitsoftwaresolution.in\/blog\/livestream-e-commerce-why-companies-and-brands-need-to-tune-in.html","title":{"rendered":"Livestream e-commerce: Why companies and brands need to tune in"},"content":{"rendered":"

What comes to mind<\/span> when you think of livestreaming? In the U.S., most people would name their favorite celebrity leading a QA on Instagram or a gamer doing a speedrun on Twitch.<\/p>\n

In China, it\u2019s shopping, streamed live.<\/p>\n

Livestream e-commerce has taken off in China in the last few years and is expected to yield more than $60 billion this year<\/a>. In 2019, 37% of online shoppers<\/a> in China (a cool 265 million people) made purchases on livestreams \u2014 and that was well before quarantine. In 2020, it\u2019s estimated to have reached around 560 million people.<\/p>\n

During Taobao\u2019s annual Single\u2019s Day Global Shopping Festival in 2020 (China\u2019s Black Friday), livestreams accounted for $6 billion in sales<\/a> \u2014 nearly doubled from a year earlier.<\/p>\n

Starting to see a trend? The big U.S. companies have noticed, and they\u2019re jumping on the bandwagon faster than you can say, \u201cSwipe up to buy now!\u201d<\/p>\n

Last December, Walmart livestreamed shopping events on TikTok. Amazon released a live platform<\/a> where influencers promote items and chat with customers. Instagram launched a Shop feature that encourages users to browse and buy within the app. Facebook also kicked off Live Shopping Fridays<\/a> for the beauty and fashion categories.<\/p>\n<\/p>\n

Startups are growing fast to keep up with the heavy hitters \u2014 PopShop.Live raised $20 million<\/a> to let people buy everything from books and toys to jewelry from sellers who livestream their offerings, and Whatnot raised a $50 million<\/a> Series B, largely to expand its livestream commerce infrastructure. There\u2019s also a burgeoning category of SaaS tools such as Bambuser, which is working with brands like Klarna to test native livestream shopping<\/a> directly within branded apps.<\/p>\n

At this pace, retailers will all welcome livestream commerce teams like they have influencer partnerships in recent years. It\u2019ll just be part of the digital equation to stay competitive and relevant in the future of marketplaces and e-commerce.<\/p>\n

From B.C. to 5G: The evolution of shopping<\/h2>\n

What is old is new again. Your grandparents spent years watching QVC because it balanced the experience of speaking with an associate with the convenience of their retirement community\u2019s TV room. Livestream is today\u2019s version of \u201cshoptainment,\u201d where hosts showcase products dynamically, interact with their audiences and build urgency with short-term offers, giveaways and limited-edition items.<\/p>\n

Now, with livestream commerce, hosts can form deeper customer connections and answer questions in real time. It\u2019s a new standard of communication that holds a longstanding truth from Istanbul\u2019s Grand Bazaar to smartphones: People shop to kill time and are more likely to buy when they feel connected with a salesperson.<\/p>\n

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Article source: http:\/\/feedproxy.google.com\/~r\/techcrunch\/social\/~3\/21rNJO5gQr4\/<\/p>","protected":false},"excerpt":{"rendered":"

What comes to mind when you think of livestreaming? In the U.S., most people would name their favorite celebrity leading a QA on Instagram or a gamer doing a speedrun <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[3],"tags":[10,7,14,15,6,12,11],"class_list":["post-25493","post","type-post","status-publish","format-standard","hentry","category-latest-update","tag-computer-news","tag-downloads","tag-microsoft-download-news","tag-networking-updates","tag-technology-update","tag-wordpress-plugin-download","tag-wordpress-theme-download"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t