Livestream shopping or live commerce is the biggest trend to look out for in the retail world. Livestream shopping combines the excitement of live videos with the satisfaction of shopping your favourite products right from the video. Live shopping may seem like advanced technology in the west, however, in China it has already become the hottest way of making record sales.
Alibaba introduced Taobao Live way back in 2016, and since then this mode of sale has seen tremendous growth. Livestream gave the audience the combined advantage of live viewing and e-commerce in one place. This was especially popular during important retail days in China, like Singles' Day.
During the pandemic of 2020 the trend saw explosive growth, due to people being stuck at home with not much to do but surf on the internet. E-commerce everywhere gained massive importance as stores were shut for safety precautions, and live shopping became an instant hit. Especially in China, this led to more and more social media channels introducing livestream shopping in their apps.
Apart from Taobao Live, there's also Douyin and Kuaishou that lead the livestream shopping market in China. Similarly, in the west, the popular apps that have begun livestream shopping are Instagram, Facebook, Amazon, Twitch, Youtube amongst others. Many brands are starting to use this avenue to reach their audience.
Livestream is bound to continue gaining popularity, and retail brands must choose the right strategy to stay ahead of the livestream shopping trend. Adopting a different strategy for the eastern and western channels is the best way to move forward, as the markets function very differently in these regions.
This document takes us through the highlights of this brand new mode of shopping and the top brands using this channel.
- Fashion Live-Streaming e-commerce in China
- Taobao KOLs
- Circular Economy
- Live-Streaming Business Cases in China
- Live-Streaming Business Cases in West
- Key Takeaways
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