Livestream Shopping Experiences
Of most of the markets’ behaviors amidst the COVID-19 pandemic, E-commerce has arguably propelled the furthest. In fact, it’s been estimated that e-commerce growth in Europe is up 40-80%, and up 80% in North America. I mean, if that’s not an astonishing figure all amidst a financial crisis, I truly don’t know what is. Because of this, we’ve seen stock like Shopify and BigCommerce benefiting as they aim to support brands in their online presence. Streamlined and interactive online shopping experiences are a key here as brands seek to innovate this space. Enter livestream shopping.
Remember the dominant days of infomercials and QVC? A new direct to consumer approach similar to this is dawning on many online retailers. Livestream shopping marries the social experience with an internet presence in the era of shop-by-Instagram-or-Tik-Tok. It’s genius, and China is ahead of the market on it. In China, online shopping is often met with influencers or celebrities live streaming shopping trips. Because of their audience, they’re able to reach a record amount of people in real-time, creating a more authentic experience. In China, over 100 million viewers watch live online content every month, and they’re expected to reach over $5 billion in the coming years.
The U.S. has been slow to adopt this. Only a few years ago did Amazon launch Amazon Live, a similar shopping experience to that of QVC. Instagram and Facebook Live Streaming features have mostly been used for interviews, fundraisers, etc., and not necessarily to take viewers along on shopping trips. Perhaps culturally the American market is sensitive to this behind-the-scenes take on shopping on a personal level, but it would certainly benefit department stores or retailers in explaining their latest collections. Take Moda Operandi, for example. The leading force in tech-based luxury fashion, Moda is set to launch Moda Live, a 30 minute live stream collection-reveal hosted by designer Johanna Ortiz.
If there was ever a better time to experiment with the e-commerce market, it’s now. Though American consumers have not yet been receptive to livestreaming shopping events, perhaps it’s simply because they haven’t been exposed to it yet. Right now is a time where shoppers are craving something different, and it feels like a great opportunity to show the American market something new.
By: Adi Shoham
IG: @adiblossom