The concept of “shoppertainment” is not new, with broadcast networks like Home Shopping Network long established since the 1980s in North America. The recent global health pandemic has given the concept new life as the medium has shifted from television to mobile, and broadcast networks to social networks. This new form of retail is best described as televised shopping on mobile with e-commerce functionality.
Think QVC plus Facebook Live plus Shopify.
Though e-commerce livestreaming is growing across markets, it is hyperdeveloped in China. First gaining popularity as a means for Key Opinion Influencers (KOLs) to market their own products, the number of livestream users in China has hit 560 million (May 2020) and according to iResearch, the industry was worth US$63 billion in 2019 and is expected to double by the end of 2020. Established e-commerce platforms like Amazon are using livestreaming to create new revenue streams and social platforms like Instagram, TikTok, and Facebook are evolving to support video and e-commerce functionalities, opening the door for brands and companies to monetize these community-driven channels.
In this report, we explore the socio-cultural, technological, and environmental factors that have contributed to the rise in popularity of e-commerce livestreaming, and look at what marketers need to do to develop strategies that are grounded in best practice.
CONTENT
- Social Shopping: Then & Now
- Which Industries Are Adopting Livestreams
- Social Platforms with e-Commerce Video Capability
- Best Practice Grounded in Strategy
