For a lot of 2020 and 2021, brands have had to rethink selling strategies in the face of a 'storeless' economy.
Now, brands are starting to realise the potential of livestream for making big digital sales after noticing the popularity of shop live technology in China. It was quoted that in 2019, China’s live-stream shopping market was worth 451.3 billion yuan [$66 billion], and is expected to show even more growth. This doubled to almost 1.2 trillion yuan ($170 billion) in 2020. For the rest of the world and particularly the US, this is expected to take off. By 2023 the market is set to be worth $25 million in the US alone.
Customers are loving live shop experiences because they provide an exciting, real-time shopping experience without leaving home. Hosts upload products they want to display to a player before streaming live. Product popups then display alongside the stream for customers to purchase direct. Viewers can communicate with hosts in a chat bar, connecting them to their favourite brands and creating a community feel.
As a result of this new shopping craze, there are now several apps that can help your brand create a live shop.
Smartzer: The accessible app helps large and small businesses to create shoppable livestream and on-demand video. Viewers can shop directly from the stream and make last minute purchases even after it has finished. Repurpose your stream as on-demand content on ecommerce landing pages for anyone who has managed to miss your virtual shopping events.