Telly shopping has been around for ages, since live television was invented. Now, we are living through a live shopping renaissance with China leading the way for many marketers.
The Chinese retailer, Taobao, has pioneered livestream shopping technology across their e-commerce. The combined transaction volume of its Marketplace and Tmall.com reached 3 trillion yuan in 2017, more than that of all US e-commerce sites combined. On the site, large businesses pay influencers and celebrities to host streams and sell their products, an effective strategy when bricks and mortar stores have been closed as a result of the pandemic.
For the rest of the world, the race is on to harness live shopping technology and catch up with Chinese retail giants. In fact, the livestream industry is expected to be valued at a whopping 184.27 billion USD by 2027.
So, why is livestream shopping so popular? This could be due to the community feel it provides for consumers. The conversational, personal and real-time experience connects brands and customers in a way that replicates the offline shopping experience online. In an increasingly digital world, livestream provides a more human touch to online shopping.