Updated: Sep 7, 2021
The livestream industry is expected to be valued at a whopping 184.27 billion USD by 2027. The rapid transfer of events and retailers to the digital world due to the pandemic has accelerated this growth. As a result, livestream shopping just might be the future of e-commerce.
Although live shopping has been around for a while, China has been the first country to seize its true potential. Streaming commerce giant, Taobao, has taken live shopping to new heights with the combined transaction volume of its Marketplace and Tmall.com reaching 3 trillion yuan in 2017, more than that of all US e-commerce sites combined.
So, it isn't surprising that many of the top brands are taking a leaf out of China's book to take their businesses live to sell to the masses.
You might be asking yourself, how can I create a live shop?
In this post we will investigate the various options for brands to incorporate video interactivity and successfully break into the world of livestream shopping.