While livestream shopping, or live commerce, originated in China, it has recently infiltrated the Western market at an alarmingly fast pace. During a session at’s digital Luxury FirstLook 2022 conference, social commerce executives shared insight on how brands can effectively utilize platforms to reach highly engaged, digitally-savvy consumers, from shoppable content to choosing the right ambassadors.
By 2020, China reported more than $162 billion in livestreaming ecommerce sales, with 617 million people having watched livestreaming shopping events . “A simple image or video is no longer representative of an experience,” he said. “This requires live stream environments to actually show products or services so consumers may ask questions.”
Just two months ago, Pinterest introduced Pinterest TV, a series of live and shoppable shows featuring the platform’s creators. Pinterest TV episodes will be refreshed daily, Monday through Friday, but are recorded so that Pinterest users may view them on-demand at any time . Notably popular among Gen Z, video sharing platform TikTok also launched a new suite of shopping tools, including Live Shopping which will allow brands to engage with users in real-time through livestreaming .“It’s fair to say that live commerce could be considered the QVC 2.0,” Mr. Yang said. “However, the ways in which Gen Z and millennials consume content is fundamentally different from how their parents might.
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