If the e-commerce revolution started in1995, get ready for the next evolution. Starting slowly in 2014, live commerce (or live streaming) in 2020 is becoming a go-to option for Asian consumers seeking new products, promotions, or an impulse buy on a deal, especially for categories such as beauty and fashion, food, and home products. Estimated at around $18 billion in Asia for 2019, it is growing on an annualized 71% clip.
So, what is live commerce/streaming?Live streaming is like television shopping, think QVC and celebrity endorsement, upgraded for the 21st century. It hosts real-time broadcasting of video content by presenters/influencers that model or showcase products. Viewers are able to immediately purchase the item from an embedded link online. Does it work? Kim Kardashian partnered with live streamer Viya to sell 15,000 bottles of her KKW Beauty perfume within minutes. In addition, the single live stream session drew over 13 million viewers. So what’s happening in the United States?
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