July 16, 2022
Livestream commerce has taken China by storm over the past five years, delivering billions of dollars' worth of sales and turning livestream shopping anchors into mega stars. A potential goldmine for brands looking to make millions in minutes, livestream commerce is a mix of infotainment, variety show and social media chat. If you like a product showcased by an on-screen presenter on a livestream, simply click on the "buy now" button and the product will start winging its way to your address.
China's "Lipstick king", presenter Li Jiaqi, who has tens of millions of social media followers, sold and incredible $1.9bn worth of products during Singles Day last year on livestream platform Taobao Live. This is an Asian craze that is heading west. But livestream shopping is making slow progress in Europe and the US as QVC-style shop-as-you-watch social media struggles to take off. Some brands are making forays into the area, with Walmart in the US launching a live shopping channel and running a livestream through Twitter hosted by singer Jason Derulo last Christmas. In the UK, Tesco staged a livestream event at Easter featuring an easter egg hunt. Tommy Hilfiger and L'Oreal have tried repeating their success with livestream shopping in China over in Europe. But many brands are reticent to get involved.
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