Ever since live commerce started to boom in China in the last couple of years, industry experts have been asking themselves, “Will it pick up elsewhere?” In 2020, the answer is a resounding yes! Businesses of all sizes are now turning to Live Commerce to boost engagement and sales.
Many eCommerce innovations have first started in the Chinese market, but not all of them are adopted by businesses and clients elsewhere. However, when it comes to Live Commerce, the mixing of Live Streaming technology with eCommerce, businesses worldwide are picking up the model as they are seeing positive results.
Over a third of internet users in China have made a purchase through live-streaming. Tech giants Taobao, JD.com, and Douyin are one of the first and most successful platforms innovating and implementing Live Commerce. JD.com collaborated with short-video platform Kuaishou for shopping festival 618 this year and has generated over 1.4 billion yuan of sales through the platform.
Brands and retailers outside of China are capturing this new trend. Lancome has just launched a world-first virtual flagship store in Singapore. The virtual store has live consultation services where customers seek advice from Lancome’s beauty advisors. Visitors can also attend live-stream sessions carried out by celebrities and other special guests.
Under Armour in South Africa has opted for a more personal form of live commerce, allowing customers to book private shopping sessions with store staff. Through Zoom sessions, the client is presented with personalised, merchandised display of recommended gears based on their requirements.
Live commerce is not limited by industry either. A startup in Singapore, for example, is using live streaming to bring live theater productions to people at home. This innovative tech called The Future Stage, uses 360-degree cameras with virtual reality and augmented reality functions that can be used to create choice-based narratives.
Amazon also has recognized the importance of this new trend. Not only did they launch Amazon Live, but they also recently added live streaming to the Amazon Influencer Program, allowing streamers to earn commissions on purchases of products showcased in their streams.
Once again, the pandemic has forced companies to innovate and adapt faster than they would have otherwise, ushering in the era of live commerce that appears to be the conduit between online and offline buying experiences.