Why companies and brands need to tune in – TechCrunch

What comes to mind When do you think of live broadcasts? In the US, most people would name their favorite celebrity leading a Q&A on Instagram or a gamer doing a speedrun on Twitch.

In China, it’s shopping, it’s broadcast live.

Live e-commerce has taken off in China in recent years and is expected to yield more than $ 60 billion this year. In 2019, 37% of online shoppers in China (265 million people) made purchases on live broadcasts, and that was long before the quarantine. In 2020, it is estimated that it reached around 560 million people.

During Taobao’s annual Singles Day Global Shopping Festival in 2020 (China Black Friday), Live broadcasts accounted for $ 6 billion in sales. – almost doubled over the previous year.

Are you starting to see a trend? Big US companies have caught on and are jumping on the bandwagon faster than you can say, “Swipe up to buy now.”

Last December, Walmart live streamed shopping events on TikTok. Amazon launched a live platform where influencers promote articles and chat with customers. Instagram launched a Store feature that encourages users to browse and shop within the app. Facebook too started live shopping fridays for beauty and fashion categories.

“It is an entertaining way for stores to tell the story behind their products. It brings shoppers closer to their favorite creators than ever before and allows them to have a voice in the conversation. ”

Startups are growing rapidly to keep up with the big hitters: PopShop.Live raised $ 20 million allow people to buy everything from books and toys to jewelry from vendors who broadcast their offers live, and Whatnot raised $ 50 million Series B, largely to expand its live streaming trading infrastructure. There is also a burgeoning category of SaaS tools like Bambuser, which is work with brands like Klarna to test live native shopping directly within branded applications.

At this rate, retailers will be welcoming livestream commerce teams as if they had influencer associations in recent years. It will simply be part of the digital equation to remain competitive and relevant in the future of markets and e-commerce.

From BC to 5G: the evolution of shopping

The old is new again. His grandparents spent years watching QVC because it balanced the experience of speaking with an associate with the convenience of the television room in their retirement community. Livestream is today’s version of “shoptainment,” where hosts dynamically display products, engage with their audiences, and generate urgency with short-term offers, giveaways, and limited-edition items.

Now with live streaming commerce, hosts can form deeper connections with customers and answer questions in real time. It’s a new communication standard that has a long-standing truth from Istanbul’s Grand Bazaar to smartphones: people shop to kill time and are more likely to buy when they feel connected to a seller.


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