How Retail Brands are Investing in Live Selling
With the emerging trends and love for TikTok live, reels, and Instagram lives it’s always showtime guys! With the increasing user engagement in live streams and taking inspiration from live streaming platforms (like Twitch), Jack ma’s Alibaba launched and linked Taobao, an online live broadcasting platform to an e-commerce store for people to watch and shop at the same time. Let us take a look at how live commerce is shaping our shopping experience and why retail brands are investing more in live selling!
The Next Wave Of E-Commerce Revolution:
The arrival of Alibaba’s Taobao Live in May 2016 marked the opening of a new chapter in sales. The Chinese retail giant had pioneered a powerful new approach. A new marketing strategy that none expected to be a huge success. In 2020, the first 30 minutes of Alibaba’s Singles’ Day presales ( See now buy now) campaign on Taobao Live generated an impressive $7.5 billion in total transaction value.
Live Selling Or Live Commerce:
Live selling is quite similar to those late-night infomercials where you see the product being demonstrated and you could purchase with a phone call, the only difference is, that it is the digital version of it. Companies or big brands may recruit influencers with a huge fan base to live stream. While the streamer presents the products live, links appear on the screen and allow the viewer to buy them. The links to the various products being live steamed are shown in the live video for the users to purchase, where they can buy the products without leaving the app. The product category often showcased on the live streaming platform are mostly apparel and cosmetics.
Brand Investing In Live Selling:
- Burberry participated in Tmall’s Collection fashion show which was streamed on the Tmall website. The show was a “See Now, Buy Now” stream, meaning viewers could purchase the items going down the runway using their mobile phones.
- Tommy Hilfiger has participated in Amazon Live, the eCommerce platform’s live streaming program. The brand has also been active on various live sales platforms in China where live shopping has been a trend even before the pandemic. In 2020, the brand decided to take ownership of how the products are presented by streaming a show on their own website. Tommy Hilfiger extended the live selling platform to Europe and North America where one show reportedly attracted an audience of 14 million and sold 1,300 hoodies in two minutes.
- Maybelline hosted a show called “Make it Happen”, with Angelababy and internet celebrities — known locally as “internet reds” — trying and choosing new lipstick products from Maybelline. Maybelline was able to sell 10,000 lipstick products in China within two hours by leveraging the influence of celebrities and key opinion leaders.
- Urban Decay, Lancôme, NYX Cosmetics, Kiehl’s, and It Cosmetics are some of the brands under L’Oreal, that started doing shoppable live streams on their respective websites. These live streams featured celebrities and influencers doing makeup tutorials and skin care routines. The stream also included various discounts and giveaways plus free shipping on all orders that are ordered on that day.
Following China’s lead, Western brands, retailers, and marketplaces are establishing their own live-commerce ventures and events to promote their products, especially in beauty and fashion. Experts believe live selling can generate up to $184 billion by 2027. The growth of AR/ VR in shopping combined with live selling results in endless possibilities. To create your live streaming platform or to establish live selling for your existing brand or company, Checkout Streambiz, the seamless 100% white-label live streaming script that has been tried and tested & is ready to launch. The only issue with brands that are opting to stream their videos on their own websites finds that viewers can be very limited.