Livestream shopping can boost sales

New Ideas in MarketingEssential news for marketers, summarised by YouGov
March 03, 2021, 2:30 PM UTC

The format effectively combines online and offline retail formats.

Livestream shopping is a growing commerce channel and generated $60 billion in global sales in 2019.  While combining online and offline strengths also allows retailers to respond to consumers on a one-on-one level. It works like home shopping channels but allows consumer interaction via comments, polls, and likes.

Small DTC brands and influencers like Catherine Zeta-Jones are already exploring this channel in the United States. Marketers can use Livestream shopping platforms like Taobao, Popshop Live and Bambuser to target potential consumers.

Leveraging tactics like limited-edited releases and time-specific discounts can help brands gain audience attention through Livestream shopping. However, marketers should identify their Livestream shopping audiences, build a dedicated network and then promote this channel via social ads and newsletters, among others. Companies, especially retail and DTC brands, must consider Livestream shopping while expanding their sales channels.

Read the original article

[11 minute read]