Livestream shopping can boost sales

New Ideas in MarketingEssential news for marketers, summarised by YouGov
March 03, 2021, 2:30 PM GMT+0

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.

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