According to industry analysts, live commerce is expected to generate $25 billion in revenue by 2023 and produce 20% of all ecommerce by 2026.
With live commerce and shoppable videos, marketers can enable their audiences to communicate directly with the brands or promoters through features like online video and chat. This kind of interactivity helps marketers measure authentic consumer actions to optimise their campaigns instead of using third-party cookies for targeting.
Similarly, shoppable ads allow brands to achieve cross-platform measurement and offer more consumer data to brands at a time audiences are wary of sharing information. But before leveraging live commerce and shoppable videos, brands need to understand the different purposes both features serve to enhance their strategies.
While shoppable videos help boost customer engagement through the ability to make instant purchases, live commerce offers elements of entertainment, education and product promotion. After choosing the format most relevant to their business and products, brands can either produce such content in-house or collaborate with a professional marketing service, depending on their advertising needs.
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