LiveFeed – Your little black book of Live Shopping 🙋♀️
EAST MEETS WEST 🗞️
Live Shopping isn’t new: for years, it’s been an e-Commerce mainstay in Eastern countries, mainly China. Here’s what’s hot off the presses there, and as decoded by Livescale’s own experts, what it means for you.
Meet the new wave of Live Shopping hosts: Knowledge-first category experts
As Live Shopping is becoming an essential part of a brand’s marketing strategy, early adopter brands are beginning to identify winning combinations and formats for a long term, sustainable growth. Lipstick King’s – an affluent Live Shopping seller in his own right – ex-assistant Fu-Peng is a great example of a rising type of host that brands are nurturing – the Knowledge-first category expert.
✏️Knowledge-first hosts accumulate high stickiness and trusted fan base.
✏️Knowledge-first hosts bring out the personality of a brand and resonate with its representation.
✏️ Low price and discount are not a tactic that fits all brands in the long run, in these cases, education is key.
✏️ Knowledge-first hosts pick their own product selection, leveraging authenticity and trust.
✏️ The community for this host type is less price-sensitive, with a large focus on the host’s pick instead of the best deals.
Weekly, bite-sized Live Shopping News
Livestreaming viewers in Singapore (51.3% female and 48.7% male), most aged 18-24, purchase products via live streaming. Singapore is slower in the adoption of live streaming as compared to countries such as China and America. For reference, just 15% of consumers in Singapore have adopted live streaming content, compared to 90% in China and 38% in the Americas.
The top 3 Live Shopping product categories purchased online in Singapore are food, make-up and technology at 70%, 20% and 10% respectively. People typically spend between $2-$200 on seafood and fresh meats, bubble tea, and other items.
LG Electronics launches a livestream shopping app, complete with Qurate Retail Group’s home shopping brands.
Shopping via social networks is one of the hottest topics in e-Commerce today. Due to the Corona crisis and the consequences for brick-and-mortar retail, the industry’s need for digital sales channels has increased again. With the arrival of Flaconi, another company is now entering the area of social shopping.
2020 has been the year of live shopping for US tech companies. Heavy hitters have inserted themselves in the fold, with the launch of Amazon Live for influencers in July, and Instagram and Facebook’s live shopping features in August. Google’s R&D division, Area 21, recently launched Shoploop, which isn’t live but offers shoppable stories. There are also smaller startups continuing efforts to make live shopping not just a thing, but the bonafide future of retail. On every platform, it ends up looking like a modern twist on QVC — but with influencers instead of celebrities, and those influencers getting a cut of the sales.
Once every influencer starts going live, the onslaught of product marketing likely won’t stop.
Similar to traditional video shopping channels, Live Shopping turns e-Commerce into an interactive experience. Buyers watch a live presentation of the product, ask the questions they want to be answered and are able to purchase with a simple click, without leaving the presentation. At base, Live Shopping amplifies the benefits of impulse buying. The buttons integrated into the video facilitate the purchase of the product, reducing the risk of the buyer being distracted from the path to purchase, or leaving the platform.