A 72 hrs Live Shopping Festival | Vol.4

LiveFeed – The news 🗞️ you didn’t know you needed. (Yet)

💡 China has 309 million e-commerce live streaming consumers
 With more than 400,000 live streamers active in the business, China saw more than 10 million live streaming marketing activities in the first half of this year, attracting more than 50 billion views.

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CNNIC Reports: Live Shopping show views hit 500bn in the first half of 2020
 In the first half of 2020, China has more than ten million Live Shopping shows, four hundred thousand active hosts and 500 billion views.

This combination has helped cement consumer trust, and as a result, shoppers are taking more time to engage with L’Oréal, with the average time spent on a site with virtual try-on services three times higher for intent to purchase. Consumers are also adding to their basket twice as much vs. those who didn’t interact with a virtual try-on services.

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A-list celebrities join themed Live-Shopping variety show
 Live Shopping is an art form that not everyone can master. Chinese video platform Youku partnered with Toabao to pair expert sellers with celebrities for a shoppable, action-packed reality show.

💡 Live Shopping is embraced by the hospitality industry in Macau
Targeting the Chinese market, hotels and travel industries in Macau are trying out Live Shopping as the new way to push special travel packages.

💡 Explore China’s first-ever 72-hour non-stop live streaming e-commerce festival 
Some 200,000 live streaming shows take place across the city to promote both local and global products. It is held digitally, on China’s largest online shopping site Taobao and a number of leading livestream platforms, including Douyin, Kuaishou. The move can be seen as a way to boost sales online as the economy has suffered due to the COVID-19 pandemic. 

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Etsy won the stock market in 2020
Etsy’s advantages in the crowded e-Commerce business have been evident for years. With its macramé wall hangings and chunky-knit throw blankets, the online marketplace has a unique merchandise assortment.

The pandemic, though, has put a spotlight on another strength of Etsy’s model: The ability of it’s army of small sellers to speedily change their merchandise selections.  Spending has remained strong on Etsy as consumers continue to avoid physical stores over safety concerns, helping fuel its 146% increase in gross merchandise sales in the second quarter. 

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 Walmart redesigns stores to align with mobile app
  Mobile first, even for physical stores. The retailer begins an ambitious project to make store navigation clearer and push use of its own app, including self-checkout and touchless pay.

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Amazon Live attracts more beauty brands with its shoppable livestream format
Beauty brand founders such as Jessica Alba are getting onboard with Live Shopping. In the past months, a growing number of beauty brands have created Live, shoppable videos as livestreaming adoption has surged during the pandemic. Attracting viewers through celebrity and influencer appearances as well as special discounts, beauty brands are using Amazon as they experiment with several new livestream shopping formats for a North American audience. 

💡 Livestreaming Could Draw $25 Billion in US by 2023, and store shutdowns may take it there
Livestreaming might be gaining momentum this year, given the surge in digitally enabled commerce once Covid-19 shut down stores. 

💡 Instagram expands shopping on IGTV, plans test of shopping on Reels
Today, Instagram users can view products and make purchases across IGTV, Instagram Live and Stories.

On IGTV, users can either complete the purchase via the in-app checkout or visit the seller’s website to buy. However, the expectation is that many shoppers will choose to pay without leaving the app. This also allows Instagram to collect selling fees on those purchases.

💡 Amazon’s Prime Day Set For October 13, 14
Prime Day will be a two-day spectacle. Normally, Amazon holds its Prime Day of special sales in July, but has postponed this year’s date since the pandemic began. Last year, Prime Day raised more than $7 billion through the sale of 175 million items, The Wall Street Journal (WSJ) reported. That’s more than it pocketed during the previous Black Friday and Cyber Monday combined.

💡 Why Affirm is courting lower-priced retailers
The buy now, pay later race continues alongside the pandemic. Installment lender Affirm added a new feature aimed at smaller purchases, as low as $50, allowing customers to pay loans back on a bi-weekly basis. This move is part of a bigger plan to become a more dominant payments player. Tapping into the low-end transaction pool is all about building a diverse set of offerings that encourage long-term customer retention.

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Revolution at MediaMarkt: the chain store launches “Live Shopping”
“Live Shopping was created to combine the best of both worlds: the ease and speed of e-commerce and the advice given by a salesperson in one of our stores,” Explains Yannick de Bièvre, Head of Marketing of MediaMarkt Belgium.

The phenomenon is not yet known in Belgium but has been very successful in Asia and the United States. Live Shopping, known here as a mix between teleshopping and product testing, will be launched by MediaMarkt in October.