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Live streaming e-commerce

China’s Taobao Live, Douyin, Kuaishou, Pinduoduo, JD.com, Mogujie & Meituan popularized live video shopping. Sellers present the products through “livestream selling”. Consumers can react, chat, and buy directly via in-app checkout in real-time. The e-commerce experience is immersive, transparent, and social.

In fact, live e-commerce is already a $60 billion market. China is dominating this rapid trend with $171 billion gross merchandise value (GMV) in 2020. This trend has hit the global mainstream and companies around the world are riding on this massive wave.

We’ll examine companies that are building for the future of online shopping—and unpack exciting opportunities where you can monetize.

Key trends:

(1) E-commerce giants in the West are rolling out live shopping:

• Amazon Live (launched in 2019)
• Walmart Live (launched in 2021)

(2) Social networks are becoming a “social e-commerce” company:

• Companies are leveraging existing network effects (i.e. influencers and followers) by offering commerce features.
• For example, Instagram Shop (launched in July 2020) and Facebook Live (launched in May 2021).

(3) Rise of livestreamers billionaires:

• Creators are making fortunes by streaming live shopping content.
• Skincare and makeups are among the top-selling products.
• Austin Li aka “Lipstick King” pre-sold US$1.9 billion on Alibaba’s Taobao ranging from Shiseido lotions to Apple AirPods. Li earns between $10 and $20 million/month (not a typo) from livestreaming. Li’s net worth is predicted to hit $15 billion by 2023.
• Viya made $1.3 billion in transaction volume during the 11.11 Single's Day festival. As the “queen of livestreaming” in China, Viya sells cosmetics, houses, cars—even sold a rocket launch for $5.6 million. Viya ranks China’s 500 Richest List at US$1.4 billion net worth.

more…

(🔒 Full version) +3 key trends in the livestream e-commerce space. These insights will help you capture specific customer needs: