You must have seen that a new trend has picked up in the e-commerce industry which is to shop online but while seeing someone’s livestreams. Usually, we see people shopping online via Amazon or Walmart by visiting their website but due to the live stream shopping, the products come to you rather than you going to buy the products. This is because when the creators show you the product they are reviewing, they also give you the direct link to purchase that particular product so if you are convinced then you can seamlessly order that product online.
We have seen that live stream shopping has become a huge trend of e-commerce shopping in Southeast Asian countries such as China, Indonesia, South Korea, Japan, and even Thailand. It is also worth noting that companies such as Amazon and Walmart have started to embrace live-stream shopping. But even companies that are believed to be traditional, such as eBay, Poshmark, and TikTok and even Apple have started to launch their live-streaming sessions in order to showcase their products with the help of influencers and let people shop online.
Coresight Research, a firm that researches the market of livestream shopping in the world, has come out with its own report. Talking about the report, CEO Deborah does mention that they did get it wrong initially. She mentions that “The original estimate was set early this year and didn’t fully take into account South Korean internet giant Naver’s acquisition of Poshmark. At the time, TikTok Shops, a way for users to buy products within the app without having to go to a separate e-commerce store, was also still getting its footing”.
However, they have since reversed their estimates and add that “we believe that live streaming sales in the U.S. could easily reach $50 billion this year” which means that the market is already huge for a trend which most believe is quite small right now which can’t be true if you look at the current numbers. The firm also believes that 5% of the total e-commerce sales in the US by 2026 will be from live streaming.
