This Business News Story Was Uncovered By Us From: https://www.entrepreneurshiplife.com/is-live-commerce-ever-going-to-stick-in-western-markets/
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In 2020, while live video from streamers and for communications was being adopted en masse, one of the predictions made by eCommerce and land-based commerce commentators was that live shopping would be the next big thing.
Already, the blueprint had been laid down and proven to the tune of hundreds of billions of dollars in China, and the assumption was, essentially, that the more consumerist markets in the West would follow suit.
However, live commerce isn’t exactly common in Western markets right now and is only finding sustained success in someone niche or detached areas.
The QVC-like nature of it in theory may be holding some back from wanting to try live shopping, or perhaps the Western customers have far different demands to those in China. Still, there is a lot of potential in the application of the tech.
Magic Formula Yet to be Found in the West
Over in China, livestream shopping made $480 billion in China last year, but in the US, it was only forecast to hit $11 billion. Now, $11 billion certainly isn’t a quaint sum, but it’s certainly not hitting the levels expected of this proven and widely adopted tech. One of the issues may be the method that works in China. The influencer economy and shopping via influencers was already big business before the advent of live shopping.
In Western markets, as popular as many influencers may be, when they try to sell products and need to mark their attempts as advertising, most followers just ignore and scroll to the entertainment. Where it is looking to gain some traction is TikTok Live Shopping, which is made by a Chinese company. Facebook and Amazon seem to be the places to truly push for live shopping, but the right formula for this market just hasn’t been found yet.
Where Going Live Continues … Read More
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