SlideShare a Scribd company logo
Agenda
• What is livestream shopping?
• History of livestream shopping
• Platforms for Livestream
shopping
• Livestreamshoppingexamples
• Why is livestream shopping an
important trend?
• Pros/Cons of livestream
shopping
• Social Media Realities
• Expert opinions/insight
Livestream
Shopping
• Interactive live shopping event with
host, usually an influencer or
celebrity, selling products and
viewers who watch and purchase
products in live time, similar to QVC-
but online
• Viewers can interact with the host
and other viewers and purchase
products instantly
• Events are often themed, include
giveaways and are promoted
beforehand
• Viewers have the ability to ask
questions about products, provide
instant feedback and engage with
brands more personally
Livestream
Shopping
History
• Roots tied to Home Shopping
Network and QVC
• Malls & brick-and-mortar stores
have steadily been closing & with
the Covid-19 Pandemic,
consumers shopping online
increased rapidly
• U.S. consumers want the
convenience of shopping from
home, on the go, from the device of
their choosing. Now, more than
ever, they seek an entertaining
shopping experience in the digital
environment
• By 2025, the U.S. will have 108
million social buyers and retail
social commerce earnings will
reach nearly $80 billion.
Platforms for Livestream
Shopping
• Social media sites such as Instagram,
YouTube and Twitter enable
livestream shopping as well as
Amazon with Amazon Live.
• Software as a Service (SaaS) – VERB
Tech, Bambuser, GoLive, Livescale,
Channelize to name a few – create
software tools that allow users to
livestream on their own e-commerce
sites and/or the capability to integrate
with other social platforms.
• Companies such as Walmart,
JCPenney, Nordstrom, Bloomingdales
and Petco utilizing livestream
shopping have high conversion rates &
increased sales
Livestream Shopping Examples
• Bloomberg • Instagram
Why is Livestream
Shopping an
Important Trend?
• Customer increasinglybuying online and
researchprojectinglivestream market
to be worth $25 billionby 2023.
• Rise in popularity of short-form videos,
video content in general,expected
increase salesin socialcommerce,
influencer dominance remaining and
more brands valuingsocial listening are
all key aspectsof livestream shopping.
• Usersfind value in social branded
entertainment while shopping socially.
• Livestream shopping enhancesCRM,
providesvaluable data regarding
products,relationships, customer
satisfaction and performance all of
which helps marketersmake better
businessdecisions.
Livestream Shopping
Pros/Cons
Pros
Engaging, live experience for viewers
Ability to introduce new brands & promote brand
awareness/reach
Get real time feedback from customers
(likes/dislikes/reviews/recommendations)
Improve CRM
Creates sentiment & personal connections
Provides valuable data (#of clicks, purchase intent, # of views,
# of buyers, # of comments, etc) used to analyze and measure
performance and campaign effectiveness
Data enables to make improvements in products, CRM,
tactics, strategy, all necessary to reach objectives
Software is relatively inexpensive around $100 monthly
Consumers prefer to shop online and are seeking more
Cons
Very little awareness/popularity in U.S.
Limited platforms and well-known software companies
offering livestream shopping capabilities
Risk of mishaps or mistakes when making live videos in front
of live audience
Have to ensure right platform and influencer, if utilized, are
matched with target audience and objectives to be effective
Catering to a market composed mainly of Generation Z and
Millennials
Social Media
Realities
• Social media is still a new area for marketers
• Marketers are hesitant to rely on social media
platforms in general due to their unfamiliarity
with social media
• Livestream shopping can be successful for social
media marketers if they take the time to plan,
have patience, analyze data, understand the
target audience and digital environment and
adjust their strategies and tactics when necessary
• There are more benefits associated with social
media marketing and livestream shopping than
there are risks
• Shopping malls are nearly extinct and brick-and-
mortar stores are closing due to increased online
shopping
• Social media marketing is a necessity for
marketers so it is imperative to understand the
wants and needs of digital users while cultivating
an immersive, meaningful and valuable
experience for them
Experts in
the Field
Rory Cutaia – CEO of VERB Tech & Forbes
Council Member
• Recognized early people want to consume
& share info by watching videos on SM
• U.S. is already preconditioned for
livestream shopping, just not as aware &
companies are too hesitant in protecting
their image as live videos have risk
attached for mistakes & mishaps – they
need more confidence & education in the
platforms & software
• Marketers need to be constantly
connected to the latest trends in SM, be
keenly aware of any changes in digital
environment & digital users behavior &
consistently be creating valuable & useful
content. Must stay 1 step ahead of
competitors & understand importance of
content sharing to influence brand
awareness & promotion – the user is key.
• Foresees in the future users want all
video clickable & shoppable – livestream
shopping environment will turn into an
entertainment experience
Experts in
the Field
Continued…
SJ Petteruti (Program Strategy
Director at Salsify) has been
researching & writing about the
ecommerce industry for several years
focusing on consumer trends & data
management
• There is a significant delay in
livestream shopping in U.S.
compared to China because those in
U.S. utilizing livestream shopping
are producing these events poorly –
they are not consumer centric
enough and are focused too much on
selling and not the customer
• These events are not as interactive
as they should be – customers want
more of an experience and these
events are lacking that
Promising
Future
Facts:
• The Internet & social media are here to stay & will only
continue to evolve
• Increased users = increased online shoppers & buyers.
Globally we are connected and rely on the Internet &
social media so investing in a SM marketing strategy is
necessary to thrive
• Whether livestream shopping explodes in U.S. or not,
the increasing trend with videos and influences and
social commerce is dominating SM & is unlikely to
change anytime soon – China’s livestream shopping
market is a clear indication of that
• Online shoppers want & appreciate connections &
entertaining experiences with & from brands
• If livestream shopping remains stagnant or dwindles in
U.S. completely, most retailers will still engage in some
type of live shopping events and/or experiences as most
already do because it reflects positively on the brand,
enhances relationships & the software tools that provide
# of clicks, views, likes, dislikes, comments, views,
purchases, intent to purchase, etc enables brands to
improve products & performance and adjust their
strategy to meet objectives.
A Successful
Livestream
Shopping Event
• Themed Event & Host - Create shoppable
content with influencer collaboration – ensure
the influencer matches the brand and the
audience
• Choose a platform that matches the target
audience the brand wishes to reach – all
platforms have varying audiences
• Goals need to be set and aligned with the SM
marketing strategy – what objectives are to be
met? How will they be analyzed and measured
to ensure they were met?
• The event should be promoted before hand
• Ensure the event feels like an experience to
the audience – appeal to their senses. Often
times livestream shopping includes giveaways
& creates a sense of urgency. Create a
meaningful, fun & exciting experience for the
shopper and most importantly be responsive!
There is no point in having a comment box if
you will not respond. Customers want to hear
from the host so responding as quickly as
possible will have a positive impact.
References:
1. Werner. G. (2022, October) Social
Commerce Statistics. Influencer Marketing
Hub. Retrieved From:
https://influencermarketinghub.com/social-
commerce-stats/
2. Petteruit, SJ. (2022, March). Why Isn’t
Livestream Shopping Catching on in the
United States? Digital Shelf Institute.
Retrieved From:
https://www.digitalshelfinstitute.org/blog/liv
estream-shopping-in-united-states
3. Vasefi, D. Interview with VERB Tech CEO
Rory Cutaia on Livestream Shopping
Platforms and Assisted Sales.
RetailTechPodcast.com. Retrieved from:
https://retailtechpodcast.com/podcast/intervi
ew-with-verb-tech-ceo-rory-cutaia-on-
livestream-shopping-platforms-and-assisted-
sales

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Livestream Shopping Final Project

  • 1.
  • 2. Agenda • What is livestream shopping? • History of livestream shopping • Platforms for Livestream shopping • Livestreamshoppingexamples • Why is livestream shopping an important trend? • Pros/Cons of livestream shopping • Social Media Realities • Expert opinions/insight
  • 3. Livestream Shopping • Interactive live shopping event with host, usually an influencer or celebrity, selling products and viewers who watch and purchase products in live time, similar to QVC- but online • Viewers can interact with the host and other viewers and purchase products instantly • Events are often themed, include giveaways and are promoted beforehand • Viewers have the ability to ask questions about products, provide instant feedback and engage with brands more personally
  • 4. Livestream Shopping History • Roots tied to Home Shopping Network and QVC • Malls & brick-and-mortar stores have steadily been closing & with the Covid-19 Pandemic, consumers shopping online increased rapidly • U.S. consumers want the convenience of shopping from home, on the go, from the device of their choosing. Now, more than ever, they seek an entertaining shopping experience in the digital environment • By 2025, the U.S. will have 108 million social buyers and retail social commerce earnings will reach nearly $80 billion.
  • 5. Platforms for Livestream Shopping • Social media sites such as Instagram, YouTube and Twitter enable livestream shopping as well as Amazon with Amazon Live. • Software as a Service (SaaS) – VERB Tech, Bambuser, GoLive, Livescale, Channelize to name a few – create software tools that allow users to livestream on their own e-commerce sites and/or the capability to integrate with other social platforms. • Companies such as Walmart, JCPenney, Nordstrom, Bloomingdales and Petco utilizing livestream shopping have high conversion rates & increased sales
  • 6. Livestream Shopping Examples • Bloomberg • Instagram
  • 7. Why is Livestream Shopping an Important Trend? • Customer increasinglybuying online and researchprojectinglivestream market to be worth $25 billionby 2023. • Rise in popularity of short-form videos, video content in general,expected increase salesin socialcommerce, influencer dominance remaining and more brands valuingsocial listening are all key aspectsof livestream shopping. • Usersfind value in social branded entertainment while shopping socially. • Livestream shopping enhancesCRM, providesvaluable data regarding products,relationships, customer satisfaction and performance all of which helps marketersmake better businessdecisions.
  • 8. Livestream Shopping Pros/Cons Pros Engaging, live experience for viewers Ability to introduce new brands & promote brand awareness/reach Get real time feedback from customers (likes/dislikes/reviews/recommendations) Improve CRM Creates sentiment & personal connections Provides valuable data (#of clicks, purchase intent, # of views, # of buyers, # of comments, etc) used to analyze and measure performance and campaign effectiveness Data enables to make improvements in products, CRM, tactics, strategy, all necessary to reach objectives Software is relatively inexpensive around $100 monthly Consumers prefer to shop online and are seeking more Cons Very little awareness/popularity in U.S. Limited platforms and well-known software companies offering livestream shopping capabilities Risk of mishaps or mistakes when making live videos in front of live audience Have to ensure right platform and influencer, if utilized, are matched with target audience and objectives to be effective Catering to a market composed mainly of Generation Z and Millennials
  • 9. Social Media Realities • Social media is still a new area for marketers • Marketers are hesitant to rely on social media platforms in general due to their unfamiliarity with social media • Livestream shopping can be successful for social media marketers if they take the time to plan, have patience, analyze data, understand the target audience and digital environment and adjust their strategies and tactics when necessary • There are more benefits associated with social media marketing and livestream shopping than there are risks • Shopping malls are nearly extinct and brick-and- mortar stores are closing due to increased online shopping • Social media marketing is a necessity for marketers so it is imperative to understand the wants and needs of digital users while cultivating an immersive, meaningful and valuable experience for them
  • 10. Experts in the Field Rory Cutaia – CEO of VERB Tech & Forbes Council Member • Recognized early people want to consume & share info by watching videos on SM • U.S. is already preconditioned for livestream shopping, just not as aware & companies are too hesitant in protecting their image as live videos have risk attached for mistakes & mishaps – they need more confidence & education in the platforms & software • Marketers need to be constantly connected to the latest trends in SM, be keenly aware of any changes in digital environment & digital users behavior & consistently be creating valuable & useful content. Must stay 1 step ahead of competitors & understand importance of content sharing to influence brand awareness & promotion – the user is key. • Foresees in the future users want all video clickable & shoppable – livestream shopping environment will turn into an entertainment experience
  • 11. Experts in the Field Continued… SJ Petteruti (Program Strategy Director at Salsify) has been researching & writing about the ecommerce industry for several years focusing on consumer trends & data management • There is a significant delay in livestream shopping in U.S. compared to China because those in U.S. utilizing livestream shopping are producing these events poorly – they are not consumer centric enough and are focused too much on selling and not the customer • These events are not as interactive as they should be – customers want more of an experience and these events are lacking that
  • 12. Promising Future Facts: • The Internet & social media are here to stay & will only continue to evolve • Increased users = increased online shoppers & buyers. Globally we are connected and rely on the Internet & social media so investing in a SM marketing strategy is necessary to thrive • Whether livestream shopping explodes in U.S. or not, the increasing trend with videos and influences and social commerce is dominating SM & is unlikely to change anytime soon – China’s livestream shopping market is a clear indication of that • Online shoppers want & appreciate connections & entertaining experiences with & from brands • If livestream shopping remains stagnant or dwindles in U.S. completely, most retailers will still engage in some type of live shopping events and/or experiences as most already do because it reflects positively on the brand, enhances relationships & the software tools that provide # of clicks, views, likes, dislikes, comments, views, purchases, intent to purchase, etc enables brands to improve products & performance and adjust their strategy to meet objectives.
  • 13. A Successful Livestream Shopping Event • Themed Event & Host - Create shoppable content with influencer collaboration – ensure the influencer matches the brand and the audience • Choose a platform that matches the target audience the brand wishes to reach – all platforms have varying audiences • Goals need to be set and aligned with the SM marketing strategy – what objectives are to be met? How will they be analyzed and measured to ensure they were met? • The event should be promoted before hand • Ensure the event feels like an experience to the audience – appeal to their senses. Often times livestream shopping includes giveaways & creates a sense of urgency. Create a meaningful, fun & exciting experience for the shopper and most importantly be responsive! There is no point in having a comment box if you will not respond. Customers want to hear from the host so responding as quickly as possible will have a positive impact.
  • 14. References: 1. Werner. G. (2022, October) Social Commerce Statistics. Influencer Marketing Hub. Retrieved From: https://influencermarketinghub.com/social- commerce-stats/ 2. Petteruit, SJ. (2022, March). Why Isn’t Livestream Shopping Catching on in the United States? Digital Shelf Institute. Retrieved From: https://www.digitalshelfinstitute.org/blog/liv estream-shopping-in-united-states 3. Vasefi, D. Interview with VERB Tech CEO Rory Cutaia on Livestream Shopping Platforms and Assisted Sales. RetailTechPodcast.com. Retrieved from: https://retailtechpodcast.com/podcast/intervi ew-with-verb-tech-ceo-rory-cutaia-on- livestream-shopping-platforms-and-assisted- sales