E-shops

Live Shopping Is Making a Comeback: Here’s What Your Business Needs to Know Now – Worth

Summary

Live shopping is clearly here to stay, but up until recently it has been a very expensive endeavor for small businesses trying to endure in a post-pandemic world. Enter: Switcher.

Photo courtesy of Pickawood via Unsplash

It’s interactive. It’s hands-on. It’s immediate. And that’s why we’ve all done it: We’ve shopped live at least once in our lives. There’s a little bit of shame in buying something when you can’t sleep at 3 a.m.—ye…….

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Live shopping is clearly here to stay, but up until recently it has been a very expensive endeavor for small businesses trying to endure in a post-pandemic world. Enter: Switcher.

Photo courtesy of Pickawood via Unsplash

It’s interactive. It’s hands-on. It’s immediate. And that’s why we’ve all done it: We’ve shopped live at least once in our lives. There’s a little bit of shame in buying something when you can’t sleep at 3 a.m.—yet there’s also a sense of excitement when the package arrives at your doorstep (pretty quickly putting that shame to bed as you unbox your new goods). 

The thrill of the product chase—will I be able to buy a limited edition item before it sells out?—is what most brands and companies strive for, and what few have the resources to accomplish…until now.

Ad A

Live shopping started with the Home Shopping Club in the early ‘80s before it transformed into the now famous Home Shopping Network (HSN). It was late at night. You were flipping channels, and suddenly an on-air personality was having a one-sided conversation with you: “Tonight’s a great night to buy this. We have limited stock, and it would make a great addition to your household!”

“I would definitely use (or wear) that all the time,” you likely thought. And as you saw the item nearing “sold out,” you took a chance, picked up the phone and purchased it—right on the spot, no questions asked. Alas, the birth of live selling was born—and we were all hooked.

By the ‘90s, the industry had earned $3 billion a year and reached more than 100 million homes. Currently, HSN is live 19 hours a day, 364 days a year, with celebrity partnerships galore—a feat that is nearly impossible for any mom-and-pop shop or small- to mid-sized business. And that’s just one of many live shopping programs that have state-of-the-art equipment, multi-camera views and popular hosts—often celebrities—hocking everything from jewelry and knickknacks to major fashion and lifestyle brands.

Ad B

While HSN is still around and selling plenty via TV screens, creators are taking shopping into their own hands via live shopping, a way for smaller retailers, and even larger ones like Macy’s, Nordstrom and Avon, to livestream items available for sale via social media or on their website/app, giving you the chance to buy on the spot.

The U.S. livestreaming market is expected to reach $11 billion by the end of 2021 and hit $25 billion by 2023, according to Coresight Research, a global advisory and research firm. The U.S. is playing catch up to China, which has a livestreaming market tracking at $150 billion in 2020 and estimated to …….

Source: https://www.worth.com/live-shopping-comeback-what-your-business-needs-to-know-now/