The popularity of content creators and social commerce is increasingly driving momentum for livestream shopping — sort of an update on the QVC days of shopping channels.
But instead of a television network, the shopping is happening across social media and retail platforms, from Walmart to Amazon. Experts point to live shopping’s potential to accelerate conversions, as well as to combine entertainment with immersive content. Using tactics like limited-time offers or exclusive products, for instance, companies reported conversion rates nearing 30%, which was 10 times higher compared to conventional e-commerce, according to McKinsey Digital.
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For Amie Owen, U.S. head of commerce at IPG’s UM Worldwide, the evolution of social commerce “makes sense,” because everyone is now on social media. Owen mentioned the topic of live shopping coming up frequently at the agency over the last year. Ultimately, she added, seeing retail media and shoppable “all coming together in one component” represents a sizable part of the future of commerce media.
Read more on Digiday.