CEO & Founder @ Coresight Research | Board Member| Retail & Technology Expert | Best Selling Author | Keynote Speaker
Who knew talking about #livestremaing could be this fun?!? At the recent Ad Age Summit, I had the incredible opportunity to join Sara A Holmgren from Macy's and Steven Tristan Young from Poshmark in a dynamic conversation on #socialcommerce. 1) Engagement and conversion in livestreaming are on the rise. Recent research by Coresight Research shows that 51% of survey respondents watched a shoppable livestream, with 26% making a purchase. 2) Livestreaming proves resilient even in challenging times. In a more difficult macro environment, 50% of livestream viewers are still motivated by finding good deals. 3) Considering the growing focus on climate, livestreaming provides valuable purchase information and contributes to a 50% reduction in returns. It is evident that consumers are increasingly drawn to this channel for their shopping needs. Overall, the future of livestreaming looks promising as it continues to drive engagement, conversions, and addresses consumer concerns. #1010shoppingfestival
26% conversion and 50% fewer returns is simply off the charts amazing. Imagine (predict?) that these values approach 100% and 0%, respectively, as AI makes all livestream content and deals completely personalized to the users!!!
For those interested my company "5 New Digital" does livestream planning, execution, hosting, production, has white label enterprise LS platform, a LS marketplace, and a a dynamic shoppable video platform, software. Drop me a line if you want to learn more. We have been doing LS since 2016.
Great insights, Deborah! I also noticed from my experience that livestreaming offers a unique authenticity in immersive influencer marketing, bridging influencers and audiences. The key is aligning the influencer's persona with the brand. How do you see its future evolution with emerging platforms and consumer shifts?
Live-streaming is informercial 2.0 The medium is the internet vs television. D2C sellers have a much larger audience/reach with the internet.
It's interesting how livestreaming can reduce returns to the extent that it can increase the profitability of retailers! From a consumer perspective, livestreaming gives a better picture of what to expect from a product and helps make a better choice!!!
Thanks for posting, well done Deb. We're making believers our of brands and retailers, one at a time. We were on this 6 six years ago.
LOVE the photo! And love live-streaming and the opportunity it offers, in awe of how slow it has been to scale in the US.
Great to hear that livestreaming is on the rise. You should meet Thea C. Myhrvold from Getbee. She is driving transformation in Video Commerce and bringing back the human element to digital commerce :)
Retail Geek | CEO and Founder of Retail Connected | Founder of Retail Women in Tech | ReThink Retail Top Expert | RetailWire BrainTrust Member | DE&I Board Member | Mental Health Advocate
8moI believe it's only a matter of time that it will become a mainstream way to shop.