Live streaming e-commerce refers to the use of live broadcasts through social networks to promote or sell products and services. Unlike the old teleshopping advertisements, in this new format communication is bidirectional and interactive.
During an e-commerce live stream, sellers can showcase their products, share testimonials, and most importantly, answer user questions in real time.
This format is already being put into practice by brands and companies in all industries: textiles, cosmetics, household appliances, automobiles, electronics, etc.
In March 2020, 265 million people used live streaming e- bosnia and herzegovina business email list commerce to purchase products. (McKinsey Digital)
How was Live Streaming E-commerce Born?
How live streaming ecommerce was born
The beginnings of live streaming e-commerce as a sales method date back to 2016 with the appearance of Alibaba's Taobao Live application.
This large Chinese company established itself as a pioneer in implementing a new sales approach: linking streaming with a virtual e-commerce store that allowed the audience to watch and buy at the same time.
Years later, with the arrival of the COVID-19 pandemic and the health lockdown, live streaming e-commerce regained strength and acquired enormous popularity by combining the power of all the social networks we have today.
The first 30 minutes of Alibaba's Singles' Day pre-sale campaign on Taobao Live generated a total of $7.5 billion in transactions in 2020. (McKinsey Digital)