Over the past year, the trend of Live selling has seen immense growth, particularly in Asian and Southeast Asian markets. The mass closure of in-person retail stores combined with an increase in digital consumerism accelerated the practice of influencers selling via live streams. Now, the trend that started seeing mass adoption in Asia is making its way to other global markets.
According to researcher iKala, social media shopping orders more than doubled in the first half of 2020 across Southeast Asia, with gross merchandise value (GMV) up 306% compared to the same period last year. Brands are looking for new ways to reach customers and drive them towards ‘last click’ sales, and social media presents the perfect opportunity.
As the trend spreads, consumers are becoming more comfortable with shopping via live stream. Cable television channels like QVC and the Home Shopping Network paved the way for customers to understand and become accustomed to the concept of live selling; now it’s just expanded to their social apps and mobile devices instead of their TV. One study found that…
Live selling generated over $60 Billion in global sales in 2019; a number that’s expected to double in 2020.
The United States only accounts for $1 billion of that total $60B of revenue, but now that the practice of live selling has been so successful in Asia, US brands and companies are quickly looking to capitalise on the trend. And there’s never been a better time to expand into live selling; interest has sparked among both consumers and influencers as people find themselves homebound during the pandemic.
Amazon Live lets creators stream content on everything from beauty to fitness to cooking and more while advertising and selling the products used in their videos. Back in May, Facebook announced the launch of Shops which includes a live selling feature and has since launched Instagram Badges which allow influencers to crowdfund their live videos. Google-owned YouTube has also started testing a feature where creators can tag products directly in their videos and expects to launch early 2021.
The element of trust makes Live selling especially successful with consumers. First, as with all influencer marketing, it’s less intrusive than an ad. Ads interrupt the content consumption experience and are often skipped, fast-forwarded, or ignored, if possible. Now, ads are part of the content consumption experience, seamlessly woven into creators’ videos. Also, viewers are much more likely to engage with a product or brand being shared by a trusted influencer. A staggering statistic from gen.video and Geometry Global states that…
Consumers are 94% more likely to trust the opinion of an influencer over their friends or family when it comes to making shopping decisions.
We’re predicting major updates to all social platforms as more influencers and brands move to capitalise on the potential live selling offers. Expect to see a huge continued expansion into eCommerce as we move into 2021, with influencers leading the way.
Want to know how you can use Influencer Marketing to maximise the success of your campaigns in 2021? Get in touch and we’ll show you how Allegiant Media can help.
This article was originally featured on TaggerMedia.com on December 8, 2020.