‘Live commerce’, ‘live shopping’, ‘live shoppable content’ or ‘TikTok shop’. Whatever you want to call it, this new form of social media shopping experience is booming and you won’t be able to ignore it for much longer. Content distributors, online sellers and big brands alike are rushing to capitalise on rapidly changing consumer behaviour, and tracking some jaw dropping results.
It’s not really new
While the concept is a relatively recent development for platforms such as TikTok and Instagram, a remote live shopping experience is nothing new, and it has proven effective elsewhere. TV stations such as the world renowned QVC, HSN, TJC and JML have been draining the wallets of their viewers for generations with engaging live video and ‘viral’ products.
The live shopping experience has been catapulted into the 21st century and is fast being adopted by the Gen-Z and Millennial generations, with a plethora of platforms, features and trackability, it’s more powerful than ever.
The format is already hugely popularised in China, in fact during 2020 it was reported that two-thirds of Chinese consumers said they had purchased products via livestream that year. As is often the case with tech adoption, Western markets have been trailing behind that of China but recent years have seen the gap beginning to close as popularity steadily grows amongst social media users on TikTok, YouTube, Instagram and Facebook in the US particularly.
How can The Goat Agency help?
At Goat we are experts at using live content to drive real time engagement and ultimately product sales. We specialise in working across Facebook and primarily TikTok and YouTube for our clients such as Wayfair and Mattel.
European consumers, surveyed by Statista have expressed huge interest in Live Commerce whilst brands are reporting record breaking conversion rates. Want to see the stats and learn all about Live Commerce? Download our exclusive Live Commerce education deck here.