DIpil Das
What’s the Story?
On October 10, 2021, Coresight Researched hosted its second annual 10.10 Shopping Festival. Participating brands and retailers showcased exclusive deals, limited-time offers and new products to consumers. The livestream event ran from 10.00 a.m. to 10.00 p.m. EDT. Coresight Research's event partner Firework provided livestreaming data from the festival. In this report, we analyze brands’ and retailers’ livestream performance metrics.Why It Matters
Coresight Research launched its annual 10.10 Shopping Festival last year to bring the excitement of shopping festivals online and to help retailers and shoppers address the disruption caused by Covid-19. For the 2021 iteration of the event, the festival brought together a large group of brands, charities, retailers, and retail and technology innovators who had not previously partnered together in a large-scale event. The charity partners benefit beyond the day’s sales, as many retailers are continuing to donate.10.10 Shopping Festival 2021 Wrap-Up
Key Highlights This year, 10.10 continued to support the entire retail ecosystem. Consumers enjoyed a fun retail experience that combined livestream entertainment with charitable giving; retailers benefitted from increased traffic and earlier holiday shopping; and supporting partners were able to assist retailers and donate to their preferred charities. As the focus of this year’s festival was livestreaming, we were very fortunate to have technology provider Firework as the Lead Technology Partner for 10.10; the company onboarded 33 participating brands and retailers to the event and trained them on the technology platform. This seamless experience for retailers and consumers in the festival environment allowed experimentation with new ways of selling, including gamification and personalization. 28 Brands and Retailers Hosted Livestreaming Sessions This year’s event featured 33 participating retailers and brands across accessories, apparel, baby products, beauty, electronics, footwear and home goods. Of these, the following 28 hosted livestreaming sessions during the festival:| · 100% Pure | · goodMRKT | · QYK Sonic |
| · Astouri | · Guess? Inc. | · Retail Pride |
| · Auda.B. | · HighOnLove | · The Organic Candy Factory |
| · Caswell-Massey | · Linda’s Stuff | · Shielded Beauty |
| · CoFi Leathers | · Longaberger | · Skin Authority |
| · DefineMe Fragrances | · Macy’s | · Sonage Skincare |
| · Dr. J’s Natural | · MAY 11 | · T3 |
| · Elizabeth Arden | · Naytra Couture | · The Sak |
| · Fifth & Cherry | · Neighborhood Goods | |
| · Gladys Tyler | · Organic Apoteke |
Figure 1. Top 10 Retailers and Brands, by Total Unique Viewer Numbers [wpdatatable id=1398 table_view=regular]
Source: Firework/Coresight Research With hosts sharing shared exciting products the livestreams were interesting and engaging—the team at goodMRKT got even more creative by auctioning off a jacket, likely contributing to their viewership success. In second place, beauty brand Elizabeth Arden saw strong viewership by offering product recommendations and skincare tips alongside exclusive discounts. Total Livestream Watch Time: Top 10 Brands and Retailers Figure 2 presents a complication of the top 10 brands and retailers by total watch time in minutes. The previous top three brands (by viewer numbers) also ranked highest for this metric, but in a different order.
Figure 2. Top 10 Retailers and Brands, by Total Watched Minutes [wpdatatable id=1399 table_view=regular]
Source: Firework/Coresight Research Total Number of Likes: Top 10 Brands and Retailers Figure 3 presents the top 10 brands and retailers by the number of likes received from viewers (in the form of heart emojis) during the livestream sessions, Elizabeth Arden, goodMRKT and Neighborhood Goods ranked in the top three.
Figure 3. Top 10 Retailers and Brands, by Total Number of Likes [wpdatatable id=1400 table_view=regular]
Source: Firework/Coresight Research Total Number of Chats: Top 10 Brands and Retailers Figure 4 presents the top 10 retailers by the number of chats they held with viewers during the festival, which is a key way to strengthen brand communities. goodMRKT, Linda’s Stuff and Neighborhood Goods rank in the top three.
Figure 4. Top 10 Retailers and Brands, by Total Number of Chats [wpdatatable id=1401 table_view=regular]
Source: Firework/Coresight Research