Livestreaming Latest, September 2021

Live shopping has taken off during the pandemic and continues to pick up steam each month. The Coresight Research Livestreaming Latest series provides regular updates on the variety of approaches that are emerging around the world, across different retail sectors. We present recent market developments and discuss three trends we have seen in the livestreaming space recently. We also offer examples of notable livestreaming events.

Recent Market Developments

• On August 1, 2021, Suning, one of China’s leading online electronics marketplaces, announced the 818 Fever Shopping Festival to celebrate its anniversary on August 18, 2021. The event offered extensive livestream shopping sessions. In partnership with TCL, Vivo, Haier and other home and electronics brands, the opening ceremony featured a four-hour live shopping program. Home appliances, groceries and smartphones were offered with discounts of up to 50% during the festival. In response, Suning’s competitors Tmall (Alibaba) and JD.com launched back-to-school sales campaigns and member-exclusive discounts during the same period.
• On August 18, 2021, private equity firm Permira made a strategic investment in livestreaming and social commerce platform CommentSold. The company said it will use the investment to accelerate its growth plans. CommentSold describes itself as a cloud-based software-as-a-service (SaaS) platform that enables live and social selling across multiple shopping platforms.
• On August 19, 2021, leading US video-commerce channel QVC debuted as the only live shopping channel on SLING TV, an award-winning live TV streaming service delivering news, sports, entertainment and kids’ programming. The launch reflects QVC's continuing strategic initiative to expand the reach of its curated broadcast and video commerce experiences across new media and digital platforms.
• On August 23, 2021, Walmart created a back-to-school virtual concert series featuring Imagine Dragons (August 27), Chance the Rapper (September 4) and Kane Brown (September 7) for students and teachers to celebrate Homecoming. Tickets were available for free through Walmart’s website, YouTube, Facebook, Instagram and Twitter. The Kane Brown concert, hosted by actors Noah Schnapp and Madison Bailey, also offered viewers watching through Walmart's live-commerce site the chance to win prizes and deals in order to drive traffic to the Walmart website and boost back-to-school spending.
• On August 23, 2021, Samsung launched a live shopping platform in India ahead of the pre-booking event for its new Galaxy Z Fold3 5G and Galaxy Z Flip3 phones. The interactive broadcast, titled Samsung Now, featured product experts who virtually interacted with viewers and guided at-home audiences interested in buying the foldable phone in real time through the live shopping event, according to an announcement. Consumers in India could access early delivery and exclusive time-limited offers during the live session.
• On August 24, 2021, TikTok began trialing shopping tabs with select Shopify merchants from the US, Canada and the UK, allowing TikTok users to make purchases seamlessly from Shopify storefronts.
• On August 26, 2021, Camp K12, an education tech startup operating live online school sessions in the US and India, raised $12 million in a Series A funding round lead by Matrix Partners India and Elevation Capital. The company connects students aged five to 18 with teachers for live, interactive online courses on subjects such as coding and English. The new investment will accelerate its business expansion by onboarding experienced experts in product development, marketing operations and engineering, according to the company.
• On August 26, 2021, Bright, a startup that has recruited celebrities, artists and influencers to host ticketed live Zoom events in the US, announced $15 million in funding from investors including several Hollywood celebrities. The platform aims to enable famous hosts to present intimate and interactive experiences. Sessions range from one to two hours and ticket prices, normally set by the creators themselves, range from $25 to $150.

Three Trends We’ve Seen Recently

1. The New Cultural Phenomenon of Live Shopping Festivals Consumers worldwide are familiar with the commercial aspects of national holidays and shopping festivals such as Black Friday and Singles’ Day. Today, as live shopping gains traction, new festivals are emerging, such as Net-a-Porter’s two-week “The Beauty of You” festival in January and YouTube’s “Small Biz Day” on June 24, 2021.

• Short-video platform Douyin held its 818 Trendy Goods Festival in China on August 1–18, 2021. During the event, the platform ran a total of 23.5 million hours of video, and the live broadcast room was viewed 30.4 billion times, according to Douyin.The platform simultaneously launched a consumer rights guarantee to bolster consumers’ confidence in its products.

[caption id="attachment_132638" align="aligncenter" width="550"] 818 Trendy Goods Festival on Douyin’s app, showing featured categories and offers
Source: Douyin [/caption]  

• On August 22–23, 2021, Berlin-based online trade show operator We Want Shoes hosted “Who's Live,” a virtual series of trade show events featuring shoes, bags, accessories and sustainable fashion for the upcoming spring/summer 2022 season. During the live event, brands streamed live from their physical showrooms and retailers were able to discover the new collections, contact creators directly, have the products presented live and place their orders immediately.

[caption id="attachment_132639" align="aligncenter" width="550"] Designers Alexandra Svendsen with her latest collection of leather handbags (left) and Simone Gronchi with his N.O.R.A. shoe design (right)
Source: We Want Shoes [/caption]   2. Brands Are Driving Consumer Engagement with Competitions Brands have long found competitions beneficial to their marketing campaigns; within the increasingly interactive live shopping space, however, competitions are essential in driving engagement while building customer loyalty.

• On August 22, 2021, Chinese fast-fashion retailer Shein launched a four-episode design competition on its social media channels and app, offering a prize of $100,000 to an emerging designer in the US, with some 30 competitors participating in the show. The Shein X 100K Challenge series features a panel of influencer judges including Khloé Kardashian and Law Roach. The finals of the competition will premier in September. In running the competition, Shein seeks not only to enhance its social media viewership but bolster its credibility as a partner for designers.

[caption id="attachment_132640" align="aligncenter" width="550"] The Shein X 100k Challenge jury panel
Source: Shein [/caption]   3.  Livestreamers Are Organizing Their Streams by Theme  Many companies create product-based live shopping sessions, but organizing sessions by theme can increase viewers’ sense of connection to brand stories. Sharing informative themed content draws in a wider audience, and thematic organization can also help livestreamers identify and fill gaps in their output.

• On August 12, 2021, German fashion retailer Bonprix hosted a denim-themed live shopping session with a dedicated landing page. Bonprix has also introduced lifestyle videos spanning topics including "Recipes" and "Getting Fit" to provide use-case examples and content for promoted products and brands. Informational videos themed around celebrations such as birthdays can help build a connection with customers.

[caption id="attachment_132641" align="aligncenter" width="550"] Bonprix’s denim-themed live shopping session (left) and thematic organization of its coverage (right)
Source: Company website [/caption]  

Other Notable Livestreaming Events

• On August 6, 2021, German CBD beauty brand Neobotanics launched its first live shopping event, in collaboration with its tech partner Korkuma. The host shared the brand’s most recent medical and scientific findings, explained the products’ ingredients and offered a 30% discount on orders placed during the stream. Sales during the 15-minute livestream were 105% of Neobotanics’ average weekly online sales, according to Korkuma.

[caption id="attachment_132642" align="aligncenter" width="550"] Neobotanics' inaugural live shopping session
Source: Company website [/caption]  

• On August 6, 2021, Californian lifestyle brand PacSun hosted its first livestream shopping event, in partnership with live-shopping technology providerBambuser, to mark the first anniversary of the opening of its flagship Soho store. The livestream launched US rapper A$AP Rocky’s new limited-edition Vans shoe. In less than 24 hours, thousands of customers had registered to watch the livestream.
• On August 19, 2021, German fashion brand Gerry Weber launched its first live shopping event on its own website. TV presenter and lifestyle blogger Tamara von Nayhauss and the brand’s Franziska Stock showcased the current Gerry Weber collection and offered practical styling and possible combination tips.
• On August 26, 2021, US streetwear brand Foo and Foo hosted its first interactive live shopping event. The founder, Elizabeth Hilfiger, presented her spring collection and Foo Core basics line.
• On August 31, 2021, Vogue Scandinavia, the newest regional addition to the Vogue family of magazines, announced the launch of its Live Video Shopping initiative, in partnership with Bambuser. The events will offer viewers insight into the publication’s editorial and the inspiration behind it. Vogue Scandinavia will be showcasing the latest issue of the magazine while offering audiences the opportunity to purchase a unique collection box and limited-edition scent.
• On September 10, 2021, Conforama, Europe's second-largest home-furnishings retail chain, held its first livestream shopping event through its proprietary website. The show was hosted by Sophie Ferjani and lifestyle blogger Lola Rossi, and it featured selected anniversary products with exclusive discounts.

What We Think

It is crucial for companies to stay informed and aware of the changing livestreaming e-commerce ecosystem as they invest in making livestream platforms profitable channels for their business. As a fairly new channel, live shopping is undergoing constant transformation. Brands’ and retailers’ strategies to drive viewership and develop customer relationships are becoming more spontaneous and organic. Shopping festivals, competitions and many other methods are simultaneously driving sales and propelling livestream hosts further into the spotlight. Implications for Brands and Retailers

• Shopping festivals provide opportunities for brands and retailers to reach a broader audience across multiple sectors. With the boom of livestreaming e-commerce, many publishers, retailers and online marketplaces are vying for customers’ attention with competing live shopping festivals.
• The fast-growing livestreaming landscape and the success of various different strategies demonstrates that marketers should not rely on any one tactic or solution to guarantee success in the diversifying live commerce space.
• In such a broad and varied ecosystem, guidance and structure for consumers—such as thematically organized content—can help consumers navigate brands’ livestreaming output. Brands that recognize this and offer a clear story will be rewarded with customer loyalty.