Livestreaming Latest, April 2022

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 March 2, 2022, the US media conglomerate Qurate Retail Group, the parent company of television shopping networks QVC and HSN, appointed new leadership as it accelerated its video and livestreaming shopping initiatives. Mike Fitzharris, previously the president of HSN, has become the president of QVC US. Rob Muller, who spent over 20 years in a variety of leadership positions for QVC and HSN, has been appointed the president of HSN. Mary Campbell, after 20 years at QVC US, has been named as President of a new business unit to accelerate Qurate Retail Group's efforts in livestreaming and other live video commerce initiatives.
• On March 3, 2022, the livestream shopping platform startup Shop LIT Live launched a new customized live shopping solution, seeking to onboard more brands. Retail companies can now integrate its live video shopping experiences directly into their proprietary websites through its Shop LIT app.
• On March 9, 2022, having been working to add livestream shopping to its platform since November 2021, Twitter unveiled its new feature, Twitter Shops, which will include its Shop Module and Live Shopping features. It will be housed within Twitter’s Shopping Manager, an entry point where merchants can set up and manage the available shopping features.
• On March 11, 2022, live video conferencing startup 100ms, based in India and the US, raised $20 million in series A funding. led by Alpha Wave Incubation (AWI), with participation from Matrix Partners India, LocalGlobe and existing investors Accel and Strive.vc. Backed by experienced developers Kshitij Gupta, Aniket Behera and Sarvesh Dwivedi, who built video infrastructure at Facebook and Disney, the company aims to help developers build and deploy enterprise-class video applications in hours.
• On March 11, 2022, Duda, a web development platform offering web design services to small businesses, and Firework, the US-based livestream commerce and shoppable video platform, announced a strategic partnership to bring Firework's innovative capabilities to Duda's growing user base of over one million websites and 17,000 web professional agencies.
• On March 15, 2022, live video shopping provider Bambuser announced a strategic partnership with Japan-based outsourcing company Transcosmos. Bambuser’s livestream shopping services will be recognized by the Transcosmos network and available in 171 bases across 30 countries and regions.
• On March 15, 2022, Buenos Aires-based live video shopping tech provider GoJiraf  confirmed seed investment of $2 million, led by a private investors. The new fund will allow the company to continue growing regionally with its current and future partners in Mexico, Brazil, Colombia and Chile, and strongly boost its IT and commercial teams.
• On March 22, 2022, the luxury chat-based shopping platform Threads Styling raised $12 million in a fundraising round led by Highland Europe and C Ventures, with participation from BVYP and TriplePoint Capital. The investment will enable the innovator to continue to expand its current product offering, allowing it to service clients while expanding its new, curated e-commerce website and dedicated live shopping events.
• On March 23, 2022, Toronto-based live shopping marketplace ShopThing raised $10 million in Series A funding led by Origin Ventures, with participation from Pritzker Group and Interplay. Focusing on luxury brands, the app allows its users to connect with a network of shoppers and influencers and ask them to walk into stores, select products and livestream to them, and then purchase an item on a customer’s behalf. With the new funding, the company will invest in expanding its professional shopper network, reaching more cities and adding a membership program.
• On March 23, 2022, new livestreaming app Waitroom raised $3 million in seed funding for its one-on-one video conversation platform. The app is aimed at creators, thought leaders and experts who want to go live on video and host Q&As, and features a countdown timer to keep questions short and the queue moving.
• On March 23, 2022, Immerss, a Texas-based live video shopping app, unveiled its "Shop Live" app for Salesforce Commerce Cloud. Immerss enables Salesforce retailers of all sizes to generate incremental revenue by creating an in-person virtual shopping experience for their customers.

Three Trends We’ve Seen Recently

1.  Social Media Platforms Are Rolling out New Features

As social media platforms eye the next stage of expansion, they are looking to refine their livestreaming offerings, with a set of new additions to provide more control for live broadcasters, as well as new discovery tools to better highlight in-progress livestream content. The main focus of these new updates is the safety of the community, and providing means for broadcasters to avoid unwanted comments or interactions.

• On March 11, 2022, Instagram launched its new Live Moderator feature, which allows creators to assign a moderator to their livestream who can report comments, remove viewers and turn comments off. Although similar controls existed before, these new tools will provide more capacity to manage interactions within livestreams, and help to keep conversations civil and welcoming, which will be important considerations for potential brand and influencer partnerships.

[caption id="attachment_145569" align="aligncenter" width="300"] Live Moderator control features on Instagram Live
Source: Twitter[/caption]  

• On March 17, 2022, YouTube announced new additions to its livestreaming channel, which will play a key role in the next stage of live video shopping on the platform. YouTube is already experimenting with various livestream shopping options, which will provide more capacity for brands and influencers to monetize their YouTube following. By adding additional analytics tools, YouTube will be able to onboard more brand partners, and further its broader integration with e-commerce and live video shopping. YouTube hopes its new approach will enable it to grow into a sustainable and competitive player in the space.

[caption id="attachment_145570" align="aligncenter" width="450"] YouTube Go Live Together and its live chat feature
Source: Company website[/caption]  

2.  Retailers Are Expanding Their Livestreaming Schedules

Brands and retailers are turning to livestreaming campaigns to drive customer engagement on their websites and social channels. Several department stores and grocery chains have confirmed more livestream series with various monthly themes, some reaching an almost daily cadence.

• On March 11, 2022, Macy’s announced more livestream events in the coming months, up to four sessions per week, hosted on its website. The host, Malia Makaila, will guide viewers through different products, aiming to foster a sense of community. Events will also feature tips, live demos and product reviews, and provide recommendations to online viewers via shoppable links to Macy’s website.

[caption id="attachment_145572" align="aligncenter" width="400"] Macy’s live shopping events schedule
Source: Company website[/caption]  

• On March 31, 2022, Walmart expanded its live shopping schedule with a themed series running throughout the month on an almost daily basis. Specialists will host a 30-minute show highlighting products such as electronics, home goods, apparel and seasonal décor. The big box retailer has been a keen adopter of the next wave of digital commerce initiatives, already partnering with various emerging live shopping platforms such as TikTok, Snapchat and Twitter.

[caption id="attachment_145573" align="aligncenter" width="400"] Source: Company website[/caption]  

3.  The Automobile and Toy Sectors Are Embracing Livestreaming

The automobile and toy sectors have kept up with new trends in the rapidly evolving livestream shopping space. Many companies in these industries have made live video shopping a key element of their marketing and outreach efforts, hoping to meet their audience where they interact, by providing fresh and engaging content.

• On March 17, 2022, livestream shopping platform Talkshoplive hosted a live show by the Barbie designer Linda Kyaw-Merschon, in partnership with Walmart. During Women’s History Month, the toy retailer Mattel promoted 10 dolls from the Barbie Inspiring Women and Career Dolls series, including Maya Angelou, Helen Keller, Rosa Parks and Eleanor Roosevelt and Ida B. Wells. The online shoppers have access to behind-the-scenes footage of the creation of each collection and stories behind the craftsmanship of the dolls. In addition, the purchase in the livestream was available through Walmart and Mattel’s online channels as a part of the retailer’s partnership with Talkshoplive.

[caption id="attachment_145574" align="aligncenter" width="550"] Linda Kyaw-Merschon presenting the Barbie Inspiring Women Series
Source: Talkshoplive[/caption]  

• On March 31, 2022, French auto parts and maintenance retailer Cater-Cash announced that it would celebrate its twentieth anniversary by launching its first live shopping event, with automobile tool brand Autobest. Powered by Caast.tv, the event’s hosts showcased a selection of car maintenance products, while answering live questions from consumers for an about an hour.

[caption id="attachment_145575" align="aligncenter" width="550"] Carter-Cash’s live shopping session, hosted by Dimitry Hennart (right) and Antoine Martinet (left)
Source: Company website[/caption]  

Other Notable Livestreaming Events

• On March 2, 2022, Condé Nast's Allure magazine partnered with Walmart to launch its first live shopping series on Talkshoplive. Hosted by fashion stylist Karen Lopez, Kara McGrath, Deputy Digital Director at Allure, and Jihan Forbes, Beauty and Fashion Editor at Allure, the show presented Walmart’s Free Assembly collection and reached 47,900 viewers in the month following the livestream. It indicates that publishers can provide engaging experiences for their readers by leveraging live shopping tactics, including exclusive products and discounts for in-stream purchase. Allure designed the series to accelerate its online shopping integrations, recognizing that engaging with consumers in new ways is critical to grow its online communities.

[caption id="attachment_145576" align="aligncenter" width="550"] Karen Lopez (middle), Kara McGrath (left) and Jihan Forbes (right) presenting Free Assembly’s fashion items
Source: Talkshoplive[/caption]  

• On March 2, 2022, Hot Topic Inc., an omnichannel platform for music, entertainment and pop culture merchandise, launched livestreaming shopping events on its website to promote its brands Hot Topic, BoxLunch and Her Universe. The company leveraged its music and pop culture branding to hold live events featuring guest influencer hosts, exclusive merchandise offerings and special giveaways. The first episode was hosted by vocalist Andy Black of the band Black Veil Brides, featuring exclusive merchandise licensed from the new film “The Batman.”

[caption id="attachment_145577" align="aligncenter" width="400"]
Andy Black presenting Hot Topic’s T-shirt
Source: Company website[/caption]  

• On March 3, 2022, VTEX, a digital commerce platform for brands and retailers, held a live shopping event in Romania, which was promoted by F64, Romania’s largest retailer of photo-video equipment and one of the company’s first customers in the country. The event, aimed at photography enthusiasts, was the first time F64 had held an event of its nature. [caption id="attachment_145578" align="aligncenter" width="550"] Photographers Mircea Maieru (right) and Dana Tudoran (left) discussing photography equipment
  Source: Company website[/caption]

 

• On March 8, 2022, Southeast Asian food delivery app Grab kicked off its first live shopping event in partnership with Singapore-based tech provider BeLive Technology. The service, available in Thailand and Vietnam, includes a chat function and a virtual gifting feature that lets consumers support content creators and influencers.

[caption id="attachment_145579" align="aligncenter" width="550"] Grab’s live shopping session on its Facebook Live (left) and app (right)
Source: Company website/app[/caption]  

• On March 9, 2022, The Fresh Market deepened its partnership with Firework, a live commerce tech provider and omnichannel digital shopping platform. The Fresh Market has become well-known for its quality in-store experience over the years by offering unique specialty products and a gourmet ambiance to its customers. The partnership is expanding significantly this year to include more shoppable content tailored to online audiences, designed to spur product discovery and simplify the shopping experience.

[caption id="attachment_145580" align="aligncenter" width="550"] Extensive short-form shoppable videos and livestream shopping events on The Fresh Market’s website
Source: Company website[/caption]  

• On March 15, 2022, e.l.f. Cosmetics teamed up with NTWRK, a mobile-based livestreaming shopping platform, to promote an exclusive live shopping session for its latest jewelry collection, “ears.lips.face.” The new collection was designed by Georgina Trevino, who is known for her work with high profile celebrities, including Doja Cat, Lady Gaga and Lizzo.

[caption id="attachment_145581" align="aligncenter" width="400"] Kylie Mar from NTWRK presenting the new jewelry collection
Source: Company website[/caption]  

• On March 17, 2022, digital commerce platform VTEX launched its Live Shopping Night series in Mexico. Mexican shoppers were able to interact with the presenters and purchase products from several leading brands, including Acros, Again, Alliance Wineries, Doto, Miniso, Office Max and Xiaomi.

[caption id="attachment_145582" align="aligncenter" width="550"] OfficeMax promoting a scooter during its live shopping event
Source: Facebook[/caption]  

• On March 24, 2022, Swedish home furnishing retailer IKEA expanded its live shopping offering in Spain, with the possibility of interacting with store advisors and other hosts through live chat. IKEA Spain kicked off its first live shopping session simultaneously on the web and on social media channels Facebook and YouTube, with a focus on storage and closets.

[caption id="attachment_145583" align="aligncenter" width="400"] TV presenter Raquel Sánchez Silva (left) and store associate Marta Belona (right) hosting IKEA’s livestream
Source: Company website[/caption]  

What We Think

Livestream shopping is set to grow globally this year as consumers spend more time online, their shopping choices are increasingly inspired by influencers, and brands and retailers seek to make their products more discoverable. Retailers have used their live video shopping experiences to showcase their product assortment and steer at-home consumers toward product discovery and purchases.

Implications for Brands and Retailers

• The suite of new features marks an upgrade to the creator experience on YouTube and Instagram, as they look prioritize enticing and supporting creators and online influencers who possess large audiences and carry significant weight in driving consumer trends and purchases.
• A vigorous livestreaming activation is a signal that retailers are pouring more marketing resources into the space. More curated and frequent live shopping schedules suggests retailers are confident they can meet online consumers’ demand amid an intense crunch on the supply chain, a factor that has led others in the industry to pull back on their marketing activity.
• Livestream shopping events are spanning a broader variety of products, expanding beyond beauty and fashion. As live video content and new digital commerce integrations speak to consumers’ increasing demand for more seamless online shopping experiences, we are expecting more business companies to follow the trend.