Livestreaming Latest, March 20221

Live shopping has taken off during the pandemic and continues to pick up steam each month. Coresight Research’s 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 February 1, 2022, Swedish live video shopping tech provider Bambuser signed a 12-month partnership with Moët Hennessy Louis Vuitton (LVMH) to integrate one-to-one live shopping solutions into its retail digital offerings, to enable its personal shopping, customer service, post-sales or consultation agents to engage in two-way video calls with customers. Live shopping technology allows tthe luxury sector to provide customers with access to authenticated products.
• On February 2, 2022, Luxury Promise, a luxury resale platform, raised $11 million in funding led by existing investors, including a number of prominent luxury goods executives. The company has created livestreams with extensive educational content to let consumers interact with brand experts, authenticators and sellers. It will use the funding to fuel expansion into new markets, ramp up hiring across operations, logistics and finance functions, and expand the ground-breaking live shopping platform across multiple time zones and languages.
• On February 2, 2022, Whatnot, a live shopping platform and marketplace for collectors and enthusiasts valued at $1.5 billion, acquired Pastel Labs at an estimated price of $5–$10 million. The company has onboarded Jeff Chang, a former Pinterest technical lead, to lead its growth team and Ludo Antonov, the former head of growth and product engineering for Lyft, as VP and head of engineering.
• On February 4, 2022, Swedish live video shopping tech provider Bambuser announced a 12-month contract to develop live video shopping solutions with the iconic British fashion and luxury goods boutique Browns. Browns will use both Bambuser’s one-to-many and one-to-one live video shopping capabilities globally to deepen its experiential retail offering.
• On February 9, 2022, the chat-based online fashion retailer Threads Styling began experimenting with live shopping following the launch of its new website. The company’s business model was previously rooted in personal shopping services, with its personal shoppers interacting directly with customers on messaging services such as WhatsApp and WeChat. The retailer is now adopting a marketplace model, hosting online pop-ups by selected brands and taking commission on each sale.
• On February 9, 2022, live shopping SaaS platform Swirl partnered with e-commerce platform Shopify to expand its live commerce footprint. Shopify merchants will receive a full-stack, plug-and-play live video shopping solution that they can use without additional tech investment or training. Sellers on Shopify can choose from one-to-many and one-to-one live shopping interfaces or short shoppable videos.
• On February 10, 2022, Indian social commerce platform Xuppi launched a live shopping feature on its platform to offer entertaining shoppable programs for consumers. Sellers on Xuppi can partner with verified influencers and live streamers to reach out to their fanbase by creating content around the products and labels, culminating in exclusive deals.
• On February 14, 2022, livestream technology provider Firework recruited Drew Cashmore, who spent over a decade in a variety of leadership positions at Walmart, as its new Head of Global Marketing. The company previously hired senior talent from leading players including Google and American Express. The expansion of its senior executive team is a sign of the company’s rising profile as a global technology leader, as it offers direct-to-consumer brands, retailers and media publishers seamless, insight-rich livestreaming, shoppable video and live commerce solutions.
• On February 17, 2022, Beem, an app that lets users livestream in augmented reality, raised a $4 million seed round. Founded in 2017, the company originally undertook work for businesses and brands, but is now targeting consumers directly and developing a prototype for AR glasses.
• On February 21, 2022, YouTube’s chief product officer Neal Mohan announced the rollout of a new symbol to indicate ongoing live streaming broadcasts on the platform. The new feature is designed to make it easier for YouTubers to find live content as they browse.  

Three Trends We’ve Seen Recently

1.  Elevating Independent Content Creators

With livestreaming viewership surging, retailers are looking to creator-led content as an opportunity to forge a connection with customers. There has been a significant shift toward featuring original or exclusive programming across livestreaming services. Exciting potential exists for independent creators to have their voices heard on the live channel through social media, marketplaces or working with a brand to reach a broader audiences.

• On February 14, 2022, Valentine’s Day, Instagram took a further step in its livestream shopping venture with a range of its influencers and brands. Fashion and beauty influencers Paige DeSorbo and Kristie Dash joined @shop1 on Instagram for a live shopping event and shared dating advice, wellbeing tips and the latest products from the beauty, clothes, home and jewelry categories. The event allowed Instagram to maximize its Valentine’s Day shopping push and showcase its range of evolving live shopping tools, which it hopes to use to tempt more creators into posting via its app.

[caption id="attachment_143482" align="alignnone" width="350"] Fashion influencers DeSorbo (bottom) and Dash (top) discuss the latest treat-yourself trends
Source: Instagram[/caption]

• On February 23, 2022, TikTok launched the TikTok Agency Center for creators. Activating the function through an account’s TikTok LIVE settings enables the creator’s profile to be viewed and contacted by talent agencies. Although additional tools for the program are still in development, the goal is to enable creators to refine their live broadcasting strategies and develop a wider audience.

[caption id="attachment_143483" align="alignnone" width="350"] TikTok’s new Agency Center feature for creators
Source: Matt Navarra Twitter[/caption]  

2.  Expanding Regularly Scheduled Livestream Programming

As retailers continue to refine their livestream shopping options, many are arranging live events in longer and more regular schedules in order to maximize customer engagement and awareness.

• Building on an earlier successful trial, Walmart launched a regular schedule of themed live shopping sessions during February–March 2022, in collaboration with the Talkshoplive platform. This represents the most recent chapter in Walmart's experimentation with various livestreaming platforms and techniques. The expansion into regular livestreaming programming provides another opportunity for Walmart to gather data on when and how consumers shop, which it can leverage across its broad portfolio of private labels and branded products in apparel, beauty, electronics, grocery and personal care.

[caption id="attachment_143484" align="alignnone" width="550"] One of Walmart’s “Baby Days” live shopping sessions
Source: Talkshoplive[/caption]  

• On February 1, 2022, Brut, one of Europe's leading digital media companies, partnered with French retailer Carrefour to launch Brut Shop, where users will be able to make online purchases via livestreams and social networking. Carrefour has been a pioneer of digital social commerce in France, with nearly 50 live shopping events in 2021. In partnership with a digital media company that targets millennials, the retailer hopes to tap into a younger consumer demographic.

[caption id="attachment_143485" align="alignnone" width="550"] Brut Shop as seen via various channels: Instagram (left), brand’s website (middle) and TikTok (right)
Source: Brut Shop[/caption]  

• On February 12, 2022, the German drugstore chain dm debuted its first live shopping program, "dmLIVE," with a series of campaigns across health and personal care topics on its app. Entrepreneur Judith Williams set off the first livestreaming stage by discussing the ingredient niacinamide and presenting the relevant skin care products in the live video, with 30% discount coupons.

[caption id="attachment_143486" align="alignnone" width="350"] Dm’s first live shopping session
Source: LinkedIn[/caption]  

3.  Grasping Live Shopping Opportunities in the Metaverse

Embracing new technologies such as the metaverse or NFTs (non-fungible tokens) has proven promising for tech platforms and brands in the fashion and electronics sectors. The metaverse, for example, creates he possibility of livestream shopping events where customers can sit next to a brand ambassador, and then immediately be able to step into a virtual dressing room, try something on, add it to their cart, and check out.

• On January 25, 2022, YouTube outlined its priorities for the year ahead, which include exploring the applications of NFTs for its creators—not least as a verifiable way for users to own virtual art, photos or videos. According to Youtube’s Chief Product Officer, Neil Mohan, creators will connect with fans and sell NFTs in the emerging world of “Web3 and its elements.” In this future iteration of the internet, users will be able to build virtual lives, share spaces, transact and collaborate in the metaverse, and it is possible that YouTube could integrate NFTs to allow collectors to gain exclusive access to a creator’s content, or earn special NFT badges during livestreams.
• On February 9, 2022, Samsung pioneered a new way of promoting livestream shopping in the metaverse. The brand invited virtual influencer Zero to unveil its Samsung Galaxy S22 phone at a live shopping event co-hosted by TikTok creator Liam Kalev. Zero is one of a growing number of avatar influencers gaining popularity on social media platforms that brands use to promote their products. Offbeat Media, the creator of Zero, has developed a backstory for the character, describing him as “a fully virtual being who lives in his bunker inside of the Nexus universe.” As the concept of the metaverse evolves, virtual influencers could become a powerful new medium for brands to interact with consumers.

[caption id="attachment_143487" align="alignnone" width="550"] Virtual influencer Zero takes a selfie during the livestream with TikTok creator Liam Kalev
Source: Company website[/caption]  

Other Notable Livestreaming Events

• On February 2, 2022, Rihanna’s lingerie brand, Savage x Fenty, launched a live shopping channel, “Savage X Live,” allowing customers to shop looks from the intimate apparel brand while watching live music performances. The initiative kicked off with a performance by rap duo City Girls, filmed in the brand’s first brick-and-mortar store in Las Vegas. Online viewers were able to shop the performers’ looks as the show went on, including the brand’s newest Valentine’s Day collection and its collaborative collection with the artists.

[caption id="attachment_143488" align="alignnone" width="550"] Savage x Fenty’s first live shopping event, featuring artists City Girls
Source: Company website[/caption]  

• On February 11, 2022, Indian e-commerce company Flipkart added livestream shopping to its app. Previously the company experimented with live shopping events with social media influencers and partnered with short video platform Moj in order to target young consumers in India. Its app now features a “feed” on the navigation bar where prominent influencers can showcase their fashion picks in livestreams and users can make a purchase directly from the feed.

[caption id="attachment_143489" align="alignnone" width="250"] Flipkart’s new feed on its app
Source: Flipkart app[/caption]  

• On February 15, 2022, e-commerce platform Wish introduced a live video shopping channel, “Wish Clips,” to improve the customer experience on its marketplace. Users can view product details in the video, visit the merchant’s store and add a product to their shopping cart. The new feature is available for Android users in the US, Canada, Germany and six other countries, and the platform plans to offer it to iOS users in April. The company will release more features this year to give merchants new ways to showcase products.
• On February 22, 2022, Danish skincare brand Olehenriksen ramped up its livestream shopping events on Sephora TV in France. With support from livestream shopping tech provider Caast.tv, the live show was broadcast simultaneously to eight different countries with real-time English subtitles.

[caption id="attachment_143490" align="alignnone" width="550"] Olehenriksen’s first live shopping session, featuring founder Ole Henriksen (left)
Source: Sephora TV[/caption]  

• On February 27, 2022, e-commerce platform eBay launched a series of new live shopping events in France called “Live by eBay.” The monthly live auctions will last two hours and feature 30–50 pre-selected items across various themes.

[caption id="attachment_143491" align="alignnone" width="550"] eBay France’s live shopping portal Live by eBay
Source: Company website[/caption]  

• Home improvement retailer Lowe’s has set up its first shoppable livestreams, responding to rising home ownership among tech-savvy millennials. As part of its new campaign, "DIY-U by Lowe’s," the chain will broadcast two livestreams a month from one of its stores, as well as host three monthly in-person workshops in all of its stores. The retailer will update in-store signage to spread the word about the livestreams, and local store information online will show in-person as well as live-streamed workshops.

[caption id="attachment_143492" align="alignnone" width="550"] Lowe’s livestream shopping workshops
Source: Company website[/caption]

What We Think

As the livestream race continues to take shape, advertisers are banking on cost-effective and impactful strategies to reach more shoppers, who are spending more time online due to the pandemic.

The intersection of unique brand experiences and smart adaptive technology will reach its heights in the metaverse. However, the success of live interactive session depends on community, experience and engagement, all of which hinge on a brand’s ability to bring real, human customers along on this digital journey.

Implications for Brands and Retailers

• The ability to leverage independent creators to grow an organic and loyal customer base will become one of the core competences for online retailers and platforms.
• As some of the world's leading retailers establish recurring livestream shopping schedules, other retailers may be encouraged to follow their example, keeping livestreaming in the limelight and perhaps providing the endorsement that more cautious retailers need. It will likely at least encourage retailers to test livestreaming for themselves.
• NFTs, extended reality environments and virtual characters allow brands and retailers to provide shoppers with immersive and engaging content and exclusive experiences. Brands and retailers should begin to think about their digital presence and leverage the advantage of virtual-world opportunities to attract young consumers while the metaverse is still in its infancy.