DIpil Das
Livestreaming Latest, October 2021
Coresight Research’s Livestreaming Latest series provides regular updates on the variety of approaches that are emerging in live shopping 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 September 1, 2021, live video shopping tech provider Buywith launched a new set of live shopping features to enhance its white-label technology, including a multi-host capability and product spotlight functionality. The company has also onboarded James D'Adamo, previously Group Advertising Director of Fashion and Luxury at Hearst Magazines' Media Solutions Group, as Buywith’s Head of Sales to lead its US market expansion.
- On September 9, 2021,Whatnot, a livestream shopping platform and marketplace for collectors and enthusiasts, raised $150 million in a Series C round from returning investors Andreessen Horowitz and YC Continuity and new investor CapitalG. This is the third round of funding this year for the live-shopping startup and triples its valuation from the last round.
- On September 20, 2021, StageMe.Live, a Romanian and German startup that provides SaaS (software-as-a-service) live-shopping solutions for online retailers, started its first round of financing. The company aims to raise $186,000—the equivalent of 10% of its pre-money valuation, at $1.86 million. The financing round is aimed at investors interested in tech startups in areas with potential for growth in the immediate future, according to StageMe.Live.
- On September 21, 2021, live-shopping SaaS platform Swirl raised $250,000 in a pre-seed funding round led by global strategic investors and angels based in the US, Singapore, the Middle East and Europe. The funds will be used to support the company’s growth in India and optimize its multi-cloud video commerce technology platform.
- On September 22, 2021, the Globe Group, a French marketing agency, established a 16,000-square-foot space on the Avenue de la Grande Armée in Paris, consisting of 34 customizable livestreaming studios for retailers. The company also provides equipment and support including control room, recording, post-production and coaching programs to enable marketers to conduct their own live shopping shows.
- On September 23, 2021, social media management platform Emplifi acquired Go Instore, a UK livestreaming company. The acquisition of Go Instore strengthens its position as a customer experience leader and provides brands with an end-to-end platform for social marketing and personalized services.
- On September 23, 2021, NTWRK, a Los Angeles-based livestream shopping platform, secured $50 million in new funding, led by the Growth Equity business within Goldman Sachs Asset Management and global luxury group Kering, with participation from LionTree Partners and Tenere Capital.Allison Berardo, Vice President within the Growth Equity business, will be joining the board of directors at NTWRK. The company plans to use the funding to support its growth, continue creating content and facilitate e-commerce sales.
- On September 27, 2021, live-shopping marketplace app Kuick launched a new feature, Kuick Clips, that will enable brands to upload short videos of products and offer app users options to buy, swipe or browse product videos without necessarily watching a livestream.
- On September 28, 2021, TikTok, owned by Chinese company ByteDance, further expanded its investment in livestreaming e-commerce by rolling out new live shopping features. It now offers marketers a suite of shopping tools including shoppable links, livestream shopping, in-video purchase and product galleries in ads.
- On September 28, 2021, Shopstream, a live social e-commerce marketplace app, launched in Hong Kong, with plans to launch in Singapore by November 11 this year and expand into the rest of Asia, the Middle East, Europe and the Americas in 2022. The app positions itself as a “Netflix-like” experience, according to the company, enabling brands to build their community through authentic live interactions.
- On September 29, 2021, Switcher Studio Live, a content creation and video production software company, added new live selling and vertical video features to the Switcher Studio app in its latest update. Retailers can now use in-app templates to showcase product images alongside their logo and video as part of a fully customizable experience when streaming to platforms such as Facebook Live Shopping.
Three Trends We’ve Seen Recently
1. Live Shopping Events Bring Together Multiple Influencers and Brands Livestream events that feature multiple influencers and brands have the potential to connect to huge audiences—tapping into the follower base of each influencer and the existing customer base of each brand. Such events can bring together various products into one livestream and can drive conversations among different groups of consumers and with the hosts.- On September 1, 2021, Instagram Live launched its 10+ Days of Live Shopping event, running September 1–19, featuring influencer-led, indie and established labels. Beauty participants included Aveda, Clutch Nails, Dragun Beauty and Olivia Palermo Beauty, and Off-White’s Virgil Abloh was among the fashion participants. Celebrity hosts can create a closer dialog with fans and increase sales, while events help build a community through live interaction with viewers.
Live shopping events schedule (left); Gomez promoting Rare Beauty items (center); Palermo presenting her own beauty line product (right) Source: Company website [/caption]
- On September 30, 2021, Target kicked off its first live shopping event, the Fall Style Haul, with influencers Jazzmyne Jay, Essence Gant and livestream host Maria Marinaro. The live session aimed to promote women’s confidence through Target’s apparel products. The hosts discussed outfits and fashion tips to conquer the fashion fears of consumers, guided by live comments and interaction from the session’s viewers.
Gant (top left) and Jay (bottom left) offered fashion tips to livestream viewers Source: Target/YouTube [/caption] 2. In-Store Livestreaming Is Gaining Traction Retailers and shopping malls are increasingly broadcasting live shopping events from their stores.
- On September 14, 2021,beauty retailer Sephora partnered with live video-shopping provider Caast.TV to showcase Paco Rabanne’s perfume collection in a livestream hosted by the brand’s associates Morgane Boulangé and Noemie Savreux and influencer Henry Tran. This is the first time that one of Sephora’s livestreams has been set in a physical store—in Europe’s biggest mall, the Quatre Temps in Paris, France.
Sephora TV’s first store-based livestream, promoting Paco Rabanne perfumes Source: Caast.TV [/caption]
- On September 20, 2021, Carmila, a French commercial real estate company that owns 214 shopping centers in France, Spain and Italy, worked with live-shopping production company Made In Live to create a live stage in its Salanca shopping center in Claira, France. Live shows were hosted by the ambassador of the center. Through these shows, Carmila sought to promote independent retailers by increasing their visibility and offering customers an interactive shopping experience.
The Salanca shopping center’s livestream Source: Made In Live [/caption] 3. Embedded Live Videos Are Enhancing Product Pages Implementing shoppable videos into e-commerce webpages can allow shoppers to learn more about products and make direct purchases. Different models exist: Videos can feature designated “shop” buttons or drop bars allowing customers to select products that interest them. Alternatively, the video can also link to the segment of a recorded livestream explaining the item.
- On September 22, 2021, Albertsons, one of the largest food retailers in the US, announced a partnership with live-shopping tech provider Firework to develop short-form videos and livestream content on both the retailer’s site and Firework’s platform. The shoppable videos are 30 seconds long and optimized for mobile devices. They feature food-related content such as recipes and preparation tips.
Shoppable videos on Albertsons’ website (left) and a live shopping session on the company’s app (right) Source: Albertsons [/caption]
- French electronics retailer Boulanger has presented many live shopping series on its website by working with tech provider Caast.TV. Besides watching replays on the live-shopping page, consumers can also learn about the product on the description page with a video compiled from previous livestreaming sessions.
Washing machine product page on the Boulanger website (left) and a live shopping event featuring the product (right) Source: Boulanger [/caption]
Other Notable Livestreaming Events
- On September 8, 2021, fintech company Klarna launched a four-episode livestream shopping series in partnership with California-based brand Beautycounter. Hosted by Christy Coleman, celebrity makeup artist and chief artistic officer at Beautycounter, the livestreams offer insights, tricks and techniques for beauty routines.
Coleman hosts a Better Beauty Tutorial session with De Lowe, Co-Founder of lifestyle and wellness website How You Glow Source: Beautycounter [/caption]
- On September 10, 2021, Conforama, Europe’s second-largest home-furnishings retailer, premiered its first live shopping session on the Conforama.fr website. Advised by media agency Iprospect, the retailer presented selected home products with store associates explaining the product features. The 45-minute live show featured living room, bedroom and kitchen products and was hosted by interior designer Sophie Ferjani and influencer Lola Rossi.
Conforama associate showcasing items with Ferjani and Rossi Source: Company’s website [/caption]
- On September 10, 2021, in keeping with its Met Gala theme, “In America: A Lexicon of Fashion,” the Metropolitan Museum of Art teamed up with Vogue Magazine and Instagram for a live shopping event via Instagram Live, which allowed shoppers around the world to buy products from a range of American designers. The show included collections by Virgil Abloh’s Off-White, Emily Bode of Bode, Aurora James of Brother Vellies, Christopher John Rogers and Hillary Taymour of Collina Strada. The livestream was hosted by Eva Chen, Director of Fashion at Instagram, and attracted 115,000 viewers.
Vogue promotes its livestream event on Instagram, featuring Chen, Director of Fashion at Instagram (top left), Abloh, Off-White Founder (top right), Karefa-Johnson, New York-based stylist and editor (bottom left) and Mock, an American model (bottom right) Source: Vogue Magazine Instagram [/caption]
- On September 16, 2021, French home-goods retailer BUT, in partnership with French radio station NRJ, debuted its first live shopping event, presented by TV and radio host Sébastien Cauet. In a studio co-branded by BUT and NRJ, the 40-minute show featured six products selected by the brand, with Quidol’s live shopping solution supporting the show.
Cauet hosting the NRJ and BUT anniversary livestream Source: NRJ company website [/caption]
- On September 21, 2021, major French retail chain Monoprix launched its Autumn Wine Fair live shopping event. Chef Alexia Duchêne co-hosted with experts Thierry Desseauve and Charlène Arnaud, sharing exclusive wines and tasting tips.
Duchêne (left), Desseauve (center) and Arnaud (right) sharing wine tasting tips Source: Company website [/caption]
- On September 29, 2021, John Lewis & Partners launched live shopping services on its website and Instagram Live channel. The first event, hosted by stylist Gok Wan and Emily Gray, a Personal Stylist at John Lewis & Partners, showcased a range of everyday womenswear essentials from the new ANYDAY collection.
Wan (left) and Gray (right) hosting John Lewis & Partners’ first live shopping show Source: Company website/Instagram [/caption]
- On September 30, 2021, German beauty and personal care brand Nivea debuted its first live shopping show on its own website and social channels. The event was filmed from its own store in Beiersdorf and hosted by in-house associates Michelle Vogel, Silke Rusch and Maria Conzelmann.
Vogel (left), Rusch (center) and Conzelmann (right) host Nivea’s first livestream show Source: LinkedIn/Nivea [/caption]
- On September 30, 2021, Swiss watch brand Daniel Wellington held its second live shopping event in Mexico with fashion TikTok creator Valeria Aguilar, who presented the new Color Dials watch collection.
Aguilar presents Daniel Wellington products Source: Company website [/caption]
What We Think
Marketing spending is increasingly shifting toward livestreaming and influencer campaigns, and marketers are working with tech vendors to create tailored live shopping experiences to suit consumer appetite in the US and Europe. Implications for Brands and Retailers- Emerging livestreaming platforms have their own unique style, audience reach and personality. Many companies enlist influencers and celebrities who can draw their networks to the platform and shortcut acquisition. However, marketers should choose the host to reflect the brand’s personality and voice, aiming to build a distinctive identity among growing live channels.
- In-house livestreaming production can be challenging, time-consuming and costly for retailers due to the complex technology and long development times. Providing live shopping services for other brands is therefore an opportunity for those established in the space, and a cost-effective way for new entrants to experiment with the channel.