added by Sam Blumenthal · updated 2y ago
How livestream shopping marketplaces are trying to become mainstream
- Seven months after adding live video to its social commerce app, Verishop is expanding the feature by building a “pipeline of influencers,” who get paid 10% commission for sales, co-founder and CEO Imran Khan said. It recently brought on Elle magazine as a live video partner.
from How livestream shopping marketplaces are trying to become mainstream by Saqib Shah
Sam Blumenthal added 2y ago
- Already the norm in Asia, Coresight Research predicts that the livestream shopping market is poised to reach $6 billion this year and $25 billion by 2023. In the social media space, Facebook, TikTok and Google-owned YouTube are turning to e-commerce and affiliate marketing as another means of monetizing content creators, whose videos garner hundred... See more
from How livestream shopping marketplaces are trying to become mainstream by Saqib Shah
Sam Blumenthal added 2y ago
- The average time users spend on Versihop has gone up 50% since the live video update, and the streams are generating a 4x higher conversion than the overall rate. Khan views video as a means of helping shoppers to discover the independent brands the platform specializes in. Verishop does not provide user or sales numbers, but its base is 80% female... See more
from How livestream shopping marketplaces are trying to become mainstream by Saqib Shah
Sam Blumenthal added 2y ago
- Online shopping sales in 2020 grew 32.4% from 2019 to $791.7 billion, according to figures from the U.S. Department of Commerce. E-commerce ended last year accounting for 14% of all U.S. sales, up from 11% in 2019.
from How livestream shopping marketplaces are trying to become mainstream by Saqib Shah
Sam Blumenthal added 2y ago