The Latest Livestream Shopping Industry Statistics Explained
Livestream shopping generated about $5 billion in sales in U.S. in 2020.
The statistic that livestream shopping generated about $5 billion in sales in the U.S. in 2020 highlights the significant impact of this emerging retail trend on the economy. Livestream shopping involves influencers or brands showcasing products in real-time to audiences online, allowing viewers to make purchases instantly. The $5 billion in sales indicates the growing popularity and effectiveness of livestream shopping as a marketing and sales channel, particularly in the context of the COVID-19 pandemic when online shopping surged. This statistic reflects the changing dynamics of consumer behavior and the increasing convergence of e-commerce and entertainment in the digital age.
The U.S. livestreamed shopping industry is forecast to reach $25 billion by 2023.
The statistic indicates that the U.S. livestreamed shopping industry, which involves broadcasting live video content to showcase and sell products to consumers, is projected to grow significantly and reach a total market value of $25 billion by the year 2023. This suggests a substantial increase in the use of livestreaming technology as a sales and marketing channel for retailers and brands to engage with customers and drive online purchases. The growth of the livestreamed shopping industry highlights the shifting consumer shopping behaviors towards digital platforms and the rising popularity of interactive and visual retail experiences.
In April 2020, during the height of COVID-19, Taobao Live saw a 166% surge in sellers doing livestreams year over year.
The statistic states that in April 2020, which was at the peak of the COVID-19 pandemic, Taobao Live experienced a significant increase in the number of sellers engaging in livestreams compared to the same period in the previous year. Specifically, there was a 166% surge in the volume of sellers conducting livestreams on the platform year over year. This surge indicates a notable shift in consumer behavior, possibly driven by the global lockdowns and restrictions which encouraged more individuals and businesses to adopt online selling strategies. The increase in livestreaming sellers demonstrates a notable trend of businesses adapting to the challenges posed by the pandemic and leveraging digital platforms for sales and marketing purposes.
The overall gross merchandise volume (GMV) sales of Taobao Live reached 400 billion yuan ($63 billion) in 2019.
The statistic indicates that the total value of goods sold on Taobao Live, an online live streaming platform operated by Alibaba, amounted to 400 billion yuan (equivalent to approximately $63 billion) in the year 2019. This metric, known as gross merchandise volume (GMV), represents the sum of all sales transactions processed through the platform within that period. The substantial figure highlights the platform’s significant role in facilitating e-commerce transactions and generating revenue for both sellers and the platform itself, showcasing the immense popularity and scale of Taobao Live within the Chinese online retail market.
In China, livestream shopping had earned $170 billion in 2020.
The statistic “In China, livestream shopping had earned $170 billion in 2020” indicates the substantial economic impact and growth potential of the livestream shopping industry in China. Livestream shopping, a trend where consumers can watch live broadcasts by influencers or brands and make purchases in real-time, has witnessed a significant surge in popularity and usage among Chinese consumers. The $170 billion revenue generated from livestream shopping in 2020 highlights the immense scale of this industry and signals a shift towards more interactive and engaging forms of e-commerce. This statistic underscores the transformative power of technology and social media platforms in reshaping consumer behavior and driving sales in the retail sector.
Over 60% consumers prefer live video to pre-recorded content in the retail industry.
The statistic states that a majority, over 60%, of consumers in the retail industry have a preference for live video content over pre-recorded content. This preference indicates that consumers value real-time interaction and engagement when consuming retail-related content, suggesting that live video offers a more engaging and authentic experience compared to static pre-recorded videos. Retailers can leverage this insight by incorporating live video into their marketing and sales strategies to better connect with their target audience, build relationships, and drive consumer engagement and sales.
In a 2021 PwC survey, 78% of consumers said they were shopping online more frequently than before the pandemic.
In a 2021 PwC survey, it was found that 78% of consumers reported an increase in their online shopping frequency compared to pre-pandemic levels. This statistic highlights a significant shift in consumer behavior as a result of the COVID-19 pandemic, with a large majority of individuals embracing online shopping as a preferred method for purchasing goods. The increase in online shopping can be attributed to factors such as safety concerns, convenience, and a shift towards digital options during lockdowns and social distancing measures. This statistic underscores the evolving nature of consumer preferences and the growing importance of e-commerce platforms in meeting the needs and demands of modern consumers.
56% of Chinese consumers have made a purchase via a livestream.
The statistic ‘56% of Chinese consumers have made a purchase via a livestream’ indicates that a majority of consumers in China have engaged in online shopping through livestreaming platforms. Livestream shopping has gained significant popularity in China, where consumers can watch live broadcasts of products and make purchases in real-time. This statistic highlights the increasing trend of e-commerce through livestreaming in China, showing a strong consumer interest in interactive and immersive shopping experiences. The high percentage of consumers participating in livestream shopping suggests a shifting preference towards more engaging and convenient ways of making purchases in the Chinese market.
Amazon expects to attract 30% of new users with its ‘Live’ feature by the end of 2022.
This statistic indicates that Amazon intends to bring in 30% of its new users through its ‘Live’ feature by the conclusion of the year 2022. This suggests that Amazon has identified the ‘Live’ feature as a key tool for customer acquisition and growth in the upcoming year. By setting a specific target of 30%, Amazon is aiming to not only increase its user base but also leverage the interactive and engaging nature of live streaming to attract potential customers and retain existing ones. Monitoring the achievement of this target will allow Amazon to assess the effectiveness of the ‘Live’ feature in driving user engagement and ultimately business success.
During the 11.11 Shopping Festival on Taobao in 2019, livestreaming generated 20 billion yuan ($2.85 billion) in sales.
The statistic reveals that livestreaming played a significant role in driving sales during the 2019 11.11 Shopping Festival on Taobao, generating a massive 20 billion yuan ($2.85 billion) in sales. This indicates the growing influence and effectiveness of livestreaming as a marketing and sales strategy in e-commerce platforms. The substantial revenue generated through livestreaming during this event highlights the immense potential of this medium in boosting consumer engagement and conversion rates. It also attests to the evolving nature of online shopping trends, with consumers increasingly turning to livestreaming as a preferred way to discover and purchase products in a more interactive and personalized manner.
ShopShops, a global buying service, facilitated over $10 million USD in transactions in its first year of operation, largely thanks to livestream shopping.
The statistic indicates that ShopShops, a global buying service, was successful in generating over $10 million USD in transactions within its initial year of operation, primarily driven by livestream shopping. Livestream shopping is a method where hosts showcase and sell products in real-time through live video broadcasts, creating an interactive shopping experience for consumers. The significant transaction value achieved by ShopShops highlights the effectiveness of livestream shopping as a sales strategy, potentially due to factors such as real-time engagement, product demonstration, and the ability for customers to ask questions and make purchases immediately during the broadcast. This statistic suggests that livestream shopping played a crucial role in driving sales and success for ShopShops in its first year.
Among retailers, 80% would switch to platforms that offer interactive video technology.
The statistic that 80% of retailers are willing to switch to platforms that provide interactive video technology suggests a strong interest and potential demand for this advanced technological feature within the retail industry. It indicates that the majority of retailers recognize the benefits of interactive video technology and are open to embracing it to enhance their business operations. This statistic highlights a significant opportunity for platform developers and technology providers to capitalize on this trend and cater to the growing market demand for interactive video solutions that can potentially revolutionize the way retailers engage with customers and drive sales.
About 26% of beauty shoppers have viewed a shopping livestream in the last three months.
This statistic indicates that approximately 26% of individuals who purchase beauty products have watched a shopping livestream within the past three months. This implies that a notable portion of beauty shoppers are engaging with live video content to explore and potentially purchase beauty products. Shopping livestreams have become a popular trend in the beauty industry, providing consumers with a more interactive and immersive shopping experience. The percentage suggests that this form of marketing and sales strategy is resonating with a significant segment of beauty shoppers, highlighting the importance of incorporating livestreaming into beauty brands’ marketing campaigns to attract and engage customers.
Luxury fashion brands experienced a 45% increase in views, a 123% increase in interactions, and a 85% increase in sales from livestream shopping in 2020.
In 2020, luxury fashion brands witnessed substantial growth in their online presence and sales through livestream shopping. Specifically, there was a notable 45% rise in views, indicating a significant increase in the audience engaging with the livestream content. Furthermore, interactions surged by an impressive 123%, suggesting that viewers were actively participating and engaging with the brands during these livestream sessions. As a result, the sales from livestream shopping showed an 85% increase, reflecting a strong correlation between the heightened viewer engagement and the positive impact on the brands’ bottom line. This data underscores the effectiveness of leveraging livestream technology in enhancing brand visibility, audience engagement, and ultimately driving sales for luxury fashion brands in 2020.
More than 80% of livestreamed shopping in China occurs on mobile devices.
The statistic that more than 80% of livestreamed shopping in China occurs on mobile devices highlights the significant dominance of mobile platforms in facilitating online shopping experiences in the country. This data suggests that the vast majority of Chinese consumers prefer to engage in livestreamed shopping activities using their mobile devices over traditional desktop or laptop computers. The high mobile usage for livestreamed shopping can be attributed to the convenience, accessibility, and interactive nature of mobile platforms, which allow users to easily browse products, view demonstrations, and make purchases on-the-go. This statistic underscores the importance of mobile optimization for brands and retailers looking to tap into the thriving livestreamed shopping market in China.
The average viewer spends 15 to 30 minutes shopping via live-streaming events.
The statistic ‘The average viewer spends 15 to 30 minutes shopping via live-streaming events’ suggests that viewers engaging with live-streaming events participate in shopping activities for a considerable amount of time. This statistic likely provides insight into consumer behavior, indicating that live-streaming events are effective in capturing viewers’ attention and encouraging them to engage in shopping activities. The range of 15 to 30 minutes implies that the viewing and shopping experience is engaging enough to keep viewers interested for an extended period, which could potentially lead to increased sales and conversion rates for businesses utilizing live-streaming as a marketing strategy.
Over 37% of shoppers said they would be interested in purchasing products directly through social media.
The statistic suggests that more than a third of shoppers are open to the idea of buying products directly through social media platforms. This indicates a significant potential market for businesses to explore and leverage social media as a sales channel. The finding implies that there is a growing trend of consumers being comfortable with making purchases through social media, perhaps due to the convenience and ease of access to products. Companies may benefit from incorporating social commerce strategies to tap into this willingness among shoppers to engage in direct buying via social media platforms.
November 2020, saw 22% of beauty brands globally conducting their own livestreamed events.
In November 2020, 22% of beauty brands worldwide were observed to be conducting their own livestreamed events. This statistic implies that a significant portion of beauty brands were leveraging live streaming as a marketing or promotional tool during that period. Live streaming allows companies to engage directly with their audience in real-time, showcasing products, demonstrating usage, and answering questions. The fact that nearly a quarter of beauty brands were utilizing this technology suggests a growing trend towards digital marketing strategies within the beauty industry, as businesses seek innovative ways to connect with consumers and differentiate themselves in a competitive market.
63% of US internet users watched livestreaming content regularly in 2020.
The statistic “63% of US internet users watched livestreaming content regularly in 2020” indicates that a significant majority of internet users in the United States engaged in consuming live streaming content on a regular basis during the specified year. This high percentage highlights the widespread adoption and popularity of livestreaming platforms for entertainment, information, and communication purposes. The data suggests that livestreaming has become a mainstream form of media consumption among internet users in the US, reflecting a shift in consumer behavior towards interactive and real-time content delivery. Additionally, this statistic underscores the importance of livestreaming as a key player in the digital media landscape and signals the potential for continued growth of this trend in the future.
In 2020, 42% of US retailers were already offering a form of livestream shopping experience or planning to do so in the next year.
The statistic indicates that in 2020, approximately 42% of retailers in the United States were either currently offering a livestream shopping experience or had plans to implement one within the following year. Livestream shopping allows customers to view and purchase products in real-time through online streaming platforms, offering a more interactive and engaging shopping experience. The fact that a significant portion of retailers were adopting or considering livestream shopping demonstrates a growing trend in the industry towards utilizing technology to connect with consumers and enhance their shopping experience. This statistic suggests that livestream shopping is becoming an increasingly popular and relevant strategy for retailers in the U.S. to adapt to changing consumer preferences and behavior.
References
0. – https://www.www.businessofapps.com
1. – https://www.www.businessinsider.com
2. – https://www.www.retaildive.com
3. – https://www.www.businessoffashion.com
4. – https://www.www.emarketer.com
5. – https://www.www.bigcommerce.com
6. – https://www.www.scmp.com
7. – https://www.www.pwc.com
8. – https://www.6park.news
9. – https://www.digiday.com
