The Retail Exec (BWZ) | English | A five-step brand strategy guide to livestream shopping, the commerce format China proved out before the West caught on. Written for North American retail executives.

Excerpt:

What Is Livestream Shopping and Why Is It the Next Big Ecommerce Trend?

Livestream shopping is transforming China’s ecommerce landscape. Projections show that the Chinese livestream shopping sector will reach $720 billion in 2023 and now accounts for 10% of its ecommerce revenue.

Every year, the hype surrounding livestream shopping peaks in the fall. On October 24, 2022, the first day of Taobao’s Double 11 shopping festival pre-sales, China’s livestream shopping superhost Austin Li drew 460 million people and broke the sales record he established the previous year by reportedly selling $2.9 billion worth of items in a 10-hour session.

Livestream shopping has become a significant part of the Double 11 shopping day (i.e., November 11th) in China. And while livestream shopping hasn’t taken hold in the rest of the world quite the same way, analysts predict the global livestream ecommerce market will reach $35 billion in 2024— three times what it was in 2021.

In this article, we’ll explain what livestream shopping is, how it works, and how to get your ecommerce business strategy ready for the coming boom.