Online shopping is being reimagined as retailers, brands, and digital platforms from around the world are leveraging the tremendous value that live stream shopping brings. But this is nothing new in Asia, where businesses are leaning hard toward this massive trend.
A 2021 survey cites that two-thirds of Chinese shoppers have purchased products via live stream, proving that our target audience wants it. And early movers among Western retailers have begun to reap significant sales.
A recent global survey of 13,000 consumers and 4,000 businesses across 29 countries shows that 61% of customers prefer to shop via social media. This jumps to 63% when responses are filtered by Gen Zers.
Meanwhile, traditional e-commerce campaigns are falling flat as engagement and conversion rates decline and the number of abandoned carts rises.
The task now falls on marketers to find a way to successfully connect their brand personality to their customers and vice versa.