We know that live shopping has been growing in popularity in recent years. Research by Retail Touchpoints estimates that the live stream market will be worth $35 billion by 2024, in the US alone; and in China, the market grew from $3 billion to a staggering $171 billion in just three years. According to McKinsey, the fashion sector accounts for 36% of live stream shopping events, and the second biggest category is beauty β currently taking 8% of the market. This means that beauty is both a popular category for live stream ecommerce, and also a category with plenty of room for growth.Β
And grow it will. Anna Vale, a global expert on integrated marketing and communications for beauty brands, told BBJ that βlive shopping should be part of the ecommerce mix.β Brands that have already adopted it βare seeing steady results with instant purchasing and decision making by the consumer.βΒ
Crucially, Vale pointed out that integrating live shopping into a brandβs strategy must be thoughtful: βused not only as a conversion tactic, but as an acquisition strategy too.βΒ
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Thought-leadership and marketing education for tactical executors, brand builders, and changemakers.
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Updated December 2022
