Will 2023 See Shoppable Live-Stream Rise In The US And Europe?

The Chinese live-stream shopping industry has transformed into a multi-billion retail business. People in the region engage in real-time shopping events hosted by content creators, influencers, or shopping hosts, so much so that the industry’s worth has doubled since 2020. 

Inspired by the success of live shopping in China, the tech giants like Meta, Amazon, Walmart, TikTok, and Pinterest have tried to make it a hit in Europe and America. But the trend didn't take off in the regions. Even Meta, the multinational technology company, decided to shut down Facebook's live shopping feature after reporting low responses from the western audience. 

Experts, however, believe that live-stream shopping will pick up pace in 2023. "Live-stream shopping will likely continue to be popular, particularly in larger countries like the US or Europe, in 2023. However, viewers will drop in and out of live-streams instead of sitting through one for an hour. Locally, overseas live-streams showcasing popular branded products in Europe will target viewers who cannot travel to Europe but still covet a bag," says Pamela Seow, Strategic Lead, Seventeen Brand, in our influencer marketing predictions report for 2023. 

A study reveals that more Europeans are now exploring virtual shopping events hosted by brands, especially after the 2020 Covid-19 pandemic. In a survey, 70% of the European respondents voted yes to being open to live shopping. On the other hand, the US live-stream shopping revenue accounted for $11 billion in 2021 and is estimated to touch $57 billion in 2025. The statistics show that people are getting accustomed to live-stream shopping and marketers like you can bank on it being a success in the US and Europe. 

Influencers will play a significant role in making live-stream shopping a regular practice in western countries. They are trusted by their followers and will be able to get the audience on board with entertaining and informative content. 

As 2023 approaches, marketers are employing ways to profit through live-stream shopping, and you should too. Read our influencer marketing trends report for 2023 to learn more about how influencers will drive fun and interactive live-stream shopping.

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