Are you ready to take another dive into to world of the Social Commerce.
Live shopping has proven to work with everything from nail polish to spaceship parts, but which categories and audiences is it performing best for?
Leading product category The categories most showcased in live commerce are apparel and fashion, representing a 36% share, followed by beauty products and food, with roughly 7% each. Consumer electronics account for some 5%, and furnishing and home decor for almost 4%.
Share of live streaming by category:
Fresh food 7.4%
Home decor 3.6%
Demographics A recent study shows that middle-aged and senior consumers are increasingly embracing live shopping. By March 2020, live shopping was used by 265 million people—almost 30 percent of Chinese Internet users. However Generation Z and millennials are dominating. Share of consumers interested in Live Shopping by age group:
Live shopping drivers
In our observation, big-name influencers have played a major role in expanding the live shopping trend, but there are indicators supporting that micro and nano influencers will carry on the expansion to new levels. Here’s why:
Big-name influencers and celebrities with millions of followers are expensive to hire and don’t always make the best hosts
According to one survey, the engagement rates for nano-influencers on Instagram are ten times those for mega and macro influencers
The market share of micro-influencers continues to grow. From an 89% share in 2020, it grew to 91% in 2021.
Some final words. Live shopping is still an emerging channel with many unknowns and few established best practices. If the medium hasn’t transformed your industry yet, there is room for you to take a lead. On the other hand If it has, it’s not too late to jump on and start giving more of what your audience want from the online experience.
Next we’ll take a look at some of the many use cases of live shopping. We hope you’ll stick around.
Curious to learn more about social commerce?