The Future Of E-Commerce is LIVE!
Live Commerce today dominates the way Chinese consumers shop online.
- Alibaba’s Singles’ Day campaign in 2020 generated sales worth $7.5 billion in the first 30 minutes on their live commerce platform, Taobao.
- In 2020, China’s Live Commerce sales touched $171 billion (by 2023, this number will reach $423 billion).
Live Commerce offers a compelling approach to online shopping. The total immersion of vertical, short-form video and the uniqueness of live stream shopping ideally create the ‘phygital’ shopping experience.
- In the last quarter of 2020, Indian E-Commerce grew by 36% YoY
- Indians consumed 55% of mobile internet data watching short-form videos in 2020
- According to a Bain & Company report, India’s video-watching user base has grown by 25%, rising to 350-500 million users
- India’s live commerce market GMV will touch $5 billion by 2025
- According to market research firm RedSeer, the Fashion industry will generate 60-70% of GMV
- Beauty and personal care (BPC) GMV alone will reach $1 billion GMV via Live Commerce
Brands need to create a video-led online shopping experience that caters to mobile-first, modern consumers and gives them complete access to customer data.
Are India’s consumer brands ready for the Live Commerce revolution?
In this session, we will be talking about:
- Understanding the popularity of video among consumers
- Evolution of India’s modern, hyper-connected consumer
- Ruling the attention economy with video-powered engagement
- The rise of short-form vertical video in business
- Video as a full-funnel engagement solution
- Upgrading the traditional online shopping experience with short-form, live video