How Brands Can Succeed in Live Shopping: An Influencer Marketing Business
- Social media shopping, or social commerce, is expected to take off in the United States this year.
- The platforms are particularly favorable to live purchases or creators selling products in real time.
- Influencer marketing company Influential explained how brands can optimize their live buying strategy.
Social shopping is important and growing.
82% of social media users between the ages of 18 and 54 have discovered products on social media and purchased items from their phones, according to research by Influencer Marketing Factory. 57% brought products to a live shopping event.
The market will reach $52.5 billion in the United States by 2023, according to eMarketer, more than double its size in 2020. In social commerce, there is live shopping, the practice of selling products at live events.
Social media companies are responding to this trend, with Instagram, TikTok and more recently Pinterest adding features like buyable links and online storefronts. And Facebook, Instagram and TikTok have experimented with native live shopping features.
For example, last summer Facebook hosted Live Shopping Fridays, events in partnership with brands such as Sephora and Bobbi Brown that allowed users to purchase products live.
A number of independent live shopping platforms also exist in the United States, including TalkShopLive, Ntwrk, Livescale, and Popshop Live.
Ryan Detert, CEO of
Influential platform, is optimistic about live shopping in the United States.
More than 20% of Influential’s clients have included live branded content in their strategy, Detert told Insider. By the end of the year, he estimates that the number will reach 50%.
“By the end of 2022, if brands don’t spend big bucks and shop live or
, they’ll feel like they’re in the Stone Age,” he said.
Influential has prepared a slideshow outlining the current US live shopping market and how brands can optimize their live shopping strategy across different platforms including Facebook, Instagram and TikTok.