E-commerce is becoming increasingly cool. Shoppable media is a prime example. But as mockingly pointed out by pop icon Grace Jones and Barclaycard, being trendy isn’t a guarantee of success. That’s just as true for brands hoping to join the new wave of digital shopping as it is for payment service providers.
While there may be questions around whether their credentials are ‘hip’ enough, it’s clear brands have much to gain from joining the shoppable party. The e-commerce market is due to keep ballooning (by another $10.87tn in the next few years) and consumers are more open to buying on channels outside established shopping platforms, especially social media.
The challenge will be ensuring messages reach audiences at the right time, and in the right way, to resonate and drive results.
Surfing the livestream tide
While already popular across Asia and especially China (two-thirds of Chinese consumers bought this way in 2020), livestreaming only recently gained ground in the west.
M&S recently launched M&S Live, a livestream shopping service where customers can hear more about product ranges and ask questions live. A Clarins pilot with livestreaming platform Bambuser fueled conversion rates of 30%, convincing the beauty brand to sign up for a long-term deal across 10 global markets.
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