Live shopping on TikTok is a tough sell for creators
In China, live-streaming sales are expected to reach $623 billion next year, according to eMarketer. In comparison, a recent report by a research firm coresight predicts $25 billion in live sales in the United States next year. Meanwhile, the concept of social commerce, which encompasses all sales on social media, live or not, is booming. Last year, eMarketer forecasts Social commerce sales would reach $80 billion in the United States by 2025, and more than half of Gen Z consumers between the ages of 18 and 24 were considered “social shoppers.”
Despite the obstacles, marketers are still optimistic about the future of live shopping in the West.
“[Live shopping] is a new way to experience products and empower every designer to be their own store,” Ryan Detert, CEO of influencer marketing firm Influential, wrote in an email. “Each platform pursues a future where creators and commerce are interchangeable.” Detert says 20% of Influential’s client base have implemented live branded content into their strategies in the past few months.
Indeed, Amazon, YouTube, Snap, Pinterest, Meta, and Twitter have all recently stepped up their efforts in the live shopping space, and TikTok creators are already hosting lives where followers can send gifts or tips.
Petco began hosting Facebook Live shopping events in April last year, showcasing products from its house brands, Youly and Reddy. The brand ran another in beginning of december for holidays. “Live social continues to be a hit and we’ll have more Facebook live events on the horizon later this year,” according to a Petco spokesperson.