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The market for live stream shopping platforms is heating up beyond China

In early July, US live stream commerce company talkshoplive (TSL) secured a $ 6 million seed expansion. This brings the total funding to date to $ 10.5 million. Direct rival Popshop Live also received $ 20 million in the same week, demonstrating an explosive growth in livestream shopping beyond its previous major market, China.

Livestream e-commerce has begun in China in the last few years and is expected to generate more than $ 60 billion in revenue this year, with market experts expected to generate $ 6 billion in revenue in the United States.

“Live stream commerce is not only a trend in China, but through a pandemic, it’s a multi-billion dollar new phenomenon, and its growth is accelerating day by day,” said Benchmark, director of Popshop Live in early July. Said Matt Cohler.

Live stream shopping is gaining in popularity. By the second half of 2020, 32% of YouTube users worldwide watched livestreamed video on the platform within the past month, according to the GlobalWebIndex.

“Our team carefully monitored the development of live commerce in the United States and considered different strategies in this area,” said Gordon Rubenstein, managing partner of Raine Ventures, a key investor in talkshoplive. I am. When their latest fundraiser was announced.

Big Tech Company Joins Live Stream Shopping Enthusiasm

Over the past year, Facebook has launched Live Shopping Friday, testing live shopping with beauty, fashion and skin care brands and creators, and Wal-Mart has partnered with TikTok at a livestream shopping event.

YouTube is also increasing its investment in this area with the acquisition of Indian video shopping app Simsim. Google is also integrating video shopping into its shopping search business, experimenting with features and integrating with YouTube’s integrated video shopping experience.

Last but not least, Instagram executive Adam Mosseri said, “We’re no longer a photo-sharing app,” adding that the company will focus on four key areas: creators, video, messaging, and shopping. I did.

Image: talkshoplive

The market for live stream shopping platforms is heating up beyond China

Source link The market for live stream shopping platforms is heating up beyond China

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