Jersey City — Picture this, it’s an early Saturday morning in the mid 2000’s. You’re a kid, in your PJs, making some cereal and ready to watch cartoons flooded with commercials of epic toys – only for you to be met with a “call to purchase” demand.
The commercial fades before you can grab an adult, the number is gone, the product goes unpurchased.
Prior to the Web 2 boom that made the internet (and online shopping) widely accessible, this was the reality for anyone who entertained what is now a prehistoric form of “live shopping.”
Beyond toy commercials, think of channels like QVC or the Home Shopping Network that build product tutorials to boost sales. These platforms serve as the root of what Live Stream Shopping is today.
Only now, thanks to us having the world at the tap of our fingertips, we may never miss a live sale again.
Earlier this month, a NYC-based video shopping startup sune, launched its beta app to provide its target demographic of younger generations a more seamless on-demand live shopping experience.
On the platform, brand founders, hosts and influencers can live stream themselves demonstrating, trying-on or reviewing products. Consumers in return can interact with brand representatives and real-time ask questions before choosing to purchase an item.
The concept of live shopping pulls upon existing social media norms like influencer marketing or #GRWM videos that fuel sale spikes.
Brands who have participated in live shopping have reported witnessing an uptick in sales conversions which isn’t surprising considering the fact that 60% of shoppers who tried livestream shopping said it improved their shopping experience.
While live stream shopping is not the most mainstream activity in the U.S. the market is estimated to be worth $68 billion by 2026, which would more than triple its current value of $20 billion.
Considering the popularity behind live streaming on platforms like Instagram, TikTok and Switch – I would not be surprised if more apps like sune enter the space in the near future.
Live streaming overall serves as a point of digital connection for Gen Z. It allows us to connect with our favorite entertainers, influencers, and gamers – so why shouldn’t we use it to shop?
Keeping it gee, I’m ready to engage with live shopping for the first time. Next week, I’ll review the platform and compare it amongst any similar stage competitors.