Live-Shopping Trends in 2023

Key Takeaways

• Live shopping is booming: The live streaming e-commerce market is expected to grow to $245.15b by 2026.
• The trends are: Live shopping with influencers, the integration of AR and VR technology, the trend toward one-to-one live shopping sessions, and the intersection of live shopping with social commerce.

Key trends to watch for in 2023 include the rise of live shopping with influencers, the integration of AR and VR technology, the trend toward one-to-one live shopping sessions, and the intersection of live shopping with social commerce. These trends can help brands capitalize on new opportunities, drive sales and increase conversions. But before we revisit these key trends, we’ll first highlight the global boom live shopping experienced during and after the pandemic and how well influencers and live shopping fit together.

Read also: The basics of live streaming for influencer marketing

The Global Boom in Live Shopping After the Pandemic in Figures

Live shopping is a form of e-commerce in which a host directly introduces a product, product line, or brand. In the past year, social networks have worked hard to simplify live shopping and make it more attractive through new features for both creators and users. The Covid19 pandemic in particular has increased the trend toward live shopping over the past three years. Statista data shows that live stream purchasing increased by an average of 76% globally from before the pandemic to 2021.

According to a report by Global Data, the live streaming e-commerce market is expected to reach $245.15b by 2026, growing at a Compound Annual Growth Rate (CAGR) of 32.6% during the forecast period. This is the result of  the increase in online shopping due to pandemic containment measures and social distancing.

Influencer marketing is also not innocent in terms of the global boom in live shopping. The advantages of influencers are well known, as they come across as authentic and credible and thus convince their target audience of a service or product. As mentioned earlier, many platforms are promoting live shopping and launching new features that make the processes even easier.

Unsurprisingly, live shopping has enjoyed great success in China in particular, generating revenues of around $158b as early as 2020. One of the most popular platforms in China is Taobao, which generated sales of 12.8b euros during special shopping events, such as the “China Double Eleven,” while Alibaba even generated around 64b. Thus, the number of live streaming influencers on Taobao also increased. However, if we again compare the increase in live shopping since the Covid19 pandemic, China is not the fastest growing market, but Europe (86%) and the Middle East (76%) are.

How Do Influencer Marketing and Live Streaming Fit Together?

As we all know, influencer marketing is about using the influence of trusted voices to promote products and services to a specific target audience. With the uptick in live shopping, influencers can now take their influencer marketing campaigns to the next level by interacting with their audience in real time and allowing them to buy the promoted products directly.

One of the most popular platforms for live shopping is TikTok, which has gained a lot of popularity among both influencers and businesses. TikTok Live allows influencers to host live streaming sessions where they can showcase their products and interact with their audience. This platform allows KOLs to create a sense of urgency and exclusivity, which can increase sales and conversion rates.

Instagram Live is another attractive platform  for live shopping with influencers. Through this channel, influencers can answer questions and provide additional information about the products. The immediacy increases trust and credibility with the audience.

Live shopping as a variant of your influencer marketing campaign can grow your audience and increase your visibility. Moreover, live shopping can help increase sales and boost conversion rates.

The Most Important Trends for Live Shopping in 2023

In 2023, e-commerce is one of the most important trends in the marketing industry and digital world, read here about the other trends for influencer marketing in 2023. Live shopping is based on e-commerce  and particularly effective in conjunction with influencer marketing. The recommendation of influencers can also have a great effect asynchron, but as already noted, the endorsement of a product in real time seems even more authentic and credible.

On the Kolsquare influencer marketing blog get all the details and tips for social commerce on TikTok.

Among the most popular live shopping influencers are @jlo and @hudabeauty, both of whom have hosted successful live shopping campaigns on their respective platforms. Mega pop star Jennifer Lopez teamed up with TalkShopLive in December 2022 to air the first shoppable video in co-op with Vogue’s “Beauty Secrets” video series. The Vogue series features celebrities showcasing their routines and favorite products. Lisa Sequino, founder of JLo Beauty & Lifestyle notes, “We strive for innovation not only in our products, but also in the way we connect with our customers, and we strongly believe that shoppable, authentic content is the next generation of e-commerce.”

Another trend to keep an eye on in 2023 is the use of AR (Augmented Reality) and VR (Virtual Realuity). AR and VR technologies allow businesses to provide immersive and interactive shopping experiences for their customers. For example, customers can try on clothes virtually or see how a piece of furniture would look in their home before making a purchase. Companies such as IKEA have already begun experimenting with AR and VR technologies, and more and more companies are expected to follow suit in the coming year.

Part of the IKEA Home Experience via Demodern

Furthermore, one-to-one live shopping sessions are becoming increasingly popular with brands and businesses. This allows companies to offer their customers a personalized shopping experience by connecting them in real time with personal shoppers or sales representatives. This type of live shopping is especially beneficial for companies that sell luxury or high-end products, as it allows them to offer their customers a more exclusive and personalized shopping experience. Read more about five successful influencer marketing campaigns in the luxury sector on the Kolsquare influencer marketing blog.

The intersection of live shopping and social commerce is  a trend to keep an eye on in 2023. Social commerce refers to the use of social media platforms for e-commerce activities, such as buying and selling products. Live shopping allows businesses to engage with their audience in real time, and social commerce platforms like Instagram and TikTok have integrated live shopping features that allow businesses to promote products and make sales directly through the platform.

In summary, live shopping is evolving and becoming more sophisticated, with new trends and technologies being promoted in 2023. Brands should keep an eye on the rise of live shopping with influencers, the integration of AR and VR technology, the trend toward one-to-one live shopping sessions, and the intersection of live shopping with social commerce. By keeping up with these trends, businesses can utilize  those opportunities to drive sales and increase conversions.