The evolution of online shopping has seen a new trend emerge: live commerce. With the livestream commerce market expected to nearly triple to $55 billion by 2026, it is clear that customers want this interactive experience.
By 2026, live commerce sales might even make up a substantial 20% of all eCommerce sales. Since the onset of COVID, the popularity of live selling has surged by 76%. Further, when comparing conversion rates, live commerce outshines traditional e-commerce, boasting rates that are up to 10 times higher.
Let me share the most crucial Live commerce statistics and live shopping data you should be aware of right away. 🎥🛍️📊
Live Commerce Statistics: The Key Numbers
- The livestream commerce market was worth approximately $20 billion in 2022; by 2023, it could reach $31.7 billion; and by 2026, it is expected to nearly triple to $55 billion.
- Live commerce accounts for about 2% of the eCommerce market and 0.3% of the total retail market.
- Live selling has grown by 76% since the start of COVID.
- Live commerce conversion rates are up to 10X higher than traditional e-commerce.
- By 2026, live commerce sales could account for 20% of all eCommerce sales.
- Live commerce has a conversion rate of up to 30%.
- Live shopping enhances the online shopping experience by up to 60%.
Live Shopping Statistics: The Key Data
- 46% of US consumers have made a purchase through a livestream event and would do so again.
- 45% of consumers want to see more live videos from brands on their social media.
- Nearly 58% of global internet users used Facebook for live streaming shopping, followed by Instagram with 46% and TikTok with 16%.
Sources: (Mintel Group, Activate Consulting, AstoundCommerce, Sprout Social, Statista, McKinsey, Klarna Insight Report)
Table of Contents
46% of US Consumers Revisit Livestream Shopping Experiences
|Leverage livestream events for sales||The propensity for repeat purchases indicates livestream success.|
|Invest in livestream platforms||Given the positive response, platforms supporting livestreams are crucial.|
|Develop interactive shopping experiences||The data implies that interactive livestream events can drive sales.|
Source: Mintel Group
US Livestream E-commerce Expected to Triple to $55 Billion by 2026
|Livestream e-commerce sales are rapidly increasing in the US||The projected growth from $17 billion in 2022 to $55 billion in 2026 indicates a strong market expansion|
|Businesses should consider investing more in livestream e-commerce||The substantial projected growth rate suggests high potential returns for investments in this sector|
|Adaptation to emerging trends in e-commerce is crucial||The surge in livestream e-commerce indicates a shift in consumer behavior, requiring businesses to adapt|
Source: Activate Consulting
Live Selling Skyrockets 76% Amid COVID
|Live selling requires immediate expansion.||The 76% growth indicates a robust demand, necessitating prompt action.|
|Need for training in live selling skills.||Significant growth implies an increasing need for capable personnel.|
|Invest in technology that supports live selling.||The surge suggests potential return on technological advancements.|
|Plan for a live selling dominant future.||Consistent growth indicates that live selling is not a temporary trend.|
The 76% increase in live selling since COVID’s start reflects a marked shift in consumer behavior, suggesting companies should invest heavily in this area, equip their staff with requisite skills, and strategize for a future dominated by live selling.
45% Consumers Demand More Live Videos from Brands on Social Media
|Brands need to increase live video content.||Consumer preference indicates demand for more live interactions.|
|Strategy should focus on interactive content.||The 45% statistic underscores the value of engagement.|
|Live video can drive brand visibility.||A sizable audience interest ensures increased visibility.|
|Invest in live video production capabilities.||This emerging consumer trend will likely need dedicated resources.|
The data indicates that 45% of consumers desire more live video content from brands on their social media. This underscores the need for brands to not only produce more interactive content, but also invest in the necessary capabilities to deliver high-quality live videos for better visibility and consumer engagement.
Source: Sprout Social
58% Global Internet Users Favor Facebook for Livestream Shopping
|Facebook dominates the live streaming shopping space||With 58% of global internet users utilizing it for live streaming shopping, it’s a key platform for businesses|
|Instagram and TikTok should not be overlooked||Despite lower percentages, 46% and 16% respectively still represent substantial audiences for live streaming commerce|
|Diversification across platforms is key||Utilizing different platforms can reach more varied audiences, increasing potential customer base|
China’s Livestream Market Soars from $3bn to $171bn in Three Years
|China’s livestreaming selling market has experienced explosive growth||The increase from $3 billion to $171 billion within three years illustrates high market potential|
|Businesses should study China’s livestreaming market strategies||The rapid growth suggests successful strategies that could be replicated in other markets|
|China may provide a forecast for global trends||The significant growth in China could signal future growth in livestreaming sales worldwide|
Live Shopping Boosts Online Experience by 60%
|Live shopping significantly enhances the online shopping experience||The improvement of up to 60% indicates strong consumer preference for this method|
|Incorporation of live shopping into business models is advisable||Enhanced shopping experiences can increase customer engagement and sales|
|Live shopping can be a key differentiator||Businesses that adopt live shopping can gain a competitive advantage in the market|
Source: Klarna Insight Report