Live streaming is a potentially new concept which helps brands to engage with audiences from all around the world. It helps creators to increase their reach and involve in real time conversations with their potential customers.
TikTok is currently working on the concept of making live stream commerce a workable concept, following the path of its Chinese sister app, Douyin. This will turn TikTok’s short-form video concept into a real money-making thing for a wide number of brands and creators.
In 2021, Douyin managed to generate $119 billion worth of sales through live broadcast and the number of users involving with eCommerce live-streams exceed 384 million. This is near to half the platform’s user base. On the basis of these stats, its apparent that TikTok is also headed towards incorporating live stream shopping in their system, because the more revenue this will generate, the more users will be associated with the application.
TikTok also specially created a survey by Ipsos to get to know better about why brands should be choosing to use live streaming commerce in their app. The results of the study are as follows:
· 1 out of 5 streaming users follow TikTok Live. Out of that group, 62% people watch it daily.
· 50% of TikTok users are more likely to shop after watching TikTok Live.
· TikTok live increases trust of its users that is why TikTok users are 2x more likely to consider TikTok Live a more trustworthy option for shopping.
Although TikTok users consider all kinds of hosts for branded lives, but the creators pick the most likeable kind. The data shows following:
· 68% users are interested in lives hosted by brand ambassadors
· 72% users are interested in lives hosted by celebrities.
· 77% users are interested in lives hosted by the creators.
These stats are quite convincing but it still has to be seen if western audiences respond the same way to live stream shopping as the Chinese consumers have responded. There’s a visible opportunity for those who can work on it right.
Infographic By: tiktok