Live shopping took off in China—and now brands are gearing up for its takeoff in the west. Like a modern day QVC, clothes and products are being displayed on Gen Z and Millennials’ social media feeds more and more. According to Coresight Research, the live shopping industry is “predicted to grow to $20 billion this year from $6 billion in 2020, and to $57 billion in 2025.” Now, brands like e.l.f. Beauty Inc. are getting a head start. This year, e.l.f organized shopping events on platforms including TikTok and Ntwrk (a live-shopping app). While live shopping isn’t bringing in a ton of revenue yet, it’s allowing brands to grow their engagement with young consumers. YPulse research shows that Gen Z and Millennials are already shopping their feeds, and young consumers interested in live shopping have grown from 42% in 2020 to 50% today. (WSJ)
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