What: Live-streaming is poised to become a significant part of the e-commerce business by 2026.

Why it is important: Coresight reviews the set of opportunities for US retailers, which might be very well the same for companies outside of the US.

Livestream shopping, which is especially relevant to Gen Z, is estimated to grow in 2023 to $32b globally, and represent 5% of total e-commerce sales by 2026.

The key insights of the reports are the following:

-    As retail companies are increasingly rethinking the role of shoppable livestreams in their overall business, strategy, they will use emerging retail tech and a variety of livestreaming formats to meet consumer demand and deliver personalized experiences.

-    Brands and retailers with successful livestreaming campaigns understand the importance of consistently scheduling streams and meeting consumer demand for interactive livestreams, discounts and giveaways.

-    While various retail verticals have adopted livestreaming, educational content and transparent information remain key strategies to maintain loyal customers for companies across the retail space.

-     Marketers are looking to capture customer testimonials and partner with industry experts and knowledgeable influencers to provide consumers with authentic and informative cont

Here are the 10 key trends shaping livestreaming e-commerce in 2023 in detail, within 4 recommendations:

-    Recommendation One – Utilize emerging technology:

o    Trend #1 – Companies will use multiple platforms to reach more viewers: US consumers use an average of 2.5 platforms to watch livestream shopping events, and retailers will respond by tapping into multiple channels

o    Trend #2 – Effectively meet target consumers by analyzing user data: 46% of surveyed companies had collected and analyzed data from livestream shopping events to generate detailed customer insights

o    Trend #3 – Livestreaming can support personalization strategies: 26% of surveyed companies said one-to-many livestreaming events were “most appropriate” for their audience, while 3 in 10 livestream viewers preferred the one-to-many format

-   Recommendation Two – Promote livestreaming programs:

o    Theme #4 – Regular scheduling encourages return viewers: Two-thirds of all surveyed retailers hold livestreaming events more than once a week

o    Theme #5 – Incentives will drive sales: 36% of livestream viewers will watch a livestream to participate in a product giveaway or challenge

-    Recommendation Three – Transform content to what consumers desire:

o    Theme #6 – Livestream shopping will expand to new retail verticals: In the past few months, home improvement and grocery have seen accelerated consumer spending via livestreams

o    Theme #7 – Livestreams will include more educational content: Of the five key factors determining the success of a livestream, retailers found that educational content has the biggest influence on customers

o    Theme #8 – Consumer demand for transparency will increase: 47% of respondents expect to see more industry experts’ reviews or customer testimonials during livestreams moving forward

-    Recommendation Four – Partner with talent to expand online communities:

o    Theme #9 – Authentic conversations will drive organic user growth: Customers w/ authentic testimonials are the top-rated type of livestream hosts, per 42% of all respondents; They’re particularly popular w/ Gen X

o    Theme #10 – Livestreams will create new online communities: As consumers demand more exclusive livestreaming formats, brands and retailers are likely to work with content creators and community leaders to grow tight-knit groups of mission-driven consumers who follow both the brand.

10 key trends shaping livestreaming e-commerce in 2023