What: Fashion and beauty companies are betting on livestreaming to engage their communities and generate sales revenue.

Why it is important: Livestreaming could become a major strategy for retailers looking to connect with consumers, but retailers need to create a proper strategy to see what works for them.

Super-apps like WeChat and TikTok have become very popular among consumers. Livestreaming took off five years ago in China, and now most social media platforms have fully integrated livestream functionality.

Forrester projects that China’s livestreaming industry will be worth USD 239 billion this year and have a growth rate of 27% through 2025. And according to Coresight Research, the U.S. livestreaming industry is expected to reach USD 11 billion this year.

Livestreaming brands to create a dialogue between the brand and their customers. Through real-time feedback and seamless check-out integrations, livestreaming can offer a lot to retailers looking to connect with their audience.

Numerous retailers have started to tap into livestreaming, but few have developed a playbook for this medium and how it fits in with their overall strategy. Fashion and beauty brands need to consider the right platform, scheduling broadcasts, and assembling an in-house team to make sure livestreaming creates value for the brands.

How Brands Can Make It Work