Live commerce surges as shoppers fork out cash online in real time
‘Live commerce is set to redefine online shopping. It allows users to buy products in real time, typically advertised by hosts during live video events on platforms such as TikTok Shop and Instagram Live. It’s essentially QVC for the social media age — but with scope for celebrities and brands to experiment with the format.
Global sales on these platforms hit $918.9 million last year, according to a Verified Market Research study, and are projected to more than triple by 2031, to about $3.1 billion. And TikTok Shop is among those quickly gaining ground, reporting 15 million sellers worldwide on its app at the end of 2023 after launching that September.
A Capital One Shopping Research study from this year projects that the number of TikTok shoppers will grow to 39.5 million by 2026.’
Read more at Washington Post–> Live commerce surges as shoppers fork out cash online in real time
