Live streaming keeps getting more and more popular, and entertainmerce is a multi-billion dollar trend you don’t want to miss!
Throughout the years, live streaming has gained strength as a powerful communication medium. It’s no wonder that all the algorithms of all major social media platforms, such as Instagram, Youtube, Twitter, Facebook, and LinkedIn, tend to favor live content. Considering the close connection with the audience that live streaming allows, a multi-billion dollar trend has emerged in China in the last couple of years, known as “entertainmerce,” provided by Key Opinion Leaders (KOLs).
Entertainmerce is a trend that uses live streaming to combine both entertainment and e-commerce delivered by Key Opinion Leaders. This article will delve into this multi-billion dollar retail revolution that is taking the world by storm. Read on to learn how this phenomenon and live streaming, in general, is actually closer to our daily lives than we think.
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What is “Entertainmerce?”
For a few years now, businesses in China have been using KOLs to advertise and sell their products through live streams. The phenomenon is a reiteration of QVC TV programs but in real-time broadcasts. As a result, audiences can watch, comment, ask questions, and even purchase things on the spot.
This innovative form of marketing has created enormous opportunities for businesses and those who want to make money by carrying products from different suppliers and advertising them on live streams. Similar to “Influencers,” or content creators, these Key Opinion Leaders, known as KOLs, help businesses make sales to their audiences. Since they’re on a live stream, they can address any questions and concerns these potential customers may have in real-time and help seamlessly close the sale.
Why Entertainmerce is Slowly Being Adopted on a Global Level
On the most surface level, it would make sense for this practice to be adopted by businesses far and wide as a cheap, ingenious, and easy way to generate sales while also engaging their current and target customers. Entertainmerce combines all the positive attributes of live streaming with the added advantage of converting engagement to sales and immediate ROI.
According to an article written by Dr.Anuradha Arthanari for Linkedin, “Retailing is not just about buying the product in the outlet, it is about a sought-after, unique experience which could satisfy the joined members seeking them.”
Customers these days expect a whole experience attached to their purchasing process, and as many events have evolved to become fully virtual, marketers must learn to meet their needs.
As mentioned in the same Business Insider article previously cited, Kim Kardashian sold 150,000 bottles of her KKW perfume in mere minutes on a live stream. She featured it on one of the top live streamers’ (Viya) show last year on Tmall, the main rival to online Chinese retail giant, Alibaba’s, Taobao Live. Moreover, she managed to amass a whopping viewership of 13 million for the event.
The same article specifies that e-commerce delivery specialist ParcelHero believes that the practice will soon emerge in the UK and that young shoppers will quickly adopt it.
Key Takeaway
We have already seen the rapid adoption of live streaming by businesses and content creators as proven success in drawing the attention of – specifically – Gen Y and Z audiences.
Innovative businesses should watch for trends like this one, especially considering the emergence of Amazon Live or similar e-commerce giant platforms. It’s crucial to strike while the iron is hot, employ KOLs in your industry and take full advantage of this phenomenon’s immense potential for ROI.
If you want to start live streaming, make sure you have the right tools to keep your audience engaged. With ManyCam, you can add multiple video sources, switch between them live, add picture in picture layers, and much more. Download it for free today!
