Live shopping in the US is estimated to become a $6 billion market this year and $25 billion by 2023. Originally popularized in Asia, this method of ecommerce is like a modern QVC show meets Instagram live.
Small businesses, resellers, and collectors are using livestream shows to make thousands of dollars in sales. Boutique owners can show off their latest products or auction off collectibles in real-time, establishing a new way to reach customers at home. Now a store located in one city can reach viewers across the country, vastly widening its net of loyal customers.
See how business owners are using livestream platforms to broaden their customer base and sell their products.
How to get started selling on live shopping platforms
You can start livestream selling by either launching a new business or incorporating it into an existing company. Either way, it's important to identify the niche you're serving by looking at what your customers and followers are interested in, entrepreneurs told Insider.
You don't need much more than a smartphone to start livestreaming, but there are a few tools you can purchase to elevate the experience for viewers.
Read more:
- WATCH: Our webinar on how to sell on livestream
- Here's everything business owners need to know — and 3 ways to get started.
- Our guide on the top live shopping platforms, success stories from expert streamers, and the gear you need to get started.
Apps and platforms to know
There are several apps and platforms that offer livestream shopping technology, but it still hasn't quite reached mass adoption in the US. Plus, building up a loyal following is imperative to seller success. Before you get started, learn which platform best suits your needs and audience. Some platforms cater to niche communities of fans or collectors, while other offer special features and tools.
Read more:
- The best live shopping apps and how to use them to sell to customers all over the world
- Meet the live shopping founders transforming US e-commerce
Sellers give their tips for success
Insider talked to sellers who average $1,000 to $9,000 in sales per livestream. They gave their tips and advice for getting started, building your audience, and hosting an engaging show.
Read more:
- An 8-step plan to launch an online streaming business from people who make $9,000 in one day selling on social media
- How a New York retailer uses a Snapchat-meets-QVC livestreaming app to make $1,000 in 4 hours
- 5 steps to starting a livestream and growing your fan base, from a top seller on Popshop Live who made $60,000 on her side hustle last year
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