2024 SNAPSHOT: Brands are moving away from conventional advertising methods and embracing formats like live commerce and shoppable TV, prioritising interaction and immersion to engage consumers.
What began as a niche experiment in Asia has evolved into a multi-billion-dollar industry, with brands worldwide leveraging real-time interaction, influencer-driven storytelling, and cutting-edge technology to transform passive browsing and watching entertainment shows into immersive shopping experiences.
From shoppable TV that blurs the lines between entertainment and ecommerce to TikTok live streams that sell out products in minutes, live commerce is redefining consumer expectations. It’s not just about selling; it’s about creating connections, sparking excitement, and delivering personalisation at scale.
Innovations like AI, augmented reality (AR), QR codes, and integrated video commerce platforms are reshaping how consumers interact with products, making the transition from inspiration to purchase frictionless.
“To truly capitalise on the dynamic world of live commerce, brands must carefully choose content creators who align with their values and connect with their target audience on a deeper level. This partnership is more than just a business transaction; it’s about creating a shared narrative that resonates authentically with viewers,” says Dennis Wakabayashi, the Global Voice of CX.
As we stand at the crossroads of retail innovation, one thing is clear: The future of shopping is live, interactive, and profoundly engaging.
CXM Today flips through the 2024 library, which contains works by industry experts and in-house writers, to present the trends and attitudes of the industry’s current state. The following three stories discuss live commerce and shoppable TV.
According to LG Ad Solutions’ Shoppable TV Report: 2024 and Beyond, 81% of CTV owners are influenced by TV ads in their shopping decisions, and 63% discover new brands and products through these ads. As platforms like Roku, Paramount, and NBCUniversal refine their approaches, the evolution of shoppable TV seems to gain momentum. Yet, the question remains: Can this emerging format deliver on its promises, or will it fail like the earlier attempts to merge commerce with TV?
2. Getting the Live Commerce Backend Just Right
Many UK brands are still struggling with the task of creating interactive live commerce sessions, which are crucial for decreasing customer churn rates and boosting revenue. The challenge lies in effectively engaging audiences in real-time, fostering meaningful interactions, and seamlessly integrating commerce elements into the live experience.
3. Is Live Commerce Changing the Role of the Influencer?
To evolve influencer marketing within the live commerce landscape effectively, balancing genuine engagement with strategic promotion is crucial. On one side, the push for authenticity demands influencers to be sincere in their endorsements, choosing to promote products they genuinely like and use. This authenticity resonates with audiences, building trust and loyalty, which are essential in a live commerce environment where immediate interaction can make or break a sale.