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Insight of the Day: I made £20k in one month with livestream shopping – the ‘QVC for Gen Z’

Livestream shopping has emerged as a popular trend in recent times, particularly among Gen Z consumers. The concept of livestream shopping combines the convenience of online shopping with the interactive experience of in-store customer service, offering a digital hybrid shopping experience that can be accessed on mobile devices[1]. This trend has been fueled by the rise of social media platforms, which have made it easier for businesses to reach a wider audience and engage with customers in real-time[3].

In the US, the livestream shopping market is estimated to be worth $68 billion by 2026, with a significant portion of that growth coming from the fashion industry[2]. Clothing is the top-purchased category for livestream shopping in the US, and the industry has been expanding rapidly, with the top 10 live shopping apps experiencing a 77% year-over-year increase in installs in the first half of 2022[2].

One of the key drivers of the growth in livestream shopping is the social aspect of the experience. Gen Z consumers, who are digital-first and always on the lookout for new and interactive ways to shop, are particularly drawn to the social aspect of live shopping. Platforms often have chat features that let viewers interact with hosts and fellow viewers, creating a sense of community[3].

Livestream shopping also offers a more personalized and meaningful shopping experience compared to traditional online shopping. It allows for real-time interaction between buyers and sellers, enabling instant purchases and product demonstrations[3]. Additionally, many events have time-sensitive elements or a real-time stock counter, generating a "Fear of Missing Out" (FOMO) among viewers, often leading to impulse purchases[3].

In conclusion, livestream shopping has become a game-changer in retail, offering an immersive and quick way to shop. It has been embraced by Gen Z consumers, who appreciate the social aspect of the experience and the convenience of shopping from their mobile devices. The trend is expected to continue growing, with the US market projected to reach $68 billion by 2026

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