Beyond e-commerce: ‘retailtainment’ and live shopping are the new normal

Consumers are rapidly changing the way they shop online. From the rise of the Asian e-commerce market, which is expected to reach $1.89 trillion by 2023, to the global increase expected to exceed $8 trillion by 2027, the world of digital shopping is rapidly evolving. This transformation is characterized by the convergence of retail and entertainment – ​​also called ‘retailtainment’ – and the growing popularity of video shopping experiences.

Younger target groups, such as generation Z, are well used to interactivity and mobile options. This generation has grown up with the internet and social media and expects meaningful shopping experiences when it comes to online purchases. Traditional e-commerce is no longer enough to maintain the loyalty of a younger audience, as they need personalization and easy and secure ways to complete online transactions. Furthermore, real-time interaction becomes essential – and this is where live video commerce shines. The host of a live-streamed video can answer questions and demonstrate products in real time, and a custom platform would also allow viewers to purchase the item directly from the video, with just one click.