Global Video Shopping Market To Be Dominated By Apparel & Accessories During the Forecast Period
Increasing adoption of smartphones, easy and
affordable access to technology, and the ease of shopping will drive the global
video shopping market during the projected period.
According to TechSci Research report, “Video
Shopping Market – Global Industry Size, Share, Trends, Competition,
Opportunities, and Forecast, 2018-2028,” the global video shopping market is
expected to grow at an impressive rate during the forecast period, 2024-2028,
owing to convenience where customers can shop from the comfort of
their own homes or any location with an internet connection, saving time and
travel expenses. Moreover, customers receive real-time guidance and
personalized recommendations from salespeople, replicating an in-store shopping
experience. Video shopping allows customers to see a close view of products,
examine details, and observe demonstrations, enhancing their understanding of
the items. It is worth noting that video shopping gained significant popularity
during the COVID-19 pandemic as a means to maintain retail operations while
adhering to social distancing guidelines. However, even as restrictions ease,
video shopping continues to be embraced as a complementary or standalone
shopping option due to its convenience and benefits. The rise of e-commerce and
digital platforms has created a conducive environment for live shopping. With
more people shopping online, there is a demand for interactive and immersive
shopping experiences that replicate the physical retail experience. Live
shopping provides a convenient and seamless shopping experience. Viewers can
make purchases directly within the livestream, eliminating the need to navigate
through separate websites or apps. This instant gratification appeals to
consumers who seek immediate access to products without the wait associated
with traditional online shopping. In live shopping, brands offers limited-time
offers, exclusive deals, and flash sales create a sense of urgency among
viewers, compelling them to make purchases during the livestream to avoid
missing out on special discounts or unique products.
Additionally, live shopping encourages
active viewer engagement. Users can ask questions, seek recommendations, and
interact with hosts, creating a participatory and immersive experience. This
interactive element fosters a sense of community and builds stronger
connections between hosts, influencers, and consumers. Live shopping is not
solely about transactions; it also provides entertainment value. Livestream
hosts often incorporate engaging content, storytelling, product demonstrations,
and contests to keep viewers entertained. This blend of shopping and
entertainment enhances the overall experience and encourages longer viewer
engagement. With the proliferation of smartphones and mobile internet usage,
live shopping aligns with the preferences and habits of mobile users. The
ability to participate in livestreams, browse products, and make purchases
directly from mobile devices contributes to the rising popularity of live
shopping. Social media platforms such as Instagram, Facebook, and TikTok have
become popular spaces for live shopping. These platforms have large user bases
and provide convenient features for brands and influencers to showcase and sell
products in real time, creating a seamless shopping experience for consumers.
Browse over XX market data Figures spread through XX pages
and an in-depth TOC on "Global Video Shopping Market”
The global video
shopping market is segmented based on type, product type, payment method, and
region.
Based on type, the
market is divided into shoppable
videos and livestream shopping. Livestream
shopping is growing with fastest growth rate due to the advantages associated
with them.
Based on the product
type, the market is divided into apparel & accessories, health &
personal care, consumer electronic, and others (home furnishing, food &
beverage, etc.). The apparel & accessories segment is growing gradually during
the forecast period owing to evolving fashion trends, and the surplus spending
power of the shoppers.
Key market players in the global video shopping market include:
- Amazon.com, Inc. (Amazon Live)
- Smartzer Ltd
- Bambuser AB
- buywith inc
- Restream, Inc.
- Oveit, Inc. (Streams.live)
- CommentSold, Inc.
- Buy It Live
International, Inc
- GhostRetail Inc.
- Loop Now Technologies,
Inc. (Firework)
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“Throughout the
projected period, with the accessibility of video shopping and the potential
for international viewership, businesses have the opportunity to expand their
market reach beyond geographical boundaries. Live video shopping eliminates the
constraints of physical stores and allows businesses to connect with customers across
the world, tapping into new markets and customer segments. By capitalizing on
the opportunities, businesses can leverage the power of video shopping to drive
customer engagement, increase sales, build brand loyalty, and gain a
competitive edge in the market during the forecast period”, said Mr. Karan
Chechi, Research Director with TechSci Research, a research-based global
management consulting firm.
“Video Shopping Market –
Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F. Segmented
By Type (Shoppable Videos, Livestream Shopping), By Product Type (Apparel &
Accessories, Health and Personal Care, Consumer Electronic, Others (Home
Furnishing, Food & Beverage, etc.), By Payment Method (Online Payment, Pay
On Delivery), By Region, Competition”, has evaluated the future
growth potential of video shopping in the global market and provides statistics
and information on market structure, size, share, and future growth. The report
is intended to provide cutting-edge market intelligence and help decision
makers take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities present in the global video shopping market.
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