Video Shopping Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2024-2032F. Segmented By Type (Shoppable Videos, Livestream Shopping), By Product Type (Apparel & Accessories, Health & Personal Care, Consumer Electronic, Others (Home Furnishing, Food & Beverage, etc.), By Payment Method (Online Payment, Pay On Delivery), By Region, Competition

The demand for video shopping is driven by the accessibility of a personalized and convenient video shopping experience as live shopping via video enables brands to sell products with the same level of personalization as they offer customers in-store. The global video shopping market is anticipated to grow during the forecast period due to the rising penetration of smart homes, both in developing and developed regions across the world.

Global Video Shopping Market Scope

Global Video Shopping Market Overview

According to US Census Bureau 2022 report, retail sales from eCommerce platforms in 2022 was 14.6% of total retail sales in the US. However, even when compared to China's overall eCommerce numbers, live shopping has experienced significant growth improvements. In China, TaoBao dominates with almost 80% of the live shopping market. Thus, the global video shopping market is expected to witness high growth rate during the forecast period.

Moreover, video shopping offers an element of authenticity and trust to consumers. The live format allows for real-time interactions between hosts, influencers, and viewers, providing an opportunity for immediate product demonstrations, answering questions, and addressing concerns. This transparency and personal touch build trust and confidence in the products being showcased which is driving the demand for video shopping globally. 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. Such factors collectively contribute to the rising popularity of live shopping as a unique and engaging way for consumers to discover, shop, and interact with products in the digital landscape.

Global Video Shopping Market Trends

Moreover, user-generated content (UGC) is playing a significant role in video shopping. Brands are encouraging customers to create and share videos featuring their products. UGC videos provide authentic and relatable experiences for potential buyers, and brands often incorporate UGC into their marketing campaigns and product showcases.

Additionally, personalization is a key trend in video shopping. Brands are leveraging customer data and artificial intelligence (AI) algorithms to deliver personalized video recommendations, providing a tailored shopping experience and increasing the likelihood of conversion. These new trends in video shopping showcase the dynamic nature of this emerging trend, as brands and platforms continue to innovate and leverage video content to create engaging and interactive shopping experiences for customers.

Global Video Shopping Market Challenges

Video shopping relies heavily on robust technical infrastructure, including reliable internet connections, high-quality video streaming capabilities, and secure platforms. Ensuring consistent and seamless video experiences can be challenging, especially in areas with poor internet connectivity or inadequate technical resources. Providing a satisfactory user experience in video shopping is crucial. Thus, businesses need to design intuitive and user-friendly interfaces that facilitate easy navigation, product browsing, and seamless video interactions. Moreover, video shopping involves sharing personal information and engaging in real-time interactions with unknown individuals or businesses. Establishing trust and ensuring security are significant challenges. Thus, overcoming these challenges can lead to a more seamless and engaging video shopping experience for both businesses and consumers.

Recent Developments in the Global Video Shopping Market

• In 2023, StoryStream announced the launch ofits video shopping tool. With the support of its new platform, online retailerscan incorporate live video shopping into their eCommerce websites to provideusers with a more engaging experience.
• In 2022, Amazon announced the launch ofInspire, a new short-form video and photo stream from Amazon that enables usersto browse products and ideas and make purchases from content made byinfluencers, brands, and other users.

Global Video Shopping Market Opportunities

Collaborating with influencers and celebrities to host live video shopping sessions can amplify brand reach, increase product exposure, and drive sales. Influencers can leverage their authenticity, expertise, and following to endorse products, provide recommendations, and influence purchase decisions.

Video shopping can be integrated with other channels such as websites, mobile apps, and social media platforms. Customers can seamlessly transition from watching a video to making a purchase, adding items to their cart, or accessing additional product information. This cross-channel integration can provide a seamless and convenient shopping experience for customers.

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