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

Consumers are rapidly evolving the way they shop online. From the rise in Asia’s e-commerce market, expected to soar to $1.89 trillion USD by 2023, to the global surge anticipated to hit over $8 trillion USD by 2027, the digital shopping realm is evolving rapidly. This transformation is characterized by the merging of retail and entertainment — coined as ‘retailtainment’ — and the burgeoning popularity of video shopping experiences.

Younger audiences such as Gen Zs, are well used to interactivity and mobile capabilities. This generation grew up around the internet and social media and they expect meaningful shopping experiences when it comes to online purchases. Traditional e-commerce is no longer enough to maintain the loyalty of younger audiences, as they demand personalization and easy and secure ways to complete transactions online. In addition, real-time interaction is becoming 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 customized platform would also allow viewers to purchase the item directly from the video, with just one click.

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