![]() Penetration is defined as gross merchandise value (GMV) of livestreaming divided by total e-commerce GMV. McKinsey analysis based on numbers from iResearch. Live commerce has evolved rapidly in China, taking less than five years to develop into an innovative sales channel with an estimated penetration of 10 percent. Some companies are seeing their share of younger audiences increase by up to 20 percent. It can strengthen positioning among existing customers and attract new ones, especially young people keen on innovative shopping formats and experiences. Done well, live commerce increases a brand’s appeal and distinctiveness and pulls in additional web traffic. Please email us at: brand appeal and differentiation. If you would like information about this content we will be happy to work with you. We strive to provide individuals with disabilities equal access to our website. Companies report conversion rates approaching 30 percent-up to ten times higher than in conventional e-commerce. Time-limited tactics such as one-off coupons can be used to generate a sense of urgency. It also telescopes customer decision journeys from awareness to purchase. Live commerce is entertaining and immersive, keeping viewers watching longer. Live commerce can help brands, retailers, and marketplaces primarily in two areas:Īccelerating conversion. If China’s experience is any guide, our analysis indicates that live-commerce-initiated sales could account for as much as 10 to 20 percent of all e-commerce by 2026. What is clear is that it holds enormous long-term potential for brands and e-commerce platforms alike. How exactly this new channel will develop remains to be seen. While retailers overall in the West are still behind China in the pursuit of live commerce, early movers are also starting to rack up significant sales. “Chinese consumers rally for Singles’ Day but plan to shun foreign brands, says AlixPartners survey,” AlixPartners, October 28, 2020,. In a 2020 survey, two-thirds of Chinese consumers said they had bought products via livestream in the past year. In China, live commerce has transformed the retail industry and established itself as a major sales channel in less than five years. Live commerce combines instant purchasing of a featured product and audience participation through a chat function or reaction buttons. This certainly isn't groundbreaking but it's a good little film about surviving and trying to get things changed.This article was a collective effort by Arun Arora, Daniel Glaser, Aimee Kim, Philipp Kluge, Sajal Kohli, and Natalya Sak, representing views from McKinsey Digital and the Consumer Packaged Goods, Marketing & Sales, and Retail practices. LIVING FOR 32 has a pure message to give and it does a nice job at that. I'm sure there were times where they were denied but that's not shown here. To play devil's advocate, the only time we see these shows are when they're able to buy guns without the proper I.D. The second half of the picture shines a light on the gun shows where it's rather easy to get your hands on a firearm and you really don't have to show much identification. I think the most entertaining and dramatic moments are the discussion of the actual shooting. We're with him when he talks about learning who the killer was and there's a pretty creepy sequence where Goddard watches one of the shooter's videos that he left behind. After being shot four times Goddard discusses how he kept on hearing more and more shots and just by the number he knew that many people were going to end up dying. Goddard starts off by going back to Virginia Tech and showing us where he was when the firing started and then he goes into chilling details about what he remembers from that day. The title refers to the thirty-two people who were killed at Virginia Tech that day and overall the film does a good job at showing the horrors of that day as well as what an uphill fight it's going to be to actually get a few of these laws on the book. Goddard would be shot four times but he would thankfully live and today he fights for stronger gun control laws to keep guns out of the hands of people with a history of mental issues. Living for 32 (2010) *** (out of 4) Good documentary taking a look at the life of Colin Goddard, one of the few survivors from the 2007 Virginia Tech shootings.
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