Retailers Embrace Livestreaming, Market Expected To Reach $11 Billion In 2021
Retailers and brands continue to jump on the livestreaming bandwagon, a multi-billion market that is expected to skyrocket in the U.S.
Nordstrom, Macy’s and Avon are among the latest players embracing livestreaming, where consumers can shop real-time while watching live videos. Bluemercury, after seeing tremendous success from its ecommerce business over the past year, is also looking to add livestreaming in 2021.
And the momentum is just beginning. pg slot
The U.S. livestreaming market is expected to reach $11 billion by the end of 2021 and hit $25 billion by 2023, according to Coresight Research, a global advisory and research firm. The U.S. is playing catchup to China, where its livestreaming market tracked $150 billion in 2020 and will reach $300 billion in 2021, says Coresight.
“The U.S. is seeing a surge in livestreaming,” says Erin Schmidt, senior analyst at Coresight Research. “We expect more brands and retailers to move very quickly on the livestreaming trend.”
