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28 January 2022
M&S jumps on livestreaming trend
E-commerce & mobile retailDepartment storesLivestreaming
Marks & Spencer (M&S) has launched a live-shopping service through its website, with weekly broadcasts hosted by its own experts and relevant influencers.
The first (at lunchtime on Friday 28 January) focused on the retailer’s Goodmove activewear brand and featured a health coach alongside the M&S head of lingerie design, Drapers reported.
Why it matters
A shift to social commerce, accelerated by the pandemic, is being driven largely by younger consumers – and Gen Z is an important demographic for many retailers, not least M&S which has an older customer profile.
Livestreaming commerce has taken off across Asia and platforms in the west are now testing similar features with a view to replicating an interactive experience that goes beyond simply ‘shopping’.
Bazaarvoice notes that TikTok alone saw a 553% increase in shopping during this period, and adds that 43% of Gen Z used social media to purchase products in 2021.
Management consultancy McKinsey estimates that live shopping will account for between 10% and 20% of global ecommerce spending by 2026.
“This strategy will not only enable the retailer to be more relevant to younger shoppers, but will also put them in a greater position to drive traffic to both their website and social media pages, as well as inspire a new cohort of consumers to start shopping. It’s only a matter of time before we see other retailers following suit” – Ed Hill, SVP EMEA at Bazaarvoice.
Sourced from Drapers, Bazaarvoice [Image: Marks & Spencer]