See It Live and Buy It Instantly, The Rise of New Commerce and Shoppertainment
With all the live-streaming sales which has started recently where everyone would prefer to purchase something from other country and sell it via live-streaming here is becoming the rise of the new Commerce and Shopping experience, as more and more people are looking forwards for these easier to understand platform where it can provide information and easier to understand on the product.
As a German research firm mentioned that Bangladesh’s e-commerce markets now stands at $1.6 billion currently and will double to $3 billion by 2023 with the digital foundation laid down by the government and young tech-savvy population. Plus the online fashion market in Bangladesh is currently worth $598 million, and it has a prospect to grew up till $1.24 billion by 2023.
Globally, even the online retailers is livestreaming in China as Pinduoduo are using it to break into the $200 billion market for impulse and everyday purchase. As the China Internet reports predicted that China’s livestreaming market will reach 613 million user in 2020 which make these live commerce big business now in China, just by an example of Viya, who she is an internet celebrity in China who sells via live-streaming in Taobao, in 2019 alone, she has sold $2.8 billion worth of goods that is $5,000 per minute sales.
However, with all this new live-streaming is very popular among online buyers, there aren’t any e-commerce or social commerce platform in Bangladesh which has not given focus on this new concept and as there are some problems which you can find on live-streaming commerce which is
- bullying from viewer by asking too much question
- viewercan’t take the screenshots in real time and there is where the 20% sales are lost
- on each session, 100-150 viewer can place order but after the end of the live show, the merchant need to check and match all orders and if the stock is not available it can be bad for their brand
- there are no formal order management system on Facebook live and sometimes merchant can missed out order or sent out wrong products to customer
- viewer can place order in live comment which might be ignored by the merchant and again order management issue