Over the past 40 years, networks such as HSN and QVC have made live commerce a familiar concept: presenters gushing over the features and hard-to-beat prices of goods on live TV for consumers to buy.
However, live e-commerce is still a nascent enterprise in the United States, in particular, especially when you compare any efforts in the space to the powerhouse industry that’s been created in China.
Live e-commerce in the U.S. is expected to reach $35 billion in sales by 2024—not bad until that number is stacked against China, which is on track to hit $423 billion by this year alone.
Analysts project that live commerce could account for as much as 20% of all e-commerce in the next four years—and Sam Jones is aiming to replicate China’s runaway success in the West with his company OOOOO.
Founded in 2020, OOOOO, pronounced like an expression of excitement or wonder, is running a full-court press on digital live commerce.
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Source : fastcompany.com
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