Who Said Livestreaming E-commerce Was Only for China?
Popshop Live (We’re hiring!), a U.S. livestreaming marketplace that combines entertainment, social, and commerce, has been valued at $100 million after a Series A funding round this summer.
“Shop, Sell, Stream!”– the offer is clear. ????
“Entertainment is mobile-first, social is mobile-first, but e-commerce is in the Stone Age,” stated DanDan Li, PopShop Live founder, about the U.S. market.
In 2016, when it was the beginning of livestreaming in China, she firmly believed it would boom in the U.S. and created her own marketplace to answer the millennials and Gen Z demand for authentic communication with brands and sellers.
Directly inspired by Taobao Marketplace Live or Douyin (TikTok), PopShop Live offers a similar experience where the best of in-person shopping and e-commerce connect by offering: customer service, storytelling, and scalability, convenience on the other hand. Then add some social features for sellers to create a community and win their consumers’ loyalty.
???? How big is Popshop Live in the U.S.?
The number of users on the platform is unknown today. However, PopShop Live shared that nearly 80% of customers return to the platform.
Over the last 3 months, they reported a 500% increase in sellers.
The platform has 10 times higher viewer-to-customer conversion.
Popshop Live shows can gross upwards of $500,000.
A report estimates that the U.S. livestreaming market could reach $25 bn by 2023. In comparison, Taobao Live is already generating over $62bn in consumer spending in 2020.
Do you think livestreaming e-commerce can become as big as in China?
