THE IMPORTANCE OF CREATIVE COMMERCE AND RETAIL ENTERTAINMENT

Person using VR headset

People no longer ‘go shopping’ and the traditional purchase funnel has been irrevocably disrupted. Every interaction is an opportunity to guide a consumer towards a sale but equally they are looking to be engaged and entertained along the way. As we have seen in China, Live Streaming is a lucrative endeavor. McKinsey reports the value of China’s live-commerce market grew at a compound annual growth rate of more than 280 percent between 2017 and 2020, to reach an estimated $171 billion in 2020. Sales there are anticipated to reach $423 billion by 2022. The US figures are quite lower- showing the live-commerce industry is expected to exceed $50 billion in annual U.S. sales by 2023, according to eMarketer.