Key insights from VTEX’s latest survey on live shopping reveal a growing popularity, yet a significant gap in consumer awareness regarding when and where these events are taking place.

NEW YORK--(BUSINESS WIRE)--Sep. 17, 2024-- VTEX (NYSE: VTEX), the composable and complete commerce platform for premier B2C and B2B brands and retailers, released new research on live shopping and the consumer experience. According to the survey findings, of 1,000 U.S. consumers 18 years old and older, 45% of consumers have browsed or purchased from live shopping events in the past year indicating a strong and growing interest in this shopping format.

As brands and retailers continue to explore the best ways to engage with today’s consumers, the survey findings underscore the growing trend and need for brands to adapt and incorporate more live shopping and video commerce capabilities into their sales strategies.

Key findings from the survey critical for brands and retailers:

Video commerce and live shopping events are rising in popularity

• Nearly half (45%) of respondents said they have participated in a live shopping event hosted on marketplaces like Poshmark or Amazon in the last year.
• More consumers (61%) said they have browsed or shopped on Social Video Commerce channels like Facebook Live, TikTok Shop, YouTube, or Instagram Reels in the last year.

Taking a look at generational differences, GenZ is the largest demographic shopping video content on social platforms with 83% - while millennials are the largest group (58%) participating in live shopping. With critical buying groups and regularly targeted demographic groups showing usage of these channels, brands should ask themselves if they are focusing enough in this area and if they could be doing more.

In a battle of the sexes, an unexpected leader in live shopping emerges

• Interestingly, when it came to who engages with and buys via video, men came out on top in every category of potential video engagement - with 48% of men saying they’ve engaged in live shopping compared to 42% of women.
• 31% of men find discovering new products to be the most valuable aspect of shopping through this channel, and 20% said they would participate in live shopping events hosted by brands on a daily basis if they were consistently available.

For brands with a predominantly male buying audience, live shopping is a strategic opportunity to drive consistent engagement opportunities and product visibility with consumers. Tech and electronics brands, in particular, should adapt their strategies to tap into this highly engaged and potentially lucrative demographic, which is emerging as an untapped powerhouse in live commerce.

Frequent participation shows the importance of social commerce events

• Across all demographics and genders, 66% shop on social platforms like Facebook, TikTok Shop, and Instagram Reels at least once a month with 32% doing so multiple times a week.
• The frequency of live shopping is lower (12% monthly and 11% multiple times a week),55% said they would shop on all forms of video and live commerce if it was more consistently available. Underscoring the importance for brands to prioritize and do more within these shopping capabilities and channels.

Brands need to increase awareness of these events

• 38% said they aren’t even sure if brands they like and buy from offer video commerce or live shopping.

Brands leveraging these strategies need to assess how effectively they’re marketing these events. With a quarter of consumers lacking awareness, this highlights a significant gap and a clear opportunity to educate and engage potential participants.

“Through our partnerships with enterprise B2C and B2B brands and retailers—who stand to gain significantly by offering more invite-only or personal shopper experiences—we’ve seen firsthand how lucrative live shopping and video commerce can be. These strategies not only boost awareness of new product launches but also highlight special opportunities and promotions,” said Dani Jurado, Executive Vice President of North America at VTEX. “The findings from this survey highlight that U.S. consumers are ready and engaged with live shopping. Interestingly, our experiences with B2B corporate buyers closely align with these consumer trends, indicating a broader opportunity for brands in both sectors to capitalize on this opportunity.”

As brands look toward their end-of-year holiday and 2025 sales strategies, these channels are a great opportunity for future success and growth. “For brands nervous about jumping into the live shopping space, consistency is key. As the data showed, more than half would shop through these channels if it was available more consistently. Don’t focus on becoming an overnight, viral success with one event. Focus on consistently delivering a technically seamless and engaging experience for your consumers, and the rest will follow,” added Santiago Naranjo, CRO, VTEX.

Live shopping and personalized experiences, like live personal shopping, are part of a rising trend where consumers and corporate buyers seek more direct connections with the brands they purchase from—a trend VTEX calls 'concierge commerce.' To explore this trend further and discover how to seamlessly integrate video commerce and live shopping into your buyer's journey, visit here.

Survey Methodology:

This online survey was commissioned by VTEX and fielded by Dynata, a global market research firm, from August, 2024. The survey leverages a consumer mix of 1,000 adult panelists in the United States with demo breaks to ensure consistency and close to national representation for Gender, Age, & Region.

About VTEX

VTEX (NYSE: VTEX) is the composable and complete commerce platform that delivers more efficiency and less maintenance to organizations seeking to make smarter IT investments and modernize their tech stack. Through our pragmatic composability approach, we empower brands, distributors, and retailers with unparalleled flexibility and comprehensive solutions, enabling them to invest solely in what provides a clear business advantage and boosts profitability. VTEX is trusted by 2,600 global B2C and B2B customers, including Carrefour, Colgate, Motorola, Sony, Stanley Black & Decker, and Whirlpool, having 3,500 active online stores across 43 countries (as of FY ended on December 31, 2023). For more information, visit www.vtex.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240917402702/en/

Kate Adams
PAN Communications for VTEX
VTEX@pancomm.com

Source: VTEX