Livestreaming eCommerce has taken over the internet and is becoming the main form of promotion and selling for many brands. Livestreaming in Brazil became important for almost every area, from gaming to sports, and it is expected to keep growing.
So, what is livestreaming?
Livestreaming is a real-time broadcast of a video. It differs from normal video content because it is not pre-recorded and, therefore, there is practically no edition.
Livestreaming numbers worldwide
A report by Grand View Research shows that the video streaming market is expected to reach USD 223.98 billion by 2028. The growth between 2021 and 2028 will be around 28%.
If we consider the report by Valuates Reports that state that the live video streaming market is expected to reach $149.34 billion by 2026, we have a clear idea of how big the sector is expected to be.
This affects all major sectors of entertainment. During the pandemic, online livestreaming concerts were one of the biggest forms of entertainment for millions of people stuck at home.
In 2019, livestreaming of the American music festival Coachella was the event with the highest live viewership, with 82.9 million live views.
In 2020, Travis Scott’s virtual concert with Fortnite broke attendee records of 12 million views. Global superstars group BTS also joined the online concerts, drawing more than 700k people and making $20 million in a single online performance.
This is also boosting a different market on its way to being massive: the livestreaming eCommerce.
Livestreaming eCommerce is the new big thing for brands. This is the combination of three distinct factors:
- The growth of TikTok around the world;
- The rise of the influencers;
- The brand’s need to differentiate from others.
China is already ahead on livestreaming eCommerce, but studies show that the biggest markets for this type of content are India and Brazil.
Internet users from these countries frequently watch livestreams of influencers and are also more likely to buy products that they see on the influencers they follow.
In China, Livestreaming eCommerce is already common. Forbes estimates that the industry will earn around $60 billion annually. In 2019, around 37% of all online shopping was made during or because of livestreaming eCommerce. In 2020, Taobao’s annual Single-Day Global Shopping Festival accounted for $6 billion in sales thanks to livestreaming eCommerce.
These numbers are huge for every brand, and livestreaming eCommerce is migrating to other countries.
Social Media on Livestreaming eCommerce
Companies are already changing their interfaces in order to integrate eCommerce into their platforms.
Instagram and Facebook already added a “Shop” feature that allows users to search and buy products directly from the platform.
Amazon has launched a live platform where influencers can promote items and chat with potential customers.
TikTok and Walmart established a partnership on an event with 10 influencers presenting products in December 2020.
eCommerce in Brazil
In Brazil, eCommerce is one of the fastest-growing business industries. According to Statista’s forecast, it is expected that the total eCommerce revenue doubles its value within 8 years. This is a result of the fast growth of internet usage. It is expected that in 4 years, 158 million people have access to the internet in Brazil, with more than 90% of them having access to a social media account.
In Brazil, working alongside influencers is the key to successful livestreaming eCommerce. The top Brazilian influencers can reach millions of people daily on their social media platforms. If the communication and marketing strategy is implemented correctly, the results may be a huge boost in sales, or, at least, the organic growth of the brand image and recognition.
From small local brands to big multinational companies, Brazilian influencers are highly requested to drive awareness for brands and products while boosting eCommerce sales.
Bold Creators Club connects you with the best Brazilian influencers for livestream eCommerce
With the boom on livestreaming eCommerce, companies will rush to work with the best influencers in the country, in order to maximize their profits, but this can be a mistake.
Working alongside influencers is not as simple as it seems. There are a lot of linguistic, cultural and social barriers that brands face when trying to penetrate the Brazilian market, and this takes time and a lot of work to overcome.
The country offers many opportunities, but having a clear Brazilian influencers’ marketing strategy is one step closer to success for every brand that is willing to work hard.
Partnering with an agency may be the solution, as the low prices of Brazilian influencers are an asset to any marketing campaign.
At Bold Creators Club, we work closely with brands and the best Brazilian influencers on the market so that we can help you achieve your goals.
Want to know more about how we can help your brand to grow?
Schedule a meeting with us and let’s talk!