In the next three years, the European live streaming market is expected to reach 100 billion RMB

Entertainment shopping and live shopping have been a huge success on European e-commerce platforms. Analysts say that this sales model has attracted the attention of a large number of European consumers and has become a breakthrough in the development of a new model for European e-commerce platforms.

Forrester and AliExpress   According to the survey data released last Thursday, 70% of 14,460 consumers from the UK, Spain, France and Poland expressed great interest in online shopping.

Entertainment shopping in Asia started with displaying products in the form of pictures and short videos, and then combined with in-app games, live streaming and 3D shopping to increase consumer engagement and create an immersive and personalized shopping experience for consumers through digital technology innovation.

During the epidemic, entertainment shopping and live shopping have gained attention in the European e-commerce market. As offline stores cannot operate, 31% of respondents said that their online shopping has increased significantly. Among them, almost half of online shoppers said that they continued to pay attention to entertainment shopping and live shopping during the epidemic, believing that "this model is more helpful for consumers to understand the product."

Forrester senior analyst said that as the new e-commerce sales model develops in an interactive direction, if the platform can provide consumers with trustworthy and entertaining content, then the platform will be able to maintain its leading position in the e-commerce market.

According to the e-commerce platform report released by Forrester last year, the e-commerce live streaming market is expected to reach 100 billion yuan by 2023. Forrester also said that considering the rapid development of European e-commerce platforms due to the COVID-19 pandemic, this estimate is still conservative.

The main consumers of live shopping in Europe are relatively mature, with ages ranging from 32 to 43. At the same time, European consumers like to watch live videos of less than 10 minutes, saying that "it is easier to obtain key product information and enable efficient transactions."

The most popular products in live shopping in Europe mainly include electronic products, fashion, beauty and personal care products, daily necessities, etc.

Analysts say that European live streaming e-commerce platforms are full of opportunities, but it is important to understand the differences in each country in order to provide the right information to consumers in different countries.

Cross-border e-commerce market

European Market