Coresight Research’s live shopping event is back for the holidays.
This year’s event, once again dubbed the 10.10 Shopping Festival, features an assortment of retailers across the apparel, beauty, accessories, tech and homeware sectors, including Macy’s, Guess, Vera Bradley, and Neighborhood Goods, all hoping the event will inspire U.S. shoppers to shop for goods live during the holidays.
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“Direct buying has gone from zero to $ 300 billion in China in a very short period of time,” Deborah Weinswig, founder and CEO of Coresight Research, said in a statement. “We are very confident that the US market will achieve what we are seeing in China, [even though] Adoption by retailers and consumers in the United States has been slow.
A March 2021 Coresight Research survey found that only 31.5% of U.S. consumers watched a live event that can be purchased. But Weinswig added that his company forecasts that the use of live ecommerce in the United States will more than triple by 2023, compared to 2020 levels.
For the second annual 10.10 Shopping Festival, which takes place on October 10 from 10 a.m. to 10 p.m. ET, the research firm has partnered with the live shopping platforms Smartzer and CommentSold, as well as the sales platform. retail Ghost Retail.
“We are extremely excited to be a part of the 10.10 event, allowing brands and retailers to access Smartzer’s live shopping technology,” said Karoline Gross, Founder and CEO of Smartzer. “We’re very interested to see how different brands and retailers in the United States will approach shoppable live content throughout the event, following the format’s tremendous success in China, where nearly 15% of all sales online now come from direct shopping. Results of direct purchases in other markets are already showing engagement rates of up to 75%, which strongly suggests that this format will become the heart of e-commerce. ”
This year’s lineup will include an additional assortment of beauty and cosmetics brands, including independent start-ups such as Organic Apoteke, Auda B., Skin Authority, Shielded Beauty, 100% Pure, Yensa Beauty, hair care brand T3, DefineMe Fragrances and online beauty sales platform Beauty Barrage. Jewelry and accessories brands Adina’s Jewels and Astouri will also participate, along with clothing brands and food and household product names such as Fifth and Cherry, Longaberger and Organic Candy Factory.
Lisa Mason of QVC and Home Shopping Network, and Sarah Williams, host of Amazon Prime, CBS, E Network and Yahoo Productions, will host the event.
Additionally, retailers have pledged at least 5% of event sales to charities such as the American Heart Association, National Breast Cancer Foundation, St. Jude’s Children’s Research Hospital, and more.
Meanwhile, despite the recent increase in the Delta variant in the country and headwinds in the overseas supply chain, retailers remain optimistic for the next buying season. Mastercard recently published a report, US retail sales are expected to jump 7.4%, excluding auto and gas revenues, in the all-important fourth quarter, from 2020 levels. These numbers include gains in clothing categories, jewelry and luxury goods, as well as in online shopping.
Retailers including Kohl’s, Walmart, Target and Lululemon, prepare by hiring additional staff.