Ideal is a China-based brick-and-mortar jewelry retailer. In Q1 2020, in response to COVID-19 closing its stores, it launched the Thousand People, Thousand Stores initiative: a program to turn in-store sales associates into livestream show hosts. The jeweler partnered with a livestreaming agency and influencer to train staff, and launched a more affordable line to appeal to younger consumers online. Commissions for staff were also boosted from 3% in-store to between 10-50% online, to encourage participation and sales.    

Few sectors are safe from the fallout of the pandemic, but entrepreneurs around the world are following China’s lead by embracing livestreaming as a retail channel. It is accessible yet ephemeral, communal yet personal, and voyeuristic yet participatory. And it taps into one widely reported impact of the lockdowns, a boom in video-based socializing. In the US for example, 66% of consumers expect their social media consumption to increase during confinement. SHOPSTREAMING is the perfect fusion of retail and entertainment for quarantined, mobile-welding, video-hungry shoppers.  

Currently, consumers are essentially banned from shopping in-person. On top of that, many are unable to afford non-essential items and/or are delaying large purchases as they face a global recession. How can you boost the financial and experiential accessibility of your offering? Now is the time to reimagine your business for the digital world!   

Stay healthy,

The TrendWatching content team

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