In May, Facebook debuted its newest shopping option with the launch of Live Shopping Fridays, a three-month-long, weekly livestream shopping event featuring major brands across beauty, skincare and apparel.
What Is Facebook Live Shopping?
Combining the rising popularity of shoppable live videos with the continued ecommerce boom of the past year, Facebook Live Shopping features an array of beauty, skincare and apparel brands looking to promote their products through shoppable livestreams. Each participating brand will air its Live Shopping stream on its respective Facebook profile. Consumers can also discover the latest shoppable livestreams through Facebook’s “Shop” tab.
During each Facebook shoppable livestream, consumers can speak with brand representatives, ask questions about product details, learn about the latest tips and trends and more, all in real time and all without having to leave the brands’ livestreams. Purchases can be made directly within the Facebook app, creating a streamlined and convenient shopping experience for both brands and consumers. Facebook Live Shopping will continue through July 16, with top brands like Abercrombie & Fitch, Clinique and Sephora already signed up to participate.
Why Did Facebook Launch Facebook Live Shopping?
With its launch of Facebook Live Shopping, Facebook is capitalizing on the recent rise of livestream shopping. According to Business Insider reporter Mary Hanbury, “Experts say livestream shopping is on the cusp of becoming one of the most powerful trends in U.S. retail.” Similar research from Coresight predicts “the U.S. livestreaming market will grow to $11 billion by the end of 2021, and $25 billion by 2023.”
Shoppable livestream videos increase brand awareness and engagement to drive traffic and revenue. Shoppable videos also provide brands with additional consumer insights, with Facebook Live Shopping specifically giving participating brands access to basic customer information, like email and phone number, when consumers opt in and complete their purchases.
How Can Facebook Live Shopping Benefit Brands & Retailers?
Social channels continue to innovate in response to growing ecommerce sales trends and consumer desire for product discovery and increased ease of shopping online. Yulie Kwon Kim, product leader for Facebook App Commerce, shared that “almost three-quarters of consumers globally are getting shopping ideas through Facebook, Instagram, Messenger and WhatsApp, and almost two-thirds agree that social media has now become as important as other information sources when making purchase decisions.”
For retail brands, the vast consumer reach and valuable insights that come with an option like Facebook Live Shopping are worth testing, especially as consumers continue to gravitate toward streamlined and convenient online shopping channels. Meeting consumers where they are will be vital for brands moving forward in a digital world.
“In retail, we just don’t have good data,” said Leila Kashani, Alleyoop cosmetics CEO, a participating brand in Facebook Live Shopping. “You don’t see who bought the product, who stood there and tested it. We only see sales. So any data Facebook gives us in this experience is more valuable than what we would get in a retail setting.”
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