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CommentSold partners with TikTok

Friday 18 August 2023 10:10 CET | News

CommentSold, a fashion live-selling technology company, has partnered with TikTok Shop to enable a live-selling integration in the US.

With this partnership, merchants that use CommentSold are allowed to host live shopping events on TikTok from the CommentSold platform. The whole live-show production, commerce, as well as communication management will be integrated with TikTok Shop.

In the US alone, the live shopping market is projected to reach USD 57 billion by 2025. This estimate is expected to grow increasingly as Millennial and Gen-Z shoppers continue to lead the way. In order to adapt to this ever-changing consumer shopping behaviour, it may be important for retailers as well as brands to meet their clients where they are.

Moreover, TikTok has now become a destination for a growing community of over 1 billion users around the world. Recent research showed that about 48% of TikTok users are interested in making a purchase on or from TikTok within the next three months, while half of TikTok users stated that they have purchased something after watching TikTok LIVE. The LIVE Shopping feature allows brands and other merchants the ability to connect first-hand with their customers and community in real-time and simultaneously showcase their products, possibly increasing their sales.

For CommentSold merchants, this collaboration will be able to present a new opportunity for connecting with a generation of shoppers on TikTok. According to the company, this partnership has resulted in a positive experience for top CommentSold performers. Live shopping events and shoppable videos on TikTok are growing at an average of 25% week-over-week on a GMV basis with 57% of all first-time shoppers coming directly from TikTok. By leveraging TikTok’s capabilities of understanding the behaviours and expectations of its audience, CommentSold has aimed to help merchants adapt live-selling techniques for a new wave of live shopping fans on TikTok. 

CommentSold, a fashion live-selling technology company, has partnered with TikTok Shop to enable a live-selling integration in the US.

More about CommentSold 

Based in North America, CommentSold works with live-selling technology, enabling over 4,000 small to mid-sized retailers with live-selling tools. CommentSold has generated over 163 million items sold with over USD 3.7 billion in lifetime GMV. The company’s technology aims to provide retailers with efficient solutions for delivering live video commerce experiences across all of their sales channels simultaneously. Latest updates from the company include its multi-host and multi-camera live-selling interface that allows for a more interactive live-selling session. 

How live commerce is reshaping the shopping experience 

Live commerce combines instant purchasing of a product along with audience participation via a chat function or reaction buttons. According to a McKinsey article, live commerce can help brands, retailers, and marketplaces primarily in two areas: accelerating conversion and improving brand appeal and differentiation.

Accelerating conversion: a competitive edge of live commerce is that it is entertaining and immersive, which keeps the viewers watching longer. It also encompasses customer decision journeys all the way from awareness to purchase. Moreover, time-limited tactics such as one-off coupons can be used by merchants to generate a sense of urgency among the viewers. Companies report conversion rates of about 30%, almost ten times higher than in traditional ecommerce ways.


Improving brand appeal and differentiation: if done well, live commerce can increase a brand’s appeal and distinctiveness, which pulls in additional web traffic. It can strengthen the brand’s positioning among existing customers as well as attract new ones, especially young people who are interested in new formats and experiences of shopping. Some companies report that they are seeing their share of younger audiences increase by up to 20%, with a live-selling commerce feature.


Source: Link


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Keywords: ecommerce, retail, livestream shopping, social commerce, online platform
Categories: Payments & Commerce
Companies: CommentSold, TikTok
Countries: United States
This article is part of category

Payments & Commerce

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CommentSold

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