Will you purchase Walmart products through livestreaming events?
$Walmart (WMT.US)$ looks to grab consumers' attention with star-studded online shopping events. Over the past year, the retail giant has tested the shoppable events on different social media platforms. It hosted its first livestream last December, when it had a holiday shop-along. It enlisted influencers to host a spring beauty event on TikTok. It featured celebrity chef Ree Drummond to talk about her Pioneer Woman line of cookware and more on Facebook. In total, it has had 15 events so far.
Walmart is adding another tool to its arsenal this holiday season to drum up online sales: More than 30 livestreaming events, including one with musician Jason Derulo that kicks off Cyber Week.
For Walmart, the strategy could help drive e-commerce sales. The retailer's digital sales accelerated during the pandemic, but that growth rate has slowed significantly as more shoppers have returned to stores. E-commerce sales in the U.S. grew 79% in the fiscal year ended Jan. 31.
Livestream is still a new business model in USA. The livestreaming market was worth about $6 billion last year, according to consumer market research group Coresight Research. It expects the market could eclipse $25 billion by 2023. Its U.S. e-commerce growth is large and it is competing for sales with digital behemoth Amazon.
Do you think the livestream strategy could help Walmart to drive e-commerce sales?
Will you take part in online shopping events?
Source: CNBC
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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PlsLetMeEarnMoney : if you haven't learn anything from Kim Kardashian's crypto pump and dump, you are dumb.
Elsewedy : thanks for sharing
Winner01 : good
Mr Los : Thanks
CrazyGypsy08 PlsLetMeEarnMoney : apparently im dumb. lol but in all seriousness i havent heard about this can you explain what she did?
30470770 : It depends How fast Walmart can deliver the goods? Can it compete logistics speed in China?
iSpyderTrader : This fairly a new concept and Walmart is in the front line. I did not participate previously and will not this time around either. However, I don't know why Amazon has not picked up this concept being full e-commerce vendor. But someone has to set a trend. this year many stores are keeping their doors closed for Thanksgiving Day, which is a blessing. I personally Thank those stores for stepping up and doing such a thing. Now coming back to Walmart, as it will follow the same but still wants to make money will implement this concept so they can attract as many consumers as they possibly can. But if many people boycott then it will be good, which I doubt that will happen. This is my feeling and again I will not participate.
Wishing you and your family Happy Thanksgiving. Stay safe.
71780680 : no