Livestreamed retail has exploded over the past year. The livestream market is expected to grow from $5 billion in 2020 to reach $11 billion by the end of 2021, and is projected to more than double over the next two years, hitting $25 billion by 2023, according to Coresight Research. In China, where livestreamed shopping is well established, the numbers are even higher: livestreaming is estimated to have driven about $125 billion in sales in 2020, up from $63 billion in 2019, Coresight found. By 2022, consulting firm Frost & Sullivan estimates that over $400 billion of products will be sold via livestream channels in China.
Now, new leaders in the space are emerging as startups and legacy brands alike rush to unlock the rapidly expanding channel.