BuzzFeed is the latest media company to start experimenting with livestream shopping (aka the new, digital version of QVC) as the next big opportunity to maximize its ecommerce business.
During the pandemic, online shopping boomed as stores closed and consumers were stuck at home, and publishers dove head first into developing their affiliate ecommerce strategies and building online shopping hubs — BuzzFeed included. But after watching retailers in China find success with livestream shopping, and identifying other players in the space, like NTWRK, which have gotten younger consumers to come around to the idea of appointment shopping, media companies are realizing there is more money to be made in online retail.
BuzzFeed now finds itself in an opportunistic position in the livestream space, thanks to its ability to combine its affiliate commerce business, its product licensing business and its video production studio business to create hours-long programming that highlights shoppable products to its audience.
“QVC and HSN are like two of the largest platforms that have been doing live shopping for decades so we definitely know the [livestream shopping] behavior exists [in the U.S.],” said Nilla Ali, BuzzFeed’s svp of commerce, “but what we’re super keen on cracking is how do we unlock that same behavior for a new generation.”
Since the beginning of the year, BuzzFeed has put on more than 50 livestreams on Amazon Live (the online marketplace’s…