Let's Talk Shopping Live: The Booming U.S. Market for Beauty Brands
Ulta Beauty intensifies its livestream shopping strategy through a fresh collaboration
Here's what's cooking in the world of beauty and live shopping! Recently, Buywith partnered with Ulta Beauty, enabling brand partners to host interactive live shopping experiences on Ulta's website. It Cosmetics kickstarted the trend with live events on June 29, and it seems like a winning strategy for brands to engage with Ulta's customers, boosting product discovery and reach.
Live shopping isn't a new concept, having graced our screens for years with shows like QVC and HSN. With the rise of social media and live video capabilities, livestream shopping has enjoyed a resurgence in popularity. During the pandemic, folks got even cozier with live shopping, and it looks like retailers are still experimenting with this fun and engaging format.
So, why all the fuss about live shopping? Here's Agustina Sartori, Senior Director of Digital Innovation at Ulta Beauty, spilling the tea: "Live shopping is an exciting way to connect with beauty enthusiasts on a meaningful level." And guess what? It works! According to a report by Coresight Research and Bambuser, the U.S. livestream shopping market is projected to hit a whopping $31.7 billion by the end of the year!
Now, let's get down to the nitty-gritty. Retailers typically turn to platforms like YouTube, Instagram, Amazon, and their own sites for livestream shopping. Last year, Walmart even expanded its partnership with Talkshoplive, featuring eight new livestream events.
Buywith has been cozying up to other retailers such as Saks Fifth Avenue, H&M, and Forever 21, offering a nifty dashboard brimming with stats such as the top items added to carts, real-time viewers, and average time spent per user. Pretty neat, huh?
Want to know a little secret? Ulta has been hosting its own livestream shopping events before its partnership with Buywith. For example, there was an event on "Gifts at Every Price Point" with Amy Chang, and "Holiday Travel Must-Haves" featuring the founder of Rizos Curls, Julissa Prado.
Mark your calendars! Ulta's got another livestream shopping event on July 26 with Too Faced. This one's hosted by Too Faced Field Executive Melissa Yvette, and it's all about lip and eyelash products from the brand.
Now, the burning question—what does the future hold for live shopping in the U.S. beauty scene? The growth of social commerce, enhanced engagement, technological advancements, and market trends are all painting a promising picture. The U.S. livestream shopping market for beauty brands is on an upward trajectory, so keep your eyes peeled for more exciting collaborations and live events!
[1] "Global Retail eCommerce Sales to Top $4.9 Trillion in 2021," Statista, [https://www.statista.com/news/2021/06/30/retail-ecommerce-to-top-4-9-trillion-2021/] accessed July 5, 2022[5] "Worldwide Retail E-commerce Sales Will Reach $5.4 Trillion in 2022," eMarketer, [https://www.emarketer.com/content/worldwide-retail-ecommerce-sales-will-reach-54-trillion-2022] accessed July 5, 2022
- With the rise in popularity of live shopping, Traditional TV networks, like QVC and HSN, face breaking weather in their long-held market dominance.
- The pandemic pandemic has pushed the fashion industry to adopt new technology, such as live shopping, to cater to consumers' changing lifestyle.
- The research by Coresight Research and Bambuser predicts that the trade of beauty products through live shopping in the U.S. will reach an astonishing $31.7 billion by the end of the year.
- The financial sector is closely monitoring the growth of live shopping in the retail industry, as global retail e-commerce sales are projected to surpass $4.9 trillion in 2021 and $5.4 trillion in 2022.
- AI and technology have played a pivotal role in the success of platforms like Buywith, which offers retailers valuable insights through their nifty dashboards.
- The policy-makers in space, or rather, the regulatory bodies, are closely watching the evolving landscape of live shopping, as fashion-and-beauty brands partner with retail giants like Ulta Beauty and Saks Fifth Avenue.
- The retail sector, including fashion, technology, and finance, is optimistic about the future of live shopping, with the growth of social commerce, enhanced consumer engagement, and emerging trends painting a bright picture.
- As live shopping continues to break barriers in the beauty industry, consumers can expect more exciting collaborations and events, like the one on July 26 between Ulta Beauty and Too Faced, promising a share of the lip and eyelash love.
