**The Ascent of Live Streaming as a Disruptor in eCommerce**
Worldwide entrepreneurs are constantly on the lookout for the next revolutionary trend or technology that can transform industry landscapes. Within the expansive realm of eCommerce, live streaming—an innovation we know well—seems set to emerge as the next significant disruptor. Already a major player in the East, live streaming showcased its potential during Alibaba’s 2020 Singles Day, where a 30-minute Taobao Live session generated $7.5 billion. According to Grand View Research, the live commerce sector is presently valued at $128 billion.
**Utilizing Live Streaming in the Entertainment Industry**
Live streaming is widely embraced by online entertainment audiences. Platforms like Twitch and YouTube, along with social media networks, offer live options, often promoting these broadcasts to attract live audiences. Leading entertainment companies have transformed the standard idea of live streaming from mere passive viewing to creating immersive experiences. Notably, Condense Reality has produced 3D live-streamed events for the metaverse, collaborating with artists such as Lady Leshurr and the BBC.
This advanced technology provides a dynamic and interactive experience, evolving into two-way engagements. Even conventional online games, like the well-known slot game Sweet Bonanza, have been revamped into live game shows, allowing participants to make real-time predictions and earn rewards. The focus is on creating a more engaging and interactive experience.
**Possible Breakthrough in Western eCommerce**
Though mainstream Western markets have yet to fully adopt live streaming as a shopping medium, there is a growing expectation for its breakthrough. Canadian commerce startups, as reported by Beta Kit, are embedding live shopping into their marketing plans.
The success of these initiatives relies on providing real value to live-stream audiences. While offering an immersive and interactive experience is critical, incorporating appealing incentives is essential. Live shopping events can be enhanced with expert input, live demonstrations, exclusive limited-time products, and surprise discount codes.
The idea of live shopping has already been affirmed in various major markets. A visionary entrepreneur in Western markets has the opportunity to unlock its potential and establish it as a major online shopping method.