Stating that the retail industry reached 2023's figures three years earlier during the pandemic period, Murat Dikmen, one of the founding partners of Loggers and Partners, a YouTube-certified agency, stressed that the e-commerce trend of the future is live sales.
During the COVID-19 outbreak, e-commerce figures increased exponentially. Many consumers made purchases through e-commerce for the first time in their lives. Emphasizing that another trend that increased during the year is live sales, Dikmen revealed that the increase in online video views during the pandemic accelerated the transition to live sale applications in e-commerce. Within the application, which started in China and spread all over the world, users can participate in live broadcasts on online platforms, watch product promotions and make purchases at the same time. In addition, they can catch instant deals and discounts during online broadcasting.
According to the data of the research company Coresight, online sales of $60 billion throughout the world in 2019 were realized with live broadcast interaction. The figure is estimated to exceed $100 billion in 2020. The number is expected to increase exponentially in 2021 and the coming years. In China, which currently leads the field, the number of users who shop on live broadcast has reached 300 million. At the online shopping festival held in Turkey on July 1, 2020, a record $500 million worth of shopping was reached through live broadcasts.
Stating that live sales offer brands an innovative understanding of marketing, Dikmen said it provides important advantages to users as well as e-commerce sites and brands. “A study conducted in the U.S. reveals that a user looks at an average of six photos and three videos about the product before making an online purchase,” Dikmen continued. “Live sales increase the product promotion alternatives for brands while providing users with the opportunity to get detailed information about the products and to catch instant deals and discounts with a different experience. It is remarkable that Taobao Live, one of the largest platforms in China in this field, has grown by 150% in the last three years in a row, demonstrating the potential offered by this area.”
Turkey loves live sales
The key to selling during a live broadcast is the sense of immediate decision making that makes the consumer think there is an opportunity to escape. Pointing out that live broadcast sales have started to spread in Turkey, Dikmen said Turkey continues to be one of the most dynamic markets in Europe with its mobile penetration and growing e-commerce market, which makes it easier for the digital trends around the world to quickly become reality in Turkey. “As Loggers and Partners, we have implemented the live broadcast sales application, which is the trend of the future in e-commerce, for the first time in Turkey with n11.com,” he said. “In the project where we use different infrastructures, products are promoted live on n11.com's website and mobile application at the same time every Wednesday, and users can buy the products they like instantly with the special deals announced in these broadcasts.”
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