A personal touch in e-commerce: The lowdown on live selling according to CommentSold

10-Nov-2022 - Last updated on 10-Nov-2022 at 16:46 GMT

E-commerce took off in the US during the pandemic, but the beauty retail giant of China might be the next hot retail environment in the West.

Live selling, or showcasing and selling products through a livestream video, is a relatively small part of the US retail market, but Chief Product Officer at live selling partner CommentSold Andrew Chen told CosmeticsDesign there is significant growth potential.

Chen said McKinsey research projects live selling will grow from an $11 billion market to a $35 billion market between 2022 and 2024. But that estimate is dwarfed by the $480 billion live selling market in China, which is expected to continue growing.

With the growth of both e-commerce and social media engagement, Chen said live selling is well positioned to meet consumer demands in retail today.