Given the state of the economy today
Amazon is making a concerted effort to expand its business, and the company has opened a new sector in the Western hemisphere: live shopping.
Jeff Bezos founded Amazon to revitalize online sales with a new structure that stimulates consumption, a formula that has worked in Asia but has struggled to take off in the West.
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Amazon Life, a platform launched in 2019, is seeking money, according to the Financial Times.
The budget for this area, which is crucial to the development of e-commerce, will be greatly increased this year. “Live shopping is the future of retail,” says Amazon Life manager Wayne Purboo, vice president of advertising.
Twitch’s dominance in live broadcasting allows a unique customer experience that merges live streaming and live shopping for competing products. When streamers draw in a huge audience to watch live video during a promotional event, those viewers are more likely to make a purchase during the event. TikTok, Instagram, YouTube, and Facebook are all building live stream apps, so it’ll be a battle to control future e-commerce. business with amazon
When it comes to streaming in Asia, one of the most well-known personalities is
Someone made $49.7 million in one day streaming on Alibaba’s Taobao Live platform in 2019.
estimates that one-third of Chinese internet users engaged in “live stream shopping” in 2020, when the real hatching occurred. That’s people in one country who have shopped at one establishment.
The consultancy group predicts that this sector will make up 10% – 20% of global e-commerce by the end of the forecast period. With that in mind, let’s circle back to Amazon and its intentions to completely dominate this emerging sector.
It’s already making moves, with four planned events to bring in influential people to this platform.
Most noteworthy was its June gathering, where it flew a group of “tiktokers,” “instagrammers,” and “youtubers” to a $600 per night luxury resort in the Mexican town of Todos Santos for a retreat.
Amazon Prime is using this to “recruit” influencers.
Amazon is paying American creators a lot to promote one of its greatest bets. CNBC reports that for sales of high-end cosmetics and accessories, the corporation will give them a cut of approximately 10%, while for sales of video games, that cut rises to 20%. Core sight Research anticipated that Live Stream would account for 2.2% of U.S. e-commerce in 2022, 3.2% in 2023, and 5.2% in 2026.
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One thing is for sure, Amazon is not alone:
TikTok, Instagram, YouTube, and Facebook are all building live stream apps, so it’ll be a battle to control future e-commerce. Amazon is accelerating now because it believes it can dominate the next major internet company thanks to synergies with Twitch, its own e-commerce infrastructure, and a sound financial wager.