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How BuzzFeed taps its resources to grow an early foray into livestream shopping

Digiday 20 Jul 2021 04:01
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July 20, 2021 by Kayleigh Barber

BuzzFeed is the latest media company to start experimenting with livestream shopping (aka the new, digital version of QVC) as the next big opportunity to maximize its ecommerce business.

During the pandemic, online shopping boomed as stores closed and consumers were stuck at home, and publishers dove head first into developing their affiliate ecommerce strategies and building online shopping hubs — BuzzFeed included. But after watching retailers in China find success with livestream shopping, and identifying other players in the space, like NTWRK, which have gotten younger consumers to come around to the idea of appointment shopping, media companies are realizing there is more money to be made in online retail.

BuzzFeed now finds itself in an opportunistic position in the livestream space, thanks to its ability to combine its affiliate commerce business, its product licensing business and its video production studio business to create hours-long programming that highlights shoppable products to its audience.

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