Those who know me are aware that I've always been a strong advocate for video and live-streaming commerce. Beyond the challenges of the supply chain, building the capability and willingness of creators is crucial to unlocking potential in markets outside of China. This is especially true in the Western world, where creators are accustomed to monetizing through ads. Tools and education are vital to boosting the overall economy, presenting interesting opportunities for startups. For eCommerce players, an additional challenge lies in balancing the user experience between video-driven interactions and traditional search and browsing methods. It's difficult to evolve user experiences on large platforms with significant GMV. Will these platforms successfully adapt to the growing popularity of video commerce? I’m still curious about the path forward, as it's something I haven't fully figured out yet.
[Published in May 2024] "We will deepen and broaden engagement with creators, sellers, and partners across the content ecosystem and better integrate live streaming and short-form video into the shopping experience." - Forrest Li, CEO of Sea Group. 🛍️ Ecommerce platforms like Shopee, Lazada, and Tokopedia are incorporating short-form video content and live-streaming features to attract new customers, particularly younger consumers, and replicate the success of TikTok in driving sales and building a vibrant content ecosystem. 📊 Ecommerce players are facing a challenge in creating engaging and high-quality video content that can rival TikTok's dominance in entertainment and ultimately drive sales. This requires attracting a diverse range of creators and incentivizing user engagement to build a self-sustaining content library. 🔥 Will these platforms successfully adapt to the growing popularity of short-form video content, leveraging it to drive sales and retain customers, or will TikTok continue to dominate the video commerce landscape?
