For more insights and key statistics on the biggest trends in today's most disruptive industries, subscribe to our Chart of the Day newsletter.
The livestream shopping landscape has completely transformed in recent years. QVC, which saw 45% of the downloads among the top 10 US livestream shopping apps two years ago, accounted for just 10% in the first five months of this year. (Apps like YouTube and TikTok were excluded because ecommerce is a secondary feature of their platforms.)
Beyond the chart: Installs of these top 10 apps went up 77% year over year as of May, with incumbents QVC and HSN ceding significant ground. Despite this increase in adoption, TikTok recently announced it would scale back its livestream commerce plans in the US, where these features are not catching on as they have in China via Douyin, its sister app. So while US shoppers are interested in dedicated livestream shopping apps, it’s still not clear if this functionality will gain traction on social platforms.
More like this: