How live ecommerce is making collecting more enjoyable for everyone

In 2016, when Chinese retailer Alibaba linked an online livestream with an ecommerce store allowing viewers to watch and shop at the same time, it was a simple but momentous turning point – the future of shopping had arrived.

The first 30 minutes of Alibaba’s Singles’ Day (a major shopping festival in China) presales campaign on live ecommerce platform Taobao Live generated a $7.5 billion in total transaction value. Since then, live commerce in China has grown to become a $60 billion market today with hundreds of millions of people watching live streaming sellers every year, making the live ecommerce platform Taobao Live the 8th most popular website in the world. 

Following China’s lead, more brands are establishing their own live commerce ventures and events to promote their products. German beauty retailer “Douglas” streams several shows a week in a range of formats while Tommy Hilfiger recently extended its livestream program to Europe and North America following successes in China, where one show reportedly attracted an audience of 14 million and sold 1,300 hoodies in two minutes. In addition, in December 2020, Walmart piloted a livestream fashion event on TikTok that netted seven times more viewers than expected and enabled it to add 25 percent to its TikTok follower base.

Live shopping is not a new concept for consumers; it goes all the way back to home shopping networks throughout the world – whether it’s the famous QVC Home Shopping Network in the US or our own homegrown Home Shopping Network or Shop TV in the Philippines. 

However, like anything you transfer from TV to digital, the opportunity for interactivity in livestream shopping is so much greater. Live chat is a big part of the experience, where shoppers can ask questions or make requests and the host picks those up in real time to respond. When the host is an influencer with a big fan base, there’s that extra thrill of being acknowledged and it’s probably the closest thing most fans will get to having a direct conversation. The fusion of entertainment and shopping – ‘shoppertainment’ – is irresistible. The thrill of scoring exclusive deals, participating in a live auction, and discovering unique items fuels a rush of adrenaline, turning the shopping journey into an adventure.

How does live ecommerce help brands?

According to a Statista survey conducted across six Southeast Asian countries, at least 71% of all respondents were aware of live commerce, with over 60% of those in Thailand (61%) and Vietnam (70%) having made direct purchases. Moreover, live commerce events negate the use of shady infomercial hosts. Celebrities and other influencers are now spearheading these live shopping events and interacting directly with potential consumers. A live shopping experience hosted by Pepsi Philippines on Facebook Live not only resulted in all limited edition BLACKPINK x Pepsi cans becoming sold out, but also lifted the brand’s engagement rate by a whopping 35 times. For brands and consumers alike, it’s become an effective and exciting way to connect. With the cases of these brands to study, it’s not difficult to assess why exactly live e-commerce has led to so much success for them. 

1. Live streaming commerce strategies generate sales quicker by exposing products to thousands of viewers in minutes 
2. Live stream shopping also encourages impulse buying. People may feel more inclined to buy when they are taking part in an exclusive event and fear they may miss out on the limited-time great offers. 
3. It promotes better engagement because of the use of video content
4. It builds brand awareness as consumers can see the face behind the brand, or beloved influencers using your products

There’s good news for collectors

It was only a matter of time before the live ecommerce trend made its way to the world of collectibles. In 2022, eBay launched eBay Live, a live shopping platform for collectibles that would allow collectors to browse and buy products in a live, interactive environment. Sports retailer Fanatics will soon launch Fanatics Live, a platform for live stream shopping of trading cards and other sports collectibles, which signals a push into a different consumer base and capturing more value from online shoppers.    

For collectors, veterans and beginners alike, this bodes well for the following reasons: 

Enhanced Buyer Experience

With the ability to interact with sellers and fellow enthusiasts in real-time, collectors can gain valuable insights into the authenticity, condition, and provenance of the items they are interested in. A survey by Nielsen found that 75% of consumers prefer live video interactions when making purchasing decisions, demonstrating the trust-building potential of this interactive medium.

Building a Community

Live ecommerce also serves as a platform to build a sense of community among collectors. Sellers can host a live auction, an unboxing session, and discussions about collectibles, creating a space for like-minded individuals to connect, share their passions, and exchange knowledge. 

Showcasing Rarity and Uniqueness

Collectibles are often treasured for their rarity and uniqueness. With live ecommerce, sellers can present one-of-a-kind items in real-time, attracting collectors eager to add exclusive pieces to their collections. Picture being at a Christie’s or Sotheby’s auction but in the comfort of your own home. 

What’s Next?

Collectibles are a $50 billion market in Southeast Asia and the Philippines has a vibrant and passionate collector community that spans across various niches, including LEGO, Sneakers, Funko Pops, and even action figures and comic books. The average Filipino collector’s interest in this market is getting fueled by greater global access to niche items as well as a higher spending power. 

What the Philippines now needs is an easy-to-use, all-in-one, trustworthy platform for collectibles – enter TOKI. Designed by collectors for collectors, the soon-to-be-launched Toki will have everything collectors look for, whether it’s a live auction on a rare NBA card, a great deal on your favorite Funko Pop, or a marketplace to browse in.

Each item undergoes rigorous scrutiny and verification by our team. Every seller is carefully vetted. All transactions are held in escrow so you can be sure every payment is secured. In short, we’re as serious about trust as we are about collectibles. TOKI also handles all the logistics—payments, shipping, customer support—so that customers are free to do what they do best—find that perfect item missing from their collection. 

So, welcome to TOKI, the future of live ecommerce and collecting all rolled into one, to make it an easy, fun and unforgettable experience.