In recent years, a new wave of non-traditional, alt-commerce models has emerged, challenging our assumptions about consumer purchasing and preferences. Alt-commerce represents a radical shift in the way people buy and sell products. Innovation and technological advances, coupled with the need to foster closer customer relationships, have given rise to new selling channels.
As the media landscape evolves and new marketing formats enter the fray, tried-and-true methods of benchmarking may not be as reliable. No matter which new path you’re about to tread, deciding which marketing benchmarks to use and how best to measure them will be instrumental in ensuring successful campaigns.
Livestream commerce became more popular during the pandemic lockdowns, and there are new reasons why it’s seeing some pickup. Some high-profile shakiness in the U.S. (see Facebook, TikTok) means brands need to understand what their audiences want and need, instead of trying to apply here what worked in other markets.
Facebook is shutting down its livestream shopping venture two years in, putting its efforts behind the popular Reels short-form video platform as livestream shopping has yet to catch on here in a big way as in China, and retailers, brands and platforms need to rethink their approach. Experts weigh in on what they need to do.