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环球UG:‘Shoppertainment’ next US$1 trillion trend in Asia

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In this April 27, 2020, photo, Song Huiyan shows her fashion dresses for her online clients during the live-streaming at her clothing shop in Beijing. Retailers in China are embracing livestreaming as a sales channel amid a Chinese "shoppertainment” boom accelerated during the COVID-19 pandemic. Via livestreaming, retailers can interact with customers in real time, while customers make purchases directly in the stream.(AP Photo/Andy Wong)

HANOI: Shoppertainment could uncover US$1 trillion (RM4.5 trillion) in market value for brands in the Asia Pacific (Apac) by 2025, according to the latest study published by TikTok and Boston Consulting Group (BCG).

Titled “Shoppertainment: Apac’s Trillion-Dollar Opportunity,” the report surveyed markets across Apac, including Indonesia, Thailand, Vietnam, Australia, South Korea and Japan, and found that the immense choices afforded by technology have shaped consumers’ appetite for discovery, authenticity and community-driven recommendations, giving rise to the next era of online commerce, Shoppertainment.

Shoppertainment is content-driven commerce that seeks to entertain and educate first while integrating content and community to create a highly immersive shopping experience.

Analysis conducted by BCG also predicted that Shoppertainment is expected to grow at a 63% compound annual growth rate for markets included in the report, with Australia, Indonesia, Japan, South Korea, Thailand and Vietnam driving significant value opportunities in this area.

While consumer sentiment varies from market to market, Shoppertainment will grow more rapidly to represent larger shares of the total eCommerce market.

The study revealed that Apac consumers expect brands to focus on entertainment before complementing it with clear product information and intuitive purchasing paths to drive consumers from awareness and desire to conversion seamlessly.

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Up to 81% expect storytelling and educational-first content, and 76% are keen on video-first formats. This can be created by influencer and brand collaborations and shown through shoppable TV, livestream broadcasts or even live events online, weaving in comedy to entertain and engage.

More than 70% find that authenticity is important in making content engaging.

Brands can create an authentic brand sentiment with credible reviews and open and engaging community conversations that inspire the community through product reviews or unboxing videos.

Meanwhile, 71% expect brands not to force decision-making when engaging consumers.

Brands must ensure content is associated with interests and hobbies that align with consumers by targeting good feelings and nostalgic recollections that rekindle excitement while building stories around uplifting and engaging themes.

Moreover, 65% want to see trusted advice and recommendations on brands online. It is important to include the voices of credible and trusted community experts and facilitate extended conversations between friends and users.

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