Worldline and Livescale boost the global adoption of live shopping
Worldline [Euronext: WLN], the European leader in the payments and transactional services industry, has announced a partnership with Livescale, a pioneering force in the adoption of live shopping. Live shopping, a trend in which retailers, influencers, or celebrities promote and discuss products and services with shoppers via live-streaming video, is proving to be one of the fastest-growing phenomena in e-commerce today. Together Worldline and Livescale will offer an embedded commerce solution with seamless in-video checkout capabilities across social media and websites, which will support 150 online payment methods so shoppers can pay as they like.
Live shopping has emerged in China as one of the hottest trends in e-commerce. On the popular Chinese shopping platform Taobao over 50% of its 800 million customers use live-streaming e-commerce. For Chinese e-commerce businesses live shopping is becoming a standard toolkit to sell online and particularly within fashion and cosmetics. Its popularity is growing exponentially across the globe and has gained traction in more mature markets such as the United States and Europe, especially as widespread lockdowns have forced physical stores to find new ways to engage with consumers. Live shopping is seeing impressive payment volumes and engagement with Livescale reporting boosting brands sales by a factor of three to six, a conversion rate up of 39% and a new customer acquisition rate of up to 40%. This bodes well for future sales.
The Worldline / Livescale partnership combines Livescale’s embeddable Live Shopping software with Worldline’s connected checkout functionality, increasing the e-commerce sales conversion rate well above the industry standard. One distinctive feature is in-video checkout, which allows consumers to complete the payment for their purchase seamlessly while staying in the live video experience. This facilitates both the promotion and sale of goods or services, as well as deepening effective engagement with consumers in real-time as brands look to bridge the physical and digital – “phygital” – gap in retail. This enhanced offering, alongside a robust analytics dashboard, will help provide brands and manufacturers with those three critical factors they are so desperate to share with their customers – inspiration, an enhanced shopping experience and increased loyalty.
The statistics speak volumes. L’Oréal, an early adopter of the Worldline / Livescale Live Shopping solution in Canada, saw a 300% increase in sales in one hour of live shopping compared to one day of e-commerce activity, an average of 40% engagement across all events to date and a 50% boost in new customers. In addition, sales during Lancôme’s special Singles Day event in Canada exceeded expectations, earning a mention in Vogue Business’ holiday trend analysis for 2020.
Jie Xue, Product Manager Innovations at Worldline Digital Commerce commented on the partnership: “The launch of this new initiative is a step change in the way customers will interact with brands in the future. Consumer behaviour has changed dramatically over the past few years, and the Covid-19 pandemic has further accelerated the digitalization of retail. Enabling customers to purchase seamlessly without friction and at pace will increase transaction volumes and substantially improve the customer experience.”
Madison Schill, Communications at Livescale, said: “Our market-leading partnership with Worldline underscores one of the key differentiators in our offering at Livescale: embedded commerce and a seamless path to purchase, which we are proud to pioneer in an expanding and diverse global market. By joining forces with Worldline, we provide brands an unparalleled offering built upon a proven model – the fruits of which ensure global brands will push the envelope in customer loyalty, interaction and sales for years to come.”
For more information visit the Worldline website.
About Worldline—Worldline [Euronext: WLN] is the European leader in the payments and transactional services industry and #4 player worldwide. With its global reach and its commitment to innovation, Worldline is the technology partner of choice for merchants, banks and third-party acquirers as well as public transport operators, government agencies and industrial companies in all sectors. Powered by over 20,000 employees in more than 50 countries, Worldline provides its clients with sustainable, trusted and secure solutions across the payment value chain, fostering their business growth wherever they are. Services offered by Worldline in the areas of Merchant Services; Terminals, Solutions & Services; Financial Services and Mobility & e-Transactional Services include domestic and cross-border commercial acquiring, both in-store and online, highly-secure payment transaction processing, a broad portfolio of payment terminals as well as e-ticketing and digital services in the industrial environment. In 2020 Worldline generated a proforma revenue of 4.8 billion euros. worldline.com
About Livescale—Founded in 2016 in Montreal, Canada, Livescale is a Live Shopping solution that empowers brands to engage and convert customers through a fully customized and brand-owned experience. Tapped by LVMH as one of the 2020 most innovative start-ups, Livescale’s innovative in-video checkout technology is also a special feature of the company.