German start-up, Livebuy, has raised €4.9 million in seed funding to take advantage of the growing trend of live shopping experiences in Europe. Launched in 2020, the company aims to modernize teleshopping for the smartphone era with its slogan “live shopping made easy.” Livebuy provides a platform for retailers and brands to create their own live video shopping experiences and seamlessly integrate them into their existing online shopping operations.
The funding round was led by RTP Global, with participation from other investors. The capital will be used to improve Livebuy’s proprietary software, expand its offerings, and fuel its growth across Europe. While live shopping is gaining popularity in Europe, it still lags behind Asian and US markets where it is already a significant phenomenon. The livestream shopping market in Asia is currently worth billions of dollars, with over 150 live shopping platforms in the region. According to McKinsey, China’s live-commerce market grew at an astonishing compound annual growth rate of over 280% between 2017 and 2020. It is projected that Chinese sales alone will reach $423 billion by 2022.
Livebuy boasts prominent clients such as Douglas, KaDeWe, Lidl, and MediaMarktSaturn. CEO and co-founder, Alex von Harsdorf, is excited about the company’s successful first year. He believes that putting creators at the forefront of shoppable live streams is crucial, as the ability to attract the best live video shopping creators will determine who dominates the market.
Livebuy’s recent funding round highlights the increasing demand for live shopping experiences in Europe and the immense potential for growth and profitability in this space. As consumers look for more interactive and immersive shopping experiences, the convergence of online video and e-commerce offers exciting opportunities for retailers to engage with their customers in real-time. With Livebuy’s innovative platform, retailers and brands can leverage the power of live video shopping to boost sales, enhance customer experiences, and stay ahead in the competitive e-commerce landscape.
Useful links:
– Livebuy Official Website
– McKinsey Report on E-commerce in Asia
