Luxury group LVMH has officially announced its collaboration with Swedish company Bambuser, the recipient of LVMH’s Innovation Award. The partnership will focus on Livestream Shopping, a rapidly growing market in the retail industry. Although the specific brands involved in the collaboration were not disclosed, Bambuser has previously partnered with Christian Dior’s Perfumery segment and makeup brand Make Up For Ever.
By teaming up with Bambuser, LVMH aims to solidify its presence in the livestream shopping sector. Bambuser’s Live Video Shopping solution, a cloud-based software, will be utilized by LVMH to provide live shopping experiences across various platforms, including websites, mobile apps, and social media platforms like Facebook and TikTok. This innovative tool allows for personalized shopping experiences tailored to each brand’s unique identity, while also gathering valuable data about the audience.
The popularity of livestream shopping has skyrocketed in China over the last few years, emerging as a highly effective conversion channel even for high-end products. Experts in the industry, such as Yuan Zou, Head of Luxury & Fashion Europe at Hylink, China’s largest digital agency, and Nicolas Cano, Business Development Manager at Alibaba Group, have recognized this trend. In fact, 90% of brands that have joined Alibaba’s Tmall marketplace in the past three years have incorporated livestreaming as a prominent feature.
Bambuser’s Livestream Shopping solution aims to contribute to the democratization of the international livestream shopping market, with coverage in 195 countries. The software has already demonstrated impressive results, with traditional online shopping sessions seeing an average increase of 36% in cart additions when compared to livestream shopping sessions. LVMH expects this partnership to fuel its growth even further, as the company’s revenue in the first half of 2021 has already surpassed pre-pandemic levels by 11%.
