NEW YORK--(BUSINESS WIRE)--Coresight Research will host its second annual 10.10 Shopping Festival on October 10, 2021, from 10am to 10pm ET in partnership with livestream shopping platforms, CommentSold and Smartzer, and 1:1 live video co-shopping platform, GhostRetail. This year, Coresight Research has partnered with Access Beauty Insiders to bring more beauty brands, especially indie brands, to 10.10 to generate discovery and excitement.
10.10 Shopping Festival features a prominent charitable aspect so that consumers and brands can collaborate on making a difference as participating retailers and brands are donating at least 5% of sales to partner charities. Consumers increasingly choose where they spend based on the social/ethical/cultural values of retailers and brands. In a recent Coresight Research proprietary US shopper survey, 60% of US shoppers state that a retailer’s or brand’s social impact is important when making apparel and footwear purchases, making the charitable giveback of 10.10 a solid plus for all participating in the event. The charities included this year include American Heart Association, Delivering Good, National Breast Cancer Foundation, PinkAid, Retailers United, St. Jude Children's Research Hospital and Soles4Souls.
The festival this year is focused on accelerating US consumer adoption of livestreaming. Livestream platforms boast superior consumer engagement and significantly reduced return rates versus ecommerce generally, providing retailers with significant opportunities for enhanced profitability. According to a Coresight Research survey, 39.7% of consumers shop in livestreams for a great deal, 38.2% to discover new products, 36.6% to learn more about new products, and lastly 30.7% because the buying is exciting.
Deborah Weinswig, CEO and Founder of Coresight Research, said, “Livestream shopping has grown from a zero to a $300 billion industry in China in a very short period of time. We are very confident that the US market will reach what we are seeing in China, and the 10.10 Shopping Festival will enable retailers and brands to test and learn and grow this commerce segment. Compared to 2020, Coresight Research estimates that livestreaming e-commerce penetration in the US will more than triple by 2023, representing huge growth potential.”
To introduce the US market to livestream shopping and give retailers and consumers alike the opportunity to explore and test the channel, Coresight is partnering with Commentsold, Ghost Retail and Smartzer, platforms used by global brands and retailers to make their livestreams and videos shoppable, on the 10.10 Shopping Festival.
“We work with over 6,000 retailers that are already using live selling to connect with their customer audiences on a personal level,” said Brandon Kruse, CEO of CommentSold. “So we are thrilled to partner with Coresight Research on the 10.10 shopping festival to give the merchants on our platform new opportunities to reach customers via livestreamed sales.”
Jimmy Furlano, Founder and COO of GhostRetail, added, “The world of retail is transforming rapidly as live streaming video is no longer a novelty, but a new online shopping standard. GhostRetail is proud to stand behind Coresight’s 10.10 Shopping Festival, supporting a fantastic cause that is both innovative and charitable, and to help participating retailers understand how our 1:1 live video co-shopping platform can add cost-effective video selling to their businesses that is proven to convert ecommerce transactions by more than 7x.”
“We are incredibly excited to be part of the 10.10 event, giving brands and retailers access to Smartzer's live shopping technology,” stated Karoline Gross, Founder and CEO of Smartzer. “We are very interested to see how different brands and retailers in the US will approach shoppable livestream content throughout the event, following the huge success of the format in China—where nearly 15% of all online sales now come from live shopping. Results from live shopping in other markets are already showing engagement rates of up to 75%, strongly suggesting that this format will become core to e-commerce.”
Lisa Mason, celebrated selling host on national and digital commerce platforms, and Sarah Williams, on-air host and performer seen on Amazon Prime, CBS, E Network and Yahoo Productions, will be hosting selected sessions of 10.10 Livestream.
Participating Retailers and Brands
- 100% Pure
- Auda B.
- DefineMe Fragrances
- Fifth and Cherry
- Gladys Tyler
- High on Love
- May11 Hair
- My Skin & Co
- Neighborhood Goods
- Organic Apoteke
- Organic Candy Factory
- Purlisse Beauty
- Retail Pride
- Shielded Beauty
- Skin Authority
- Urban Savage
- Vera Bradley
- American Heart Association
- Delivering Good
- National Breast Cancer Foundation
- Retailers United
- St. Jude Children’s Research Hospital
- Soles for Souls
To participate in the 10.10 Shopping Festival or for more information on the event, visit http://1010shoppingfestival.com/.
About Coresight Research
Coresight Research is a research and advisory firm specializing in retail and technology. Established in 2018 by leading global retail analyst Deborah Weinswig, the firm is headquartered in New York, with offices in London, Lagos, Hong Kong, Shanghai and Mangalore (India). The firm provides data-driven analysis and strategic advisory to clients including retailers, brands, enterprise technology companies, accelerators and more. In addition to being renowned for its breadth and depth of research, Coresight Research is known for its expertise in the China market, helping clients with market entry and cross-border e-commerce strategies. Coresight Research is also known for its Innovator Intelligence platform, consisting of a vast network of technology entrepreneurs that it actively cultivates through events, mentorship, and regularly updated report coverage. For more information, visit www.coresight.com.
CommentSold provides the complete technology infrastructure retail SMBs need to operate and grow their businesses. The digital platform simplifies inventory and order management, payments, invoicing, labeling, packaging and fulfillment processing for business owners, and enables live and social selling on social media, mobile apps and websites. Retail SMBs can run their entire selling operation on the CommentSold platform, while DTC and larger traditional retailers will soon be able to use the platform to expand from conventional selling channels into live and social selling. The company was named for “comment selling,” which refers to retailers posting on social networks and enabling shoppers to purchase items in real time by typing “sold” in the comments of a post. Led by entrepreneur Brandon Kruse and based in Huntsville, Alabama, CommentSold currently powers e-commerce operations, including live and social selling, for more than 6,000 companies. For more information, please visit CommentSold.com.
Founded in 2019, GhostRetail is the first 1:1 live video shopping platform to deliver a complete in-store experience online. Developed specifically for enterprise retailers, it drives top- and bottom-line growth through live, in-person sales consultations that delight shoppers, and integrations that create a seamless experience from discovery through checkout. GhostRetail also opens up new opportunities for brands to activate influencer communities and extend traditional sales forces. For more information on GhostRetail and our solutions, visit www.ghostretail.com.
Smartzer is a platform used by global brands and retailers to make their livestreams and videos shoppable, to drive engagement and accelerate conversion. The shoppable livestreams and videos can be shared across e-commerce and social media platforms. Smartzer is part of LVMH La Maison Des Startups, with customers including Bloomingdale’s, Valentino, JD Sports, Adidas Missoni and Samsung.