Walmart is making great efforts to enter live streaming e-commerce, striving to achieve the sales target of US$200 billion!

According to foreign media reports, in order to achieve its ambitious goal of $200 billion in sales in the next five years, Walmart is stepping up its investment in live shopping. The retail giant recently partnered with TalkShopLive to expand its influence, attract shoppers and increase sales conversion rates through online live broadcasts.

TalkShopLive has launched a feature called "Shoppable Simulcast," which allows Walmart to sync live events to its Facebook profile. In the June 20 live event, Walmart will offer a variety of products from books and music to cosmetics and household goods. The retail giant also invited Ree Drummond, the star of the film "The Pioneer Woman," who is also well-known on social networks and has held various live events.

To date, TalkShopLive has hosted thousands of live streams for retail giants like Target and Best Buy, as well as celebrities like Oprah, Jennifer Lopez, Dolly Parton, and Bobby Flay.

Ree Drummond will also launch her latest furniture collection during the event, which can be viewed on TalkShopLive, Walmart's Facebook page, Walmart.com/live and The Pioneer Woman's Facebook page.

TalkShopLive's Shoppable Simulcast enables sellers to synchronize live events to multiple social media platforms. Facebook is the first platform to cooperate with TalkShopLive. This feature supports live events to be broadcast on up to four pages at the same time. Retailers, brands, publishers and pre-ordered Facebook followers will receive notifications when the live broadcast goes online. When users enter the word "buy" in the search bar, they will immediately receive the product and check out in Facebook Messenger without leaving the live broadcast room.

“Customers are looking for shopping inspiration everywhere, and social media is particularly popular. That’s why Walmart is engaging with them where and on the channels they prefer,” said Justin Breton, director of brand experience and partnerships at Walmart. “With Shoppable Simulcast, we’ll reach more consumers during those live events while providing them with a convenient online shopping experience.”

According to PYMNTS's forecast, by the end of this year, the size of the live streaming e-commerce market in the United States will reach US$32 billion, almost tripling compared to 2021. By 2026, the market size will further grow to US$67.8 billion, accounting for more than 5% of the entire e-commerce industry.

Currently, U.S. retailers live stream on the following platforms: Facebook Live (55%), YouTube Live (52%), Instagram Live (46%), Amazon Live (30%) and the company’s app or website (28%).

U.S. consumers mainly participate in live shopping through social media platforms such as Instagram and Facebook (64%), video sharing platforms such as YouTube and TikTok (53%) and online marketplaces such as Amazon (31%), as well as TV networks such as QVC and HSN (30%) are also popular.

Editor ✎ Nicole/

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