The Next Generation of Home Shopping. NewsWire

NewsWire: 7/24/21

• Live-streamed, QVC-style events have become the latest must-have in online shopping. The future of shopping looks a lot like the past, except this time it’s often influencers hawking the products. (The Washington Post)
• NH: You probably associate live shopping events with long-running TV channels like HSN and QVC. What’s old is new again: Brands big and small have begun flocking to social media to peddle everything from clothing to pet products to home furnishings.
• The big names getting involved include Walmart, Amazon, Nordstrom, and Gucci. They’re using platforms like Facebook and TikTok, as well as their own websites. These events generated an estimated $5.6 billion in sales last year, which is expected to jump to $11 billion this year and to nearly $26 billion by 2023.
• Unlike traditional home shopping broadcasts, today’s livestreams are hosted by people who are already famous some other way, such as Kylie Jenner, Food Network host Ree Drummond, or TikTok’s D’Amelio sisters. That’s one of the reasons why retailers are betting this trend has legs: Viewers aren’t just tuning in to shop, but to watch and interact with their favorite personalities. Considering that hawking products is cool now (see “The Golden Age of the Celebrity Endorsement”), it’s a win-win for the influencer and for the seller.

Did You Know?

• Bitcoin Gains Among Younger Investors. Since the beginning of 2021, bitcoin has seen some major ups and downs. How many investors have actually been affected? According to Gallup, it’s a small percentage—but it’s one that’s steadily growing. 6% of U.S. investors (adults with more than $10,000 in stocks, bonds, or mutual funds) now own bitcoin, up from 2% in 2018. Ownership among 18- to 49-year-olds is up a more impressive 10 percentage points, climbing from 3% to 13%. It remains rare among Americans 50 and over: Just 3% own bitcoin, compared to 1% three years ago. As a comparison, 84% of investors own stock index funds or mutual funds, while 67% own individual stocks. There is still plenty of room for bitcoin to grow, and it looks like younger Americans will continue to lead the way. Since 2018, the share of those under 50 who say they have no interest in ever buying bitcoin has fallen sharply from 56% to 38%.