It’s been a big year for TalkShopLive – and for live commerce in general.
The live trading platform has been around since 2018. Until 2021 it was fully seeded – but it took a $3 million seed round a year ago last February. Since then, TalkShopLive has intensified its partnerships with major publishers and retailers, including Walmart and Condé Nast.
Co-founder and CEO Bryan Moore joined the Modern Retail podcast this week and spoke about the platform’s growing presence. “2020 was when we started to see a lot of people come in with their books and their music and have these blockbuster sales,” he said. “It proved the model and proved the value for creators.”
Unlike other live commerce apps, TalkShopLive focuses on offering integrated streams. While customers can go to its website to see what programs are streaming — which Moore says a lot of people do — brands and publishers can also host the streams on their own websites. In Moore’s description, this allows for a better relationship for retailers working with publishers — as well as designers trying to launch their own business lines. “One of the things we’ve consistently heard from creators is that they really appreciate having a destination outside of their traditional social platforms to use as a shopping destination,” Moore said.
This comes as the live trading space as a whole has seen big gains. Apps like Ntwrk and Whatnot have raised hundreds of millions of dollars over the past few years, and many experts say North America is finally starting to embrace the medium. According to Insider Intelligence, live trading is a $300 billion market in China and Western countries are also increasingly testing it.
One of TalkShopLive’s biggest recent successes is with Walmart. The big-box retailer tested a few live-streaming programs in late 2021. Apparently the company liked it — Walmart increased its lineup by about 420%, Moore said, and booked programs from live trading throughout the summer.
“The Brand Experiences team at Walmart is truly phenomenal and fully understands the value of this space and how to really maximize it for their customers and vendors,” Moore said.
For now, Moore is focused on growing TalkShopLive partners and getting more retailers and creators to test out its offerings. “You’re going to see a lot of other retailers launch in the next quarter,” he said.
Here are some highlights from the conversation, which have been lightly edited for clarity.
Live Commerce Strategies are the New Social Media Strategies
“When I started the social media department at Twentieth Television, people were like, what is social media? Do we really need this? is asked: What is our social media strategy? And then soon after everyone was like: what is our Facebook strategy? What is our Instagram strategy? What is our YouTube strategy? I think we are now at this inflection point with live commerce. What were people like in North America: what is live commerce? do we really need it for our business? I think it would have been product regardless of the pandemic or not, but I think everything with the pandemic has accelerated the adoption of it. And I think the last year has really been a year of people coming in to test the waters. What we’ve noticed , is that in the live trading landscape, d Many actors enter the field. But now I believe where we are is where people have been testing. And now they’re looking for what’s the solution that’s scalable for our business, that drives results. »
On the rise of its partnership with Walmart
“The Brand Experiences team at Walmart is truly phenomenal and fully understands the value of this space and how to really maximize it for their customers and suppliers. Which was really awesome, we did some testing over the holidays last year, we did a show with Drew Barrymore… [and] with Pioneer Woman Ree Drummond, with Rachael Ray. And then we did another one with IGN. And so it was a way for them to also work with an editor. And after that they came back and [said] it worked so well, and [that] many of their vendors and merchants were genuinely interested in doing so. So now they’ve increased their lineup, I believe, by 420%, over what was originally planned. And we are already planned for the summer with a different program.
Live trading is not QVC 2.0
“A lot of people talk about live commerce: is it QVC 2.0?? Or is it home shopping 2.0? Home shopping, as a young guy from New Jersey, I was obsessed with. It was phenomenal. I think the day I decided to start Talkshoplive I had actually watched the movie Joy so I loved it and I have so much respect for teleshopping but what I will say as someone coming from of the realm of online content creation is that brands that see it as a way of doing where content meets commerce is a better way of seeing it for them than QVC 2.0. to say is, how do we create this as a brand experience where people connect with our brand?Because consumers have evolved.