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What the numbers say: Livestream e-commerce events were more popular among German millennials in 2022 than among the older Generation X and the younger Generation Z. The study was conducted in Q3, 2022 on 13,510 respondents, with a minimum of 1,000 from Germany. Relevance: Germany is the largest economy in the EU, and the success of livestream shopping varies significantly between markets. The degree to which the retail channel gains popularity in younger population groups is strongly indicative of its growth prospects in a particular region. Livestream-based e-commerce has seen explosive growth in China, with two-thirds of Chinese consumers saying they bought products via livestream in 2019. However, the retail channel has seen more muted growth in Western countries. Data from 2022 indicates that its reception in Germany is mixed and surprisingly weak in the country's youngest demographic cohort, Generation Z. Brands that should care: D2C brands, e-commerce platforms, and retailers that rely heavily on online sales should ensure that their investments in livestream e-commerce are appropriate for local market conditions. Based on current data, it may be advantageous to invest heavily in livestream shopping for business operations in China. However, the cost-reward ratios of such investments are different in the U.S. and Europe. |
