We recommend checking out what he had to say.Part 1: How to Record Facebook Live Videos on Windows/Mac TechRadar’s own Daryl Baxter is tempted to delete his Instagram account after a fairly recent Reels update. But there are many users out there pushing back against short-form videos taking over platforms. Perhaps Meta believes live e-commerce shopping is not worth the effort and Reels is. There are indeed options, but is shutting down a platform that people depend on and has growth potential worth it to push Reels? Yes, Facebook Marketplace and Live will continue to exist and yes, you can still hold e-commerce live streams on Instagram. Those numbers call into question Meta’s insistence on making Reels a bigger part of its platforms. In a Business Insider report (opens in new tab), Mimi Striplin, owner of the boutique The Tiny Tassel, revealed sales for her store went up by almost 50 percent after her first Live Shopping stream. Consultancy group McKinsey Digital said in a 2021 report (opens in new tab) that Chinese live e-commerce sales could hit $423 billion this year.īesides the growth aspect, the shutdown will surely have a negative impact on businesses that rely on Live Shopping. These numbers appear plausible if you look at how successful live-ecommerce has been in China. And it's projected that sales could reach $35 billion by 2024. A Statista study (opens in new tab) revealed live e-commerce sales reached $6 billion in 2020 and are forecasted to hit $11 billion in 2021. There is a lot of growth potential for live e-commerce shopping as the industry continues to grow. It appears that Meta actually believed in the platform, so what gives? Analysis: Propping up Reels Looking at Live Shopping’s own business page on Meta’s website, the platform was expected to make $500 billion in revenue by 2023. What makes the sudden Live Shopping shut down even stranger is that it had a lot of potential to succeed. Major beauty and fashion brands came onto the platform to promote their new product lines in an interactive live stream. The platform also experimented with weekly events last summer via Live Shopping Friday (opens in new tab).
November 2021 saw the addition of Live Shopping for Creators (opens in new tab) which allows content creators and product brands to cross-stream on their respective pages without forcing their audiences to choose one live stream over the other.
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