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Coresight’s 3rd annual 10.10 Day highlights deals in inflationary times

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NEW YORK — Coresight Research will host its third annual 10.10 Shopping Festival, the second to be fully livestreamed, on October 10, 2022 in partnership with livestream shopping platform, MARKET.live by Verb Technology Company, Inc. (NASDAQ: VERB), video shopping SaaS provider Bambuser and influencer commerce company Nillio.

Deborah Weinswig

Deborah Weinswig, CEO and Founder of Coresight Research, said, “As brands and retailers face an inflationary environment following the pandemic, they are reinventing their business to stimulate demand and drive conversion. Shopping festivals provide great deals and special offers to consumers to help them cope with inflation and prepare for the holiday season. Cost-effective marketing methods such as livestream shopping and social commerce are ideal channels for brands and retailers to not only drive revenue, but also create deeper connections with consumers, enhance brand and product education, reduce return rates and increase customer satisfaction during this uncertain economic environment.”

10.10 is an annual, purpose-driven livestream shopping festival that connects consumers
with brands and retailers to jump-start the holiday shopping season with special deals and
exclusive offerings, while giving back to charity. This year’s festival builds on the success of the 2021 10.10 festival that featured over 30 retailers and more than 10 charities.

The livestreaming e-commerce market has exploded over the last 12–24 months. Coresight Research estimates that in the US, the market will grow 82% year over year to $20 billion in 2022. This compares to a livestreaming ecommerce market size of $497 billion in China in 2022 (up 52% from 2021), demonstrating the market’s tremendous potential to exponentially expand.

The festival this year is focused on showcasing livestreaming best practices to enhance engagement with consumers and create a repeatable new revenue stream for retailers. “Livestreaming provides a channel for retail companies to meet fast-changing consumer demand—but, to capitalize on the burgeoning live shopping opportunity, they need to offer valuable content, leverage internal staff and external talent to host events, and establish a live shopping strategy that takes into account platforms and frequency of sessions,” noted Weinswig.

To showcase livestream shopping best practices and give retailers and consumers alike the
opportunity to explore and test the channel, Coresight is partnering with VERB for its MARKET.live multi-vendor, livestream shopping platform, Bambuser for its SaaS live video shopping service and Nillio for its influencer shopping platform.

Rory J. Cutaia, CEO of VERB added “We are thrilled to partner with Coresight Research as the livestreaming platform for the 2022 10.10 festival. We look forward to showcasing our turnkey livestreaming solution to brands and retailers, and to providing an exciting livestream channel to our consumers allowing them to access great brands while also giving back to the community. We expect the livestreaming industry to continue to quickly grow in the United States, and we look forward to our collaboration to advance the livestream market.”

Sophie Abrahamsson, President of Americas for Bambuser commented “We are proud to be part of the Coresight 10.10 festival, that is such an important initiative for the US market,and to illustrate how Bambuser’s B2B live shopping technology is a key component in the
livestream shopping landscape. Since our launch in 2019 we have seen impressive growth in
terms of adoption both from retailers and the end consumers. We firmly believe that giving back control to retailers over brand perception, data collection and conversion by enablingthem to stream on their own platforms will be crucial as this industry consolidates.”
Gil Elias, Founder of Nillio added “We are very excited to participate in the 10.10 livestreaming festival in order to allow brands and retailers to experience our unique influencer-driven livestreaming solution. We look forward to aligning interests between brands and influencers in order to create win-win solutions that benefit both parties.”

Coresight has published over 150 insight reports on the subject of livestreaming over the last several years, including co-published reports with data and insights sharing with some of the leading global livestreaming platforms. For more information on livestreaming trends and best practices, visit www.coresight.com.

To participate in the 10.10 livestreaming festival visit:

https://1010shoppingfestival.com/register-for-1010/


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