The short video platform Firework has entered the field of live broadcast e-commerce and has launched a solution that allows companies and brands to sell their products through shopping videos and live broadcasts. The newly launched product is designed to allow brands to use real-time video streaming on their websites and applications to build e-commerce images. Firework will provide consumers with a purchaseable video experience on Wednesday, with more than 15 brands launching more than 30 products. Firework entered India in 2019 and is said to have more than 100 million unique viewers in the country every month and more than 300 million unique viewers worldwide.
Firework’s shopable video experience has been launched in India and plans to launch globally. It will allow consumers to purchase products after watching the live video.
To demonstrate the solution, Firework will host a live sales event on Wednesday, with companies and brands such as Portronics, Bigsmall.in, and Blissent participating.
Due to the COVID-19 pandemic and appropriate social distancing practices, many people are beginning to prefer online shopping instead of offline store visits, and this US-based platform has launched new products.
Sunil Nair, CEO of Firework, said: “For us, as a business tool, it allows brands to more easily take advantage of mobile vertical video, e-commerce, and live broadcast, as well as their unlimited influence on the open network. It’s important for us.” India, in a prepared statement. “Therefore, brands can achieve these through simple integration, rather than exhausting key resources when developing this capability.”
With the support of venture capital firms such as IDG, GSR Ventures and Lightspeed, Firework is said to have more than 500 publishers worldwide, including India’s Jio, Airtel, Vodafone and Google. Firework also launched an open story page (OSP) model last year to counter products such as TikTok and Instagram, and allows content creators to create vertical short videos that can be profitable by companies, brands, and manufacturers already on the platform.
According to consulting firm RedSeer, real-time commerce in India is growing rapidly, and the total value of goods is expected to reach US$400 million to US$5 billion (approximately Rs 29,700-37,100 crore) by 2025. It is speculated that the beauty and personal care segment will grow the highest among other industries.
In February of this year, India’s TikTok alternative Chingari announced its plans Bring shopping videos To its platform, this will help generate income for content creators. InMobi’s Glance also recently acquired social commerce startup Shop101 to bring a similar real-time commerce experience. Globally, Instagram and TikTok are also exploring ways to provide e-commerce solutions natively through short video products.