Bigo Marketplace is an e-commerce initiative launched by Bigo Live, the global leading live streaming platform. The platform announced that the new initiative aims to help local Malaysian micro-enterprises and small and midsize businesses leverage its growing user base. This will help brand exposure and facilitate sales conversions.
The Bigo Marketplace launch includes a new feature called "Shop" on the Bigo Live app. Users and broadcasters can access this feature for a simple and convenient shopping experience. This new feature is accessible to vendors who have signed on to the Bigo Marketplace program. During a live streaming session, vendors must enable Bigo Live to direct users to the brands' product website. The e-commerce initiative follows the success of Bigo Live's Bigo Pasar Mallam event.
Malaysian Social Commerce Marketplaces
Bigo Marketplace Facilitates Local Business Exposure
Trend Themes
1. Social Commerce Marketplaces - There is an opportunity to create social commerce marketplaces that facilitate local businesses to leverage the user base of social media platforms.
2. Live Streaming Shopping - Live streaming technology can enable e-commerce platforms to offer a convenient and interactive shopping experience to users and broadcasters.
3. Micro-enterprise and SME Support - E-commerce initiatives can support the growth of micro-enterprises and small and midsize businesses by enabling brand exposure and sales conversions.
Industry Implications
1. E-commerce - E-commerce companies can leverage the power of social media and live streaming technologies to create innovative and convenient shopping experiences for their customers.
2. Social Media - Social media platforms can extend their capabilities to include e-commerce features, thereby creating new revenue streams and increasing user engagement.
3. Small Business - E-commerce initiatives can enable small and micro-enterprises to reach a wider audience and grow their businesses by providing a level playing field with larger businesses.