Foraying into the video commerce segment, short video platform Firework will now empower businesses and brands to sell their products through shoppable videos and livestream. The startup will showcase more than 15 brands across various categories offering discounts and giveaways.
The IDG and Lightspeed backed platform draws over 100 million unique viewers each month in India and over 300 million globally.
“There is a significant shift in the way people across the globe and India shop today. However, for consumers a ‘serendipitous store – like’ shopping experience is what is missing from online shopping. Brands which are able to effectively offer the joy of brick-and-mortar shopping to an online shopping experience, will emerge as the winners in this space,” said Sunil Nair, CEO of Firework India.
The live commerce market is growing at a CAGR of 28 per cent globally and is expected to be a $247 billion market by 2027.
Earlier this month InMobi’s Glance also acquired full stack e-commerce platform Shop101 to launch celebrity and influencer-led live commerce. In February, homegrown short video app Chingari had also announced entering the social video commerce platform and is eyeing a revenue of $100 million annually in the next two years from the service.
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