Short-video platform Firework launched an open web initiative that will allow businesses and brands to sell products through shoppable videos and livestream. The launch happened with a livestream sale, and saw more than 15 brands across various categories offering discounts and giveaways.
Firework said in its statement that it draws more than 100 million unique viewers each month from India alone, and over 300 million globally. With livestream and e-commerce capabilities, Firework added brands will be able to build their e-commerce ubiquity based on Firework’s open web shoppable videos debut. “With Firework’s Livestream and shoppable videos, brands or e-commerce platforms can host a livestream and sell products on their own website,” Firework said in a statement.
“There is a significant shift in the way people across the globe and India shop today. The pandemic influenced irreversible change in consumer habits and online shopping have replaced brick-and-mortar stores. 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.
Firework said its livestream commerce solution will change the way consumers are buying online. It added that the market is growing at a compounded annual growth rate of 28%, and is expected to be a $247 billion market by 2027, and that brands have already used such methods. “Firework is at the forefront of these innovations & Firework’s ‘in video’ commerce initiative brands can livestream content & influence purchase without really having to intrude into the viewer's experience,” it said in a statement.
Nair added that it was essential for them to create tools to make it easier for the brands to use for mobile vertical videos, e-commerce and livestream. “Hence, brands can enable these with a simple integration rather than exhausting critical resources in developing this capability,” he said.
Firework said its network includes publisher partners like Google, Airtel, Jio, Vi and traditional platforms and apps.