Today marks a big day.
First, it’s a big day for us at Firework—because we just announced a landmark partnership with the Fortune #1 company.
But more importantly, it’s a big day for the entire retail ecosystem—because of what this partnership represents and how initiatives like this are going to change shopping as we know it.
Firework is joining forces with Walmart Connect to bring our dynamic brand of livestream and shoppable short-form video to Walmart.com/live.Here’s a rundown of the announcement:
- Firework has partnered with Walmart Connect to launch a live shopping experience in support of Walmart’s Mega Beauty Event with brands J&J, L’Oreal, P&G, and Unilever. The event includes four livestreams that took place September 13th through 16th and features replays and shoppable videos for continued engagement.
- Walmart Connect selected Firework as one of its Innovation Partners, among select leading shoppable platforms whose technology is designed to seamlessly integrate into retail media. The partnership will allow Walmart Connect to expand its offering and connect its advertisers with customers through key moments in the shopper journey.
It’s fitting that we’re making this announcement during Groceryshop, the industry’s largest event, and that we’re doing it alongside the #1 global grocery leader. Grocery retailers aren’t immune to the challenges that face the broader retail industry when it comes to connecting with customers and adapting to the shifts in shopping habits and expectations. So what does this news signal for the broader industry?
Customer Centricity Leads The Way
Grocers, retailers, brands—anyone with a digital property who needs to reach a digitally native audience—understands that traditional methods and channels of customer engagement need to be re-examined as they don’t hold the same promise they once did.
Walmart Connect has always been customer centric. They’ve seen that consumers who shifted to online shopping during the pandemic have chosen to stay there and those that return to stores increasingly rely on online research to influence their decisions.
And it’s undeniable that consumers have also shifted to short form video. What started as the preferred language of Gen Z has cascaded across the mainstream. In fact, 72% of consumers would prefer to learn about a product or service by way of video.
It’s no surprise that Walmart Connect is partnering with Firework to bring short form, shoppable and livestream content to their digital properties. They’ve consistently evolved to be where their customers are and in doing so, lead the rest of the industry.
Livestream Shopping Is Ready for Prime Time
This year, livestream shopping in China accounts for nearly one-fifth of all ecommerce and is expected to be a $480 billion dollar business. Walmart was an early adopter of the format in the west, which is projected to follow a similar growth trajectory in the U.S., with revenues expected to reach $25B next year.
This partnership and investment from Walmart may be the clearest sign that livestream shopping is not the future: it’s here and ready for mass consumption.
Where livestream shopping shows up matters as much as the message. What we know at Firework from our patterns across categories is that livestream shopping converts best when people are in the shopping mindset. 96% of all commerce transactions actually happen on intent-based commerce sites not social media, further providing proof that a brand’s own digital properties are essential and central in the shopper journey. Walmart is doing this in the right format, in the right place (on their own digital properties) and we see this as the proven formula for highest engagement and conversions.
Firework is A Premiere Livestream Shopping Partner
We are honored to be one of the few companies Walmart selected as an Innovation Partner. The world’s largest retailer chose Firework to power livestreams for four of the world’s largest CPG marketers. That’s testament to the fact that our expertise is valued by the companies leading the way for all brands and retailers. Firework remains the largest video commerce solution provider in the world. We’re here to help inspire and empower brands and retailers of all sizes to leverage the powerful tools of shoppable and livestream video to unlock real connection and engagement with customers and in doing so, future proof their business.