Why Live Social Shopping is Bigger Than You Think

0:00Attention is the ultimate asset. These social platforms have the attention. We're gonna now shop in that environment. That's gonna affect media, that's gonna affect retail, and that's gonna affect the product service industry. There's no shot that Meta, TikTok, YouTube, Google, are not gonna be yelling and screaming about this. X will have this. This is too big, it's happened. This is the year, I mean next year, this is gonna be a huge topic for everybody who watches this program and you'll be talking about this. It really is QVC on social. Other than the way the algorithms work in social now, Now, when a person or a company goes live, they're going to find audiences.

0:36The algo is going to bring it to you. So obviously, QVC, home shopping, that were in the 80s. The consumer had to click and go there. The fact that I'm going to be in my feed and then boom, there's a live shopping event. And boom, the algo knows that I like T-shirts or vitamins or beauty and I get it. That's going to be a big factor. Can I just say, you're going to have to sell me on the live events because I already buy a lot of stuff on Instagram. where it's a pretty effective ad. It's flashy. It shows me how it works. The video makes me think, yeah, I want this. I don't know if I want somebody talking at me saying, hey, buy this product.

1:10You've got this much time to do that. Sell me on this. Why do I need something more than what's already selling me on Instagram? Well, I don't really want to sell you. It's been sold, meaning there are unbelievable amounts of people making over a million dollars a month already on TikTok live shopping. So it's not about, you know, convincing. It's about the conviction. Those are people. Those are vendors. Those are essentially companies selling. Influencers are making a million dollars a month. Yes. And yes. Right. So they have a product. Yes. As well to that. And hawking a product. Yes. That as well.

1:43This is look, this is going to be massive. But again, this is such a global platform. This has been going on for a decade in China. I've literally been. I've watched the stuff in China. I've literally been waiting for 10 years for this. Like there's videos of me in 2015 saying this is coming. It seems a little hokier than some of the flashy ads I already get that are really. I think you'll appreciate this. Some print. Let's talk about it historically. What you're talking about is a print ad. In essence, it just happens to be in social video. It usually shows me something about the product. That's video.

2:16So that's a commercial. Yeah. If it's an image, that's print. And all this is is QVC. It works. I can speak for myself. I have a Pokemon like brand called V friends. We're doing live social shopping. I'm doing seven hours, ironically, today about it. You're going to be on for seven hours? I'm going to be on from 12 to 7 today on Whatnot, which is one of the platforms that's emerging. And three Mondays ago, we sold$40 ,000 worth of t-shirts in two hours. Wow. That if I, and we're good at this, did my best social media non-live shopping advertising, we would have sold$3 ,000 worth. I'm convinced by numbers like that.

2:50We just did a shot from the mall for Ramis. I saw. Not a whole lot of people there. Is this why? Well, it's 7.30 in the morning. Honestly, I was back there. I was like, that's a solid amount of people. No, but we used to do it. I've been doing this for a long time. It used to be the openings at 6 a.m. At 7 a.m. At 8 a.m. Yeah, Target used to be insane. Break down the doors. Is there an investor play on this? Is there a way? This is changing retail, but is this taken away from Target? Does it take it away from Walmart? I'm glad you brought this up. The reason I'm so excited to be here is every retail, every CPG, this is going to be over For the next decade, a consumer packaged good.

3:25So if you're Procter, if you're PepsiCo, I mean, this is going to be a major deal. Because don't forget, we have major channel conflict wars between the packaged good companies and the retailers. And the Amazons and the Walmarts are taking media dollars now away from social. The overall impact to consumable products and to retail of this dynamic in social shopping. And now the social networks taking an 8 % rake on every transaction. I heard 6 % in some cases. Some, but 8 % and then a 3 % process fee. But again, this is also going to hit Main Street. If you're a normal store in a small town in Jersey or California on Wednesday at 3 p.m., there is nothing going on.

4:05To your point, the retail traffic is changing. The fact that you can turn your little boutique into a studio now and go live shopping. Entrepreneurs can do this, too. If you're a small business owner, you can get right out there. Ten years ago, I used to go on this program and others and talk about influencers are going to make money. and I got a little, huh. And now it's a multi-billion dollar economy. Does it undermine the big retailers? Does it undermine that? Yeah, I would argue that live social shopping is the only potential thing that Amazon should be worrying about in their domination. That's how big this could be.

4:38That's really amazing. And I guess who this is disrupting is traditional media who might have been pitching you these ads before. Yes, but it's also going to disrupt retail. Like this is another, don't forget, Attention ultimately is the ultimate asset. These social platforms have the attention. We're going to now shop in that environment. That's going to affect media. That's going to affect retail. And that's going to affect the product service industry. Do the social media companies make money on this? Yes. So this is good for Twitter and good for maybe some of these other companies. There's no shot in 2025.

5:09I can't wait to come back in 6 to 12 months when this happens. There's no shot that Meta, TikTok, YouTube, Google are not going to be yelling and screaming about this. X will have this. This is too big. It's happened. Who's the best at it so far? TikTok. And it's not. Tell us the name of an influencer or two that that you think have made a ton of money from this or leading this. You know, it's funny. And what do they do to be so in front? So what I'm paying attention to more is the brand. So Mary Ruth Organics is a brand that's really doing this. They're selling their vitamins. It's kind of a modern vitamin company.

5:44You saw, it was funny, I was talking to Mona and Dustin in the back, you showed the top three things that were selling, right? T-shirts, vitamins, and beauty. And I looked at them and said, all three categories that are crushing right now on live social shopping. Abercrombie and Fitch, I don't know if you're paying attention, that they're getting a reboot. And then there's also, I think you guys covered this on, I don't know if specifically you, but Chili's, the restaurant company. There was one TikTok, this is not live social shopping, this is just social. one tiktok that went viral that represented 40 of its q3 growth one tiktok that went viral it was a triple cheese quesadilla it wasn't even a limited time offer again mango gummies private label mango gummies from walgreens the ocean spray thing that was well covered i'm telling you to go but i have to make a point please is that one of the what do you call post-mortems on the election was that the Trump administration understood TikTok in a way that Biden, the Trump campaign in a way that Biden didn't.

6:41And I think what you're talking about now is investors need to understand it. The battleground on social will impact every single, every single stock on the market.