Saks has planned a livestreaming holiday season
Saks has been building its livestreaming presence since the beginning of the year. Now, the luxury retailer is dressing it up for the holidays.
Saks, which has held 42 livestreaming events since February, will be hosting 12 shoppable online events on Saks Live between early November and the middle of December, according to Glossy. The events will be led by influencers and experts in the space.
The titles of livestream events, as reported on Fashion United, reveal a holiday-themed lineup:
- Festive Holiday Looks with Stylist Bettina Looney
- Holiday Gifting with La Mer
- Holiday Shopping with Nicky Hilton Rothschild and Stacey Bendet of Alice + Olivia
- Holiday Glam Beauty with Ash Walker
- Holiday Dressing Staples with Stylist Allison Bornstien
Livestream shopping began growing in popularity in the U.S. during the early days of the pandemic lockdown when an unprecedented portion of the population tried out e-commerce and a great number sought out new forms of at-home entertainment.
Livestreaming has taken off in the luxury space with brands like Rebecca Minkoff hosting events on major livestreaming platforms.
Analysts are bullish on the model’s continuing growth, even though customer adoption of livestream shopping in the U.S. has long lagged adoption in some parts of Asia.
A study by Coresight Research predicts that the U.S. livestream shopping market will be worth $25 billion by 2023, Yahoo! Finance reported. Numbers published by Facebook suggest that Millennials and Gen Zers will be the prime drivers of the model’s growth. Fifty-five percent of Gen Zers and 62 percent of Millennials say they would purchase something during a livestream event launching a new product.
Saks’ season of holiday-themed livestream events comes in the aftermath of owner Hudson’s Bay Company’s decision earlier this year to spin off its dot-com operations into a separate company called Saks, distinct from the longstanding brick-and-mortar luxury retail chain, Saks Fifth Avenue.
Despite the spinoff, Saks Fifth Avenue’s physical stores continue to fulfill omnichannel functions of the Saks.com website, such as BOPIS, exchanges, returns and alterations.
- Saks expands livestreaming platform Saks Live for holiday – Glossy
- Saks unveils holiday schedule for Saks Live – Fashion United
- Livestream shopping could be the future of retail – Yahoo Finance
- Is the pandemic pushing livestream shopping into the mainstream? – RetailWire
- Does Saks.com make sense as a separate business? – RetailWire
DISCUSSION QUESTIONS: Do you think Saks will drive significant holiday sales with its holiday-themed livestreaming events? Will livestreaming in the U.S. remain primarily for luxury goods or do you see it expanding to more of a mass audience?