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These two companies could make inroads in the $11 billion U.S. livestream shopping market

Published Thu, May 6 20212:31 PM EDT

Jessica Bursztynsky @jbursz

Whether it's selling shoes or handbags via livestream, Alibaba's TaoBao Live dominates the Chinese market. However, tech giants have a long way to go before finding similar success stateside, analysts say. Livestream shopping is a hybrid of at-home shopping and social media. Hosts, which can include influencers, showcase products on their streams, and shoppers can ask questions in real-time. Taobao Live, which launched in 2016 under e-commerce giant Alibaba, has become one of the key players in China's livestream shopping market. The service has generated about $61 billion in gross merchandise volume for the 12-month period ending on Dec. 31, 2020. Alibaba's Taobao also competes against Pinduoduo , Kuaishou and Douyin, the Chinese version of the TikTok app. However, livestream shopping has failed to catch on nearly as quickly in the U.S., where the market could be worth $11 billion, according to estimates from Coresight Research. That's up from $6 billion in 2020. Amazon and Facebook could be in a prime pos