With a growing number of official sports Marketplaces like NBA, F1, NFL, and MLB, engaging fans and building a loyal community is more important than ever for sports teams, league content creators, and influencers. As traditional forms of interaction continue to evolve, one trend that’s gaining significant traction is live commerce.
Live commerce combines the power of live streaming with e-commerce, offering a seamless way to connect, engage, and monetize your fan base directly on your fan site.
It’s an area that some of our Marketplace partners are starting to actively explore. For example, sports retail giant Fanatics have recently launched ‘Fanatics Live’, a new division that focuses on live content-based commerce, starting with the Fanatics Collectibles business.
Live commerce is still a relatively untapped market in the U.S. According to Insider Intelligence, livestream commerce in China generated more than $300 billion in 2021 sales, approximately 12% of all e-commerce sales, and that is expected to approach 20% in this year. Whereas in the U.S., that percentage is less than 1%.
If that’s not a compelling enough reason to seriously consider incorporating live commerce capability into your Marketplace, here are three more:
1) Enhanced fan engagement and interaction
Fans are no longer just passive consumers; they’re active participants who seek meaningful connections with their favorite sports creators, teams and leagues. Live commerce takes engagement to the next level by enabling real-time interactions.
By hosting live streams on your Marketplace, you provide a direct channel for fans to ask questions, offer comments, and interact with you and other fans in real time. This fosters a sense of community and belonging, as fans engage with each other while sharing their thoughts and excitement.
2) Monetization opportunities beyond the ordinary
Monetizing your sports Marketplace is a common goal, but traditional methods like ads and merchandise can feel a bit old school. Live commerce introduces a novel approach to monetization by seamlessly integrating shopping capabilities within the live stream.
Just look at the global sports trading card market: it’s worth an estimated $44 billion, and it’s expected to be nearing $100 billion by 2027.
As you showcase products, merchandise, or exclusive content during your live stream, fans can make purchases directly from the stream. This taps into the psychology of impulse buying and capitalizes on the excitement generated during live interactions. The result is a dynamic revenue stream that not only benefits you but also offers fans a unique and engaging way to support you.
3) Interactive content experience
Live commerce doesn’t just facilitate transactions; it transforms content consumption into an interactive experience. Through live polls, contests, quizzes, and Q&A sessions, you create a two-way dialogue between you and your audience. Fans become active participants, contributing their opinions and insights, which in turn enriches the content and strengthens their connection to your sports Marketplace.
This interactive approach helps you gain valuable insights into your audience’s preferences and interests, enabling you to tailor future content and offerings accordingly. It also enhances the overall entertainment value of your fan site, making it a destination for immersive experiences.
Incorporating live commerce capability into your sports Marketplace is more than just a trend; it’s a strategic move that aligns with the evolving expectations of modern audiences.
