Onlive.site It is a Live Shopping software (SAAS) so that any brand with a digital presence can create its own audiovisual channel and put a face and a voice to its products and services. In this way, it makes the way in which they are offered more attractive, interactive and interesting.
Established in October 2020, it began its commercial activity last June and in just 3 months of commercial operation it is already selling in 5 countries in Europe and Latin America. Its client portfolio includes dozens of highly innovative digital firms in the fashion sector such as Green Corners, Jewelry such as David Locco, beauty and hairdressing such as mypelazo.com, others from the real estate sector such as Gilmar and even some large multinational brands from the automotive or consumer electronics sector such as LG Electronics, which are launching their Live Shopping channels.
Video is paramount
The creation of onlive.site It is motivated by the observation of two determining facts in the future of e-commerce:
- Video is king. In 2022, more than 80% of the content consumed on the internet will be video (Cisco). These videos are produced mainly by brands and users for broadcast through marketplaces or social networks and in both direct and prerecorded formats.
- The video sells and live even more. On the other hand, driven by the massive adoption of videoconferencing during COVID, a new real-time sales format on video called Live Shopping. It was Driven by the main marketplaces, it took off definitively in China where it already accounts for 13% of e-commerce while in the USA it does not stop growing.
Knowing this situation, Alfredo Ouro and his partner Liesner Acevedo wondered what average percentage of the content of an e-commerce is videos? The answer was overwhelming because the use of video on e-commerce websites is practically non-existent. It was then that they launched onlive.site and its mission: “It is essential that brands provide video shopping capabilities to their sites if they do not want to lose the sale of their direct channel to the e-commerce movements that are coming on social platforms and marketplace”, explains Alfredo Ouro .
SEED round: 3mm USD
The company has just closed its first round of investment phase seed (or “seed”) of USD 3mm. With the aim of boosting its growth and continuing product development. Among the investors who have participated are an international group of business angels and entrepreneurs such as David Nothacker, Julius Koehler and Nicolaus Schefenacker, co-founders of the German unicorn Sennder; executives from the digital industry such as Ángel Sáenz de Cenzano, General Director of Linkedin Spain and Portugal; or the early investment vehicle funds Onset Capital or Estinvest that have invested in some of the most promising companies on the international scene such as the British Uptime or the American Matrix Industries, Phantom Space or the Colombian Laika.
How does it help brands?
ORnlive.site is integrated into the store’s own website and enables it to sell on video in two new formats: collective sales “one to many” (television shopping show) or the private sales model “one to one” (personal shopper):
- The “one to many” (or live shopping) format is a live event for many viewers, where a presenter or Host presents the products or services. For their part, viewers are watching the show as if it were a television program. It has the great difference that they can buy any of the products presented. Thus, viewers and the “liveshopping host” will interact with each other through chat, likes, surveys, games, or even by inviting a viewer to participate in the show.
- Watch video Live streaming shopping – One to many to create sales and entertainment show in real time, as if it were a television channel of the brand and it is a format for larger audiences.
- “One to one” is ideal for products with high added value. That is, a washing machine, a car, electronics, a computer, a mattress, things that the other person may need on the other side to be able to close the sale and that the buyer has plenty of confidence to finish doing it. “It is difficult to buy certain things with a flat web without a person on the other side: how am I going to buy a diamond on a web? But if maybe I have a personal shopper, that is, someone who knows, and puts it under the camera, explains certain things to me, solves my doubts, I see the guarantees … well, I may buy it ”, defends Alfredo.
- Watch Video shopping one to one for sales of high value-added products and / or requiring additional demonstration or explanation.
“Basically what we want is to help brands to offer a shopping experience in video and live and in a completely immersive way. And we do that experience based on working on four parameters: ecommerce, entertainment, multimedia capabilities and real-time analytics. “
Founders
Alfredo Ouro (CEO) and Liesner Acevedo (CTO) are the founding partners. The former has a long professional life as a serial entrepreneur with startups and e-commerce products launched and awarded in high-tech environments such as San Francisco, London or Barcelona, with HallStreet and Time Out, among others. While Liesner Acevedo, Phd in Computer Science, is an expert in real time systems and data engineering. He has been the director of the Center for Computational Mathematics Studies in Havana and has been awarded multiple times by the Cuban Academy of Sciences.
Live Shopping, the future of e-commerce
Life shopping sweeps in China and in the United States and Europe does not stop growing. In August 2020, Tommy Hilfiger conducted its first official live shopping test. Thus, they reached more than 14 million viewers, and achieving the sale of 1,300 products in just two minutes.
Taobao Live is already one of Alibaba’s fastest growing areas, generating more than Rmb400bn ($ 62bn) in consumer spending during 2020, the Chinese e-commerce group reported. Similar models have taken off in Japan, South Korea, and Southeast Asia, where a smartphone is the first and only computing device for many consumers.
According Financial times, live video is already key in China’s largest e-commerce applications such as Taobao Live, JD.com, and Pinduoduo. Additionally, shopping is becoming an integral part of China’s most popular social video apps, Kuaishou and Douyin, the Chinese version of TikTok.
Although the United States and Europe are still waking up to live streaming shopping adoption, TikTok and Instagram are already on it. And the figures speak: 26 million Spaniards have bought online in 2021, 3 million more than in 2020. The number of businesses that use Live Shopping as a sales strategy has shot up 719% in the last year. More than 530 million people entered the LiveShopping world last year. It is the same as the population of the United States and Brazil together. Each person consumes more than 1000 minutes a week watching videos online. Six out of ten consumers shop online at least once a week.