NEWS
3
min read time
November 14, 2024

Reflections, Revelations, and the Road Ahead: A Personal Note from Sprii’s Founders

Reflections, Revelations, and the Road Ahead: A Personal Note from Sprii’s Founders

Sprii has had a groundbreaking year, expanding into the UK and Nordics, forging key partnerships, driving Live Shopping success for major brands, and solidifying its position as a leader in the rapidly growing Live Shopping and Video Commerce space across Europe.

Reflections, Revelations, and the Road Ahead: A Personal Note from Sprii’s Founders
Table of Contents

As we enter the most dynamic shopping season of the year, we’re thrilled to connect with our incredible customers and peers in the Retail and E-commerce industries. Over the past three years, Live Shopping has proven its transformative power, enabling brands and retailers to engage more customers, boost conversion rates, and lower acquisition costs.

2024 has been a landmark year for Sprii, filled with significant milestones in market expansion, thought leadership, and product innovation. Here's a closer look at our journey so far and what lies ahead.

Conquering New Markets

The UK
This year, we’ve made a significant leap into the UK market, establishing strategic partnerships with leading agencies like 1st Live Agency to offer local expertise for live show production. We’ve onboarded major brands like MandM and Highlight Crafts, showcasing Live Shopping as a key marketing strategy. Our UK success hasn’t gone unnoticed, with leading publications such as Fashion Network, The Retail Gazette, Retail Week, and even MSN highlighting how Sprii is revolutionizing the retail landscape

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The Nordics
In the Nordics, our growth story continues. We marked a significant milestone by signing several exciting brands and retailers in Norway, a success celebrated by premier outlets like Detail Watch. Netthandel.no spotlighted our customer Lekekassen, whose Live Shopping launch drove millions in sales within an hour. Meanwhile, Retailmagasinet featured how small fashion retailers like Mys by Mari are halving their return rates with Sprii’s solutions.

Read our article on how Lekekassen sold toys worth millions in under an hour!

In Sweden, our partnership with media giant Bonnier News is redefining how brands engage their audiences. Finland is also joining the momentum, with Let’s Go Live & LEGO delivering an exciting live show for Verkkokauppa.

Leading the Live Shopping Conversation

Live Shopping’s momentum continues to build, and Sprii is leading the charge. Our team has been invited to share insights at top conferences across Europe, including NXT’s “The Future of Technology in Retail” in Oslo, Emerce E-commerce Live! in Amsterdam, The MarTech Summit in London, and the Social Commerce Conference in Berlin.

Our network of experts extends beyond Sprii employees, encompassing influential voices in Social and Video Commerce. Want to learn more? Meet these 12 marketing pros reshaping the industry.

The Road Ahead

Live Shopping and Video Commerce are booming, and we’re excited to drive its growth across Europe. We’re currently working on our “State of Live Shopping” report, filled with key insights and trends for 2025 and beyond. Don’t miss our upcoming webinar early next year, where we’ll dive deep into these findings.

To our customers: we’re just getting started! Exciting innovations are on the horizon, including new ways to make all types of content shoppable. Stay tuned for more updates in the coming months!

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Whoa, Live shopping crushes E-commerce
Learn how they compareand discover the 12 key industry benchmarks.
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Sprii in Action

During a Live Shopping event, Sprii automatically replies to comments, creates orders for your customers, sends them a link to their basket, and handles payment and shipping.

5. Create hype & excitement during your events

The beauty of Live Shopping is that it can be used in so many ways. This is particularly valuable during Black Friday and Cyber Monday when businesses are looking to engage their viewers in as many ways as possible.

Here are 3 ways to create hype and get customers excited about your Black Friday events so you can achieve your revenue goals.

5. Create hype & excitement during your events

During Black Friday and Cyber Monday, potential customers often experience an intense pressure to participate in the shopping frenzy, driven by the fear that they will miss out on the best deals and discounts if they don't join in.

Live Shopping enables viewers to make purchases instantly while watching the stream, which can be especially effective during Black Friday and Cyber Monday when time-limited deals are available. This instant purchasing capability can drive sales during Live Shopping events.

With Live Shopping, consumers get the personal assistance of an in-store shopping experience and the convenience of being able to shop from the comfort of their own sofa or favorite coffee shop.

Viewers can get information from the retailer in real-time by asking questions directly in the Live Shopping event.

During a live show, viewers can ask questions and get answers in real-time. Even better, they can interact with each other and share their experiences with your products.

AspectTraditional E-Commerce JourneyLive Shopping Journey
Marketing ApproachHigh ad spend and several channels to attract shoppers to webshopLeveraging existing social media followers
NavigationRequires navigating through a static webshop to find products.Requires nothing more than watching a live video to discover new products.
Product PresentationProducts are presented through static images. Products are presented in a live video by engaging hosts.
Customer ExperienceFeels like a business transaction.Feels like a personal connection.
Engagement and InteractionLimited to static product descriptions, images, and occasional customer reviewsOffers real-time interaction between hosts and viewers, allowing for immediate Q&A, live demonstrations, and personalized recommendations
Customer ExperienceCustomers independently navigate the webshop and make purchase decisions without help.Customers are guided through products, receive helpful information, and can ask questions as well as see what others are writing and asking.
Conversion RatesRelies on well-designed websites and optimized marketing funnels to convert visitors into buyers.Often achieves higher conversion rates due to the sense of urgency and interactive nature of live events.
Customer Acquisition Cost (CAC)Higher CAC due to extensive marketing efforts across various channels.Typically lower CAC by leveraging social media followings and organic engagement during live events.
Return RatesHigher return rates due to customers not fully understanding the product before purchase.Lower return rates as live demonstrations provide a clearer understanding of the product, leading to more informed purchasing decisions.
Time to sellCan range from hours to weeks or even months. Often much quicker, ranging from minutes to hours.
Metric Traditional E-Commerce Live Shopping²
 Avg. Conversion Rate 2.5%³  Up to 60% (Sprii Data)
 Avg. View Time 54 seconds⁴ 20+ minutes (Sprii Data)
 Avg. Checkout Rate 45%⁵ 60% (Sprii Data)
 Avg. Return Rate 20-30%⁶ Under 10% (Sprii Data)
 Avg. Customer Acquisition Cost (CAC) +€50⁷ 0*
 Avg. Sales Cycle Hours, weeks, months Minutes