Newegg Commerce Inc., a leading electronics retailer and No. 58 on the 2023 Digital Commerce 360 Top 1000, has seen tremendous success with its livestreaming program in less than two years. The company, which started livestreaming in October 2021, now broadcasts 150 hours of content per week and has spun off Newegg Media as a wholly owned subsidiary.

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The livestreams, which are broadcast from six active social media handles, feature 30 hosts demonstrating products. Viewers can watch the shows on social media and Newegg.com, and tap to buy the products the hosts feature.

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“We want to take the HSN, QVC tried-and-true business model and refresh it, give it a shot of energy and give it the Red Bull, and push it out to a new generation and see what we can do with it,” says Ben Tibbels, studio producer.

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The venture has been a success, with 26 million consumers viewing a livestream on Newegg.com from October 2021 through mid-May 2023, and its livestreams receiving on average 260,000 monthly viewers on TikTok. Plus, the venture is profitable, with millions in revenue attributed to livestreaming in just 2023 alone.

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“The growing pains are real. There is no a road map. No one has been doing this,” says Drew Roder, director of Newegg Media. “At this scale, it’s trial and error.”

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The success of Newegg’s livestreams is likely due to the company’s encouragement. Often, Newegg simulcasts the livestreams on TikTok, YouTube, Twitch, Twitter and Facebook, but the hosts will encourage viewers verbally to watch the streams on TikTok or YouTube. This helps keep the TikTok engagement active, which helps feed TikTok’s algorithm to boost the post’s visibility, Roder says.

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Sources: https://www.digitalcommerce360.com/2023/07/05/newegg-livestreams-more-than-24-hours-a-day/