The burgeoning trend of live-streaming has taken Singapore by storm, with entrepreneurs like the charismatic Mr. Patrick Low (in picture above) capitalizing on its potential for sales. With casual attire, a T-shirt, and bermudas, Mr. Low captivates his audience with his charm and quick wit as soon as he goes live on his mobile phone.
During his streams, where he primarily promotes health supplements and skincare products like sunscreen mists, Mr. Low greets viewers personally and responds to comments with animated red hearts and thumbs-up symbols. Beyond merely pitching products, he views live streams as an opportunity to connect with each viewer personally, conducting sessions seven days a week.
Effortlessly switching between answering questions and highlighting product features, Mr. Low creates a laid-back environment that feels more like a friendly gathering than a shopping platform. He offers enticing deals like “buy one, get one free” and showcases essential products such as a heart of palm vegetable supplement to drive sales.
Viewers keen on purchasing products can easily do so by typing the product code in the comment section and making payments through payment systems like PayNow or bank transfers. To become a live-stream seller, one needs a mobile phone or a computer with a good internet connection, a platform like Facebook or TikTok, and a product to sell. It’s also important to comply with local laws and regulations regarding online selling. The potential to earn substantial revenues in a short period has made live-stream selling an attractive venture, attracting a diverse range of entrepreneurs, entertainers, and actors eager to capitalize on this trend.
By the 45-minute mark of one of his live streams, Mr. Low had garnered over 1,000 views, often making hundreds of orders totaling over $10,000 in a typical two-hour session. His growing success has led him to manage ten live-stream platforms daily, involve his family, and hire additional streamers to expand his reach.
Although not all live-stream sellers see the same level of success as Mr. Low, there are numerous examples of thriving sellers on social media platforms like Facebook and TikTok. The profound impact of live-stream shopping is evident in TikTok’s growth, with its TikTok Shop Singapore Live witnessing a fourfold increase in gross merchandise value from 2022 to 2023.
Market analysis anticipates a significant growth trajectory for the social commerce industry in Singapore. It projects a substantial increase in gross merchandise value from US$1.2 billion in 2023 to an estimated US$8.47 billion by 2029, underlining the immense potential of online live-stream shopping in Singapore’s retail landscape.
