Liveshopping has exploded in recent years, especially in B2C social commerce. But one company, FashionGo, has been pioneering liveshopping for B2B through shoppable video and video commerce. I recently spoke with Paul Lee, CEO of FashionGo, and Grace Ryu, Head of Business Development and Strategic Communications, about how they are using liveshopping to transform wholesale fashion.
About FashionGo
FashionGo is an online B2B marketplace for the wholesale fashion industry. They have over 3 million product listings across 12 categories like apparel, footwear, and beauty. The company was founded over 20 years ago to serve the fashion community in Los Angeles. In 2013, they were acquired by NHN Global, a large tech company in South Korea. This brought more innovation and technology expertise to enhance the platform.
The Power of Liveshopping for B2B
According to Paul and Grace, liveshopping is the next evolution for B2B platforms. It mimics the trends in B2C social commerce where seeing and engaging with products in real-time is highly effective. During the pandemic, many fashion retailers could no longer attend trade shows in person so liveshopping became crucial.
FashionGo now offers a studio where brands can showcase new arrivals via shoppable video and tell their stories directly to buyers. It brings the experience closer to an in-person runway show. Buyers can view products up close while simultaneously placing orders and asking questions via chat.
Optimizing the Data from Liveshopping
I asked whether liveshopping provides more data to optimize recommendations and improve conversion. Paul explained this is the next priority as they refine analytics for the live streams. It’s easy to track views and engagement, but mapping this to sales data is critical.
Grace added that brands on FashionGo focus more on sales and buyer acquisition than vanity metrics. She emphasized brands must research buyers’ preferences beforehand to personalize their presentation and showcase the right products.
The Future of Video Commerce in B2B
When asked about adoption trends, Paul believes more brands will embrace liveshopping as they see how effective it is. Those with fewer resources may find it harder to produce live streams initially. But the value is clear, so it will only grow in popularity going forward.
Key Takeaways
FashionGo is pioneering liveshopping for B2B fashion using their tech capabilities. Shoppable video helps buyers see and learn about new products. And brands can tell their story directly to potential customers. As they refine data analytics, it provides mutual benefits on both the supply and demand sides. This innovative model is likely to expand across other B2B marketplaces over time.
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