Andrey Novikov is redefining online retail with the transformative power of live streaming in elevating brand sales and the inclination of European and CIS markets towards the Asian live commerce model.
The concept of live commerce conjures images of the American teleshopping era of the ’70s and ’80s. CIS live streams of 2019-2020, which once mirrored the format of teleshopping, morphed into something far more dynamic and engaging. A seismic shift occurred as industry giants like Ozon and AliExpress invested in live streaming. The long-winded broadcasts of yore gave way to snappy, TikTok-style clips that immediately grab the viewer’s attention, signaling a departure from the static, one-dimensional teleshopping of the past.
In the vibrant tapestry of digital marketing, live commerce emerges as a compelling narrative, weaving together technology, consumer engagement, and the visionary acumen of individuals like Andrey Novikov. His journey, from launching a pioneering live video commerce platform in the CIS to shaping the essence of online shopping, is a testament to the transformative power of innovation in the digital age.
Beyond his technical acumen, Novikov’s journey into live commerce is fueled by a deep curiosity and a keen understanding of market nuances. His foray began in 2019, driven by a fascination with Asia’s burgeoning live sales market and a vision to bring this revolutionary tool to a broader audience. Recognizing the gap in the market for a ready-made live commerce solution, Novikov embarked on creating a service that has now become instrumental for e-commerce players seeking to harness the power of live streams — ShopStory.
This innovative tool has found its footing in the CIS and Europe and has proven exceptionally potent in the cosmetics industry, heralding a future brimming with potential and opportunities. Novikov’s vision and execution demonstrate that live commerce is not just an evolution of teleshopping but a revolutionary approach to modern consumer engagement and digital marketing.
“Unlike teleshopping of the past, today’s live shopping is more technologically advanced, interactive, and engaging for viewers. The tool has carved its niche in the CIS and Europe, proving especially effective in the cosmetics market, with significant growth potential still ahead,” Novikov says.
Live shopping is a technologically sophisticated, interactive, and viewer-centric avenue. Novikov’s innovative strategies extend to active audience engagement, advocating for regular, explicit demonstrations of using purchasing features, a method proven to boost conversions dramatically. His extensive analysis of over 3,000 streams on his platform has yielded invaluable data, offering a roadmap for successful live commerce strategies, from optimal product pricing to the ideal number of items featured in a stream.
Novikov’s platform, ShopStory, which serves titans like Samsung, L’Etoile, and Estee Lauder, stands at the forefront of this revolution. With live commerce set to redefine the shopping experience, Novikov sheds light on its evolution from the reminiscent teleshopping era to an interactive, technology-driven marketplace. This new shopping paradigm, significantly more advanced and engaging than its predecessor, is rapidly gaining traction in the European and CIS markets, especially in the thriving cosmetics sector.
The cornerstone of Novikov’s philosophy and ShopStory is a user-friendly interface, a crucial element that determines the success of a live stream. He meticulously analyzes the mechanics of successful international live sales, pointing out the necessity of intuitive features like pop-up tips, real-time interactions with streamers, and accessible product cards featuring a “buy now” button. His insights reveal that thoughtful interface design, considering the majority’s handedness and integrating interactive elements like likes, feedback, and exclusive offers, significantly elevates the consumer experience.
According to Novikov, the success of his platform is not solely attributed to technological innovation but also to an unwavering commitment to meeting client needs. This customer-centric approach has borne fruit: today, the platform boasts over 3 million active end-users each month, engaging with their product across various client platforms.
“My startup is the culmination of my entire professional experience in digital product development. In three years, it grew into the leading live commerce solution in the CIS market, enabling e-commerce stores to adopt this truly innovative direction. My team and I didn’t just develop the technology; we’ve always focused intensely on client needs,” Novikov comments.
Novikov also emphasizes the art of product presentation in live streams, highlighting the significance of a tech-savvy display where products glide across the screen, beckoning with detailed descriptions. His approach underlines the importance of spotlighting each product, ensuring that the streamer can draw attention to specific items, enhancing viewer engagement and understanding.
A Global Authority
The success of Novikov’s startup is a narrative of passion, foresight, and relentless innovation. It’s a journey that began with a spark of curiosity in the vibrant e-commerce landscapes of Asia and culminated in creating a leading live commerce solution in the CIS. The platform’s meteoric rise, fueled by strategic partnerships and an unwavering focus on client needs, resonates with over three million end-users monthly, marking a new era in digital shopping.
Today, Andrey Novikov is a distinguished figure, gaining international acclaim for his pioneering contributions to live commerce. In international forums, Novikov, a celebrated figure, shares the stage with industry giants from AliExpress and Ozon (a leading e-commerce platform often dubbed the “Amazon of Russia”), imparting wisdom on crafting the perfect live stream. Novikov’s expertise in crafting the ultimate live stream experience for consumers has guided brand managers and entrepreneurs worldwide.
As a venerated authority regularly consulted by the most influential voices in the industry, Novikov’s pioneering spirit and insightful strategies continue to shape the future of live commerce, promising a landscape where the synergy of technology, consumer interaction, and innovative sales tactics redefine the essence of online shopping.
Rapidly Evolving Landscape
The horizon of the video streaming market is not just expanding; it’s surging forward with an unwavering momentum. While streams have been recognized as a cornerstone of video marketing since 2020, their full potential still needs to be explored by many global enterprises. Despite the trend, many sellers have yet to pivot from traditional promotional videos to fully embracing streaming as a primary marketing medium. However, the numbers don’t lie: streaming is revolutionizing audience engagement and driving sales, marking an era where live commerce is not just emerging but thriving.
Analysts are bullish about the future, projecting a robust annual growth rate of 20.4% for the live commerce market. By 2027, it’s expected to balloon to $184.3 billion. This growth trajectory underscores a pivotal shift in e-commerce, signaling that the time for businesses to harness the power of live streaming is now.
“Live commerce — an underutilized tool for effective sales. The world of e-commerce and live streaming is dynamic, and it’s time to start leveraging this tool now,” Novikov emphasizes.
In this rapidly evolving landscape, Andrey Novikov and his platform, ShopStory, are poised to play a defining role. As a trailblazer in live commerce, Novikov’s visionary approach and innovative solutions have already set the stage for a new era in online retail. With his keen understanding of market dynamics and consumer behavior, Novikov’s platform is not just keeping pace with the industry; it’s driving its evolution.