Live shopping on the red carpet: A new trend to watch out for
Viewers tuning in to the 2024 MTV VMAs will have the unique opportunity to shop the outfits and designer looks they see in real-time during the show. This innovative feature is made possible through a partnership between Paramount Global, the parent company of MTV, and shoppable advertising company Shopsense AI. Utilizing Shopsense’s AI-powered lens, viewers can snap photos of their favorite looks on screen and explore similar options suggested by the product recognition algorithm.
This groundbreaking partnership not only benefits retailers looking to boost sales amidst shifting consumer spending habits but also provides legacy media companies with additional revenue streams. Every purchase made through the new shopping feature will contribute revenue back to Paramount, showcasing the potential for monetization in a rapidly changing media landscape.
Adopting generative AI tools like shoppable advertising has become a trend among advertisers and media companies seeking to enhance viewer engagement. By offering a range of price points for suggested outfit alternatives, the Shopsense software caters to impulse buys and immediate consumer desires. This format proves particularly effective for capturing viewer interest and driving engagement through exclusive deals and limited-time offers.
Live events like the VMAs attract a vast audience and significant advertising revenue, making them hotspots for brands looking to reach consumers. As the ad market continues to rebound from economic downturns, media companies are exploring new ways to capitalize on live content and optimize viewer interaction. Paramount’s integration of Shopsense’s technology promises a game-changing shopping experience for viewers, allowing seamless access to products featured during the event.
Shopsense’s collaboration with over 1,000 retailers, including Macy’s, Nordstrom, Urban Outfitters, and Revolve, presents a unique opportunity for brands to connect with consumers inspired by television content. Through curated collections and product recommendations, the platform enhances the online shopping experience and aims to drive sales by aligning products with thematic content. This strategic approach combines entertainment with retail, providing consumers with a seamless browsing experience and facilitating product research during television viewing.
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Emily Jensen, graduated from the London School of Economics and Political Science (LSE) in the UK in 2015 with a degree in Economics. She specializes in financial markets and international trade. After graduating, she worked as an analyst at an investment bank in London, where she developed expertise in global economic trends. She later transitioned into consulting, focusing on fintech ventures and providing insights into global economic developments. Emily is passionate about the intersection of finance and technology and aims to drive innovation in the financial sector.