Sprii, a live shopping tech company, is set to expand into the UK, backed by Topshop’s new owners.
- Over half of Sprii’s marketing budget is dedicated to capturing the UK market.
- The company is actively engaging with major retailers on the British high street.
- Sprii’s strategy focuses on bespoke campaigns tailored to British shopping habits.
- Live shopping is predicted to significantly influence the global e-commerce landscape.
Sprii, a prominent player in the live shopping technology sector, has announced its strategic decision to extend its operations into the United Kingdom. Backed by the new owners of Topshop, the company has allocated more than 50% of its marketing resources to effectively penetrate the UK market. This move signifies a major commitment by Sprii to become a key player in the UK’s retail ecosystem, leveraging its technology to redefine consumer interaction and engagement in retail.
Currently, Sprii collaborates with approximately 100 retailers across the UK and is in negotiations with several prominent high street retailers for potential partnerships on its platform, as detailed by City AM. This step aligns with the broader industry trend where digital integration and enhanced consumer engagement are pivotal. Sprii’s Chief Marketing Officer, Corey Morris, highlighted that their investment is directed towards creating campaigns specifically designed for the British audience, which not only understand but also resonate with the unique shopping behaviours prevalent in the UK.
The live shopping phenomenon has gained immense traction globally, with platforms such as TikTok Shop and YouTube Shop becoming increasingly popular, particularly among Gen Z consumers. This shift in consumer behaviour is underscored by a survey conducted by Fiverr, which found over 50% of Gen Z are inclined to shop for Christmas gifts on TikTok Shop. Moreover, projections indicate that by 2026, live shopping will represent 20% of global e-commerce transactions, predominantly fuelled by burgeoning demand in markets such as China.
Sprii’s platform has its roots in the Nordic regions and distinguishes itself by enabling retailers to conduct live shopping events on social media. Unlike other platforms, Sprii facilitates direct transactions between retailers and consumers, effectively eliminating the intermediary. This model not only streamlines the purchasing process but also enhances the consumer experience. According to Sprii, a typical live shopping event holds customer interest for about 20 minutes, contrasting starkly with a mere 54 seconds on static web content.
Anders Holch Povlsen, a Danish billionaire and significant shareholder in Sprii, expanded his retail investments through Bestseller group’s acquisition of a 75% stake in Topshop, in collaboration with Asos. This venture into the UK market is indicative of Sprii’s commitment to harnessing local retail potential and technological integration to shape the future of shopping.
Sprii’s expansion into the UK marks a significant step in the evolution of live shopping, poised to transform consumer engagement on a broader scale.
