What's 8% of $136 billion?
Commission on Verb's market place range from 8% to 12% on a sliding scale. More then $2000 sold is 8%. Items sold after the show is 5%.
May take a while to get to millions of sales, but this potentially can be the biggest revenue driver for the company.
talkshoplive is a flat 10.25% no matter how much you sell so Verb is less expensive and is interactive which TSL isn't. TSL just has a buy button at the bottom. Don't get me wrong TSL is nice, but Verb is going to be much better. Room in the market for a number of players just like China.
Unlike TSL, Verb Marketplace I believe will also drive sales of Verb Live
"November 11 in China is a national holiday called Singles Day. It’s somewhat analogous to our Black Friday. It’s when everyone buys presents for their unmarried friends, at least that’s my understanding of it. On November 11, 2019, Singles Day in China, one company, one person using a live stream e-commerce app sold $145 million of merchandise in one live stream. Twelve months later, Singles Day 2020, one person reached 37 million live viewers and sold $425 million of merchandise. Combined sales conducted through live streams that day alone were $75 billion. In 2020, 500 million people in China purchased products through an interactive live stream. More than $136 billion in products were sold just in 2020 alone through live stream e-commerce apps in China, and it’s just starting here now. VERB is way ahead of the curve. Adoption is just beginning. We have not yet hit that tipping point as they did in China after 12 to 30 months, but we believe it will be bigger here, and we intend to lead it."
"Now, I’d like to give you a preview of one of the newest products, one of the things coming this year that our entire team and partners are extremely excited about, an entirely new live stream e-commerce platform that we believe represents the next evolution of the live stream experience. We’ve tentatively called it Marketplace, and here’s why.
As we discussed, current live stream e-commerce technology contemplates attendees responding to an invite to a live stream event. But, imagine if your response to the invitation took you to an online destination where you could view not just one host’s live stream event, but scores of live-stream events hosted by scores of retailers, consumer brands and influencers, divided into categories, from fashion to cosmetics to home goods, even food and wine, where attendees can go in and out of numerous live streams, purchase products, interact with hosts, and even interact with other attendees. Like a virtual shopping mall, but way better, way cooler.
Now, suppose you saw an amazing item featured in one of the live streams you attended, but you, you know, just didn’t pull the trigger and buy it, and the next day wished you had. Well, you will be able to return to the website destination, to the Marketplace section, and there you will find every item featured in every live stream broadcast by every retailer. You can search for your item and purchase it, and even view a recording of the live stream broadcast in which your item was originally featured. That is where we believe this new live stream e-commerce category is going, and we intend to be there first.
While there is a subscription revenue component to reserving a channel or a time slot for a retailer, the majority of revenue to be derived from this new VERB vertical is from a percentage of sales generated during the live stream, as well as a percentage of sales generated through the Marketplace.
Marketplace is the internal name that we’ve used, but we’ll announce the brand name that we’ll use at launch. Marketplace is now built and we are actively beta testing with retailers. But, we’ve got more, much more, value-generating, game-changing products, that we’ll disclose as we get into active beta testing for them later in the year. I don’t want to announce them too soon. This represents one of the hyper-growth initiatives I discussed in our last earnings call, that I said I would reveal in 2021."
Commission on Verb's market place range from 8% to 12% on a sliding scale. More then $2000 sold is 8%. Items sold after the show is 5%.
May take a while to get to millions of sales, but this potentially can be the biggest revenue driver for the company.
talkshoplive is a flat 10.25% no matter how much you sell so Verb is less expensive and is interactive which TSL isn't. TSL just has a buy button at the bottom. Don't get me wrong TSL is nice, but Verb is going to be much better. Room in the market for a number of players just like China.
Unlike TSL, Verb Marketplace I believe will also drive sales of Verb Live
"November 11 in China is a national holiday called Singles Day. It’s somewhat analogous to our Black Friday. It’s when everyone buys presents for their unmarried friends, at least that’s my understanding of it. On November 11, 2019, Singles Day in China, one company, one person using a live stream e-commerce app sold $145 million of merchandise in one live stream. Twelve months later, Singles Day 2020, one person reached 37 million live viewers and sold $425 million of merchandise. Combined sales conducted through live streams that day alone were $75 billion. In 2020, 500 million people in China purchased products through an interactive live stream. More than $136 billion in products were sold just in 2020 alone through live stream e-commerce apps in China, and it’s just starting here now. VERB is way ahead of the curve. Adoption is just beginning. We have not yet hit that tipping point as they did in China after 12 to 30 months, but we believe it will be bigger here, and we intend to lead it."
"Now, I’d like to give you a preview of one of the newest products, one of the things coming this year that our entire team and partners are extremely excited about, an entirely new live stream e-commerce platform that we believe represents the next evolution of the live stream experience. We’ve tentatively called it Marketplace, and here’s why.
As we discussed, current live stream e-commerce technology contemplates attendees responding to an invite to a live stream event. But, imagine if your response to the invitation took you to an online destination where you could view not just one host’s live stream event, but scores of live-stream events hosted by scores of retailers, consumer brands and influencers, divided into categories, from fashion to cosmetics to home goods, even food and wine, where attendees can go in and out of numerous live streams, purchase products, interact with hosts, and even interact with other attendees. Like a virtual shopping mall, but way better, way cooler.
Now, suppose you saw an amazing item featured in one of the live streams you attended, but you, you know, just didn’t pull the trigger and buy it, and the next day wished you had. Well, you will be able to return to the website destination, to the Marketplace section, and there you will find every item featured in every live stream broadcast by every retailer. You can search for your item and purchase it, and even view a recording of the live stream broadcast in which your item was originally featured. That is where we believe this new live stream e-commerce category is going, and we intend to be there first.
While there is a subscription revenue component to reserving a channel or a time slot for a retailer, the majority of revenue to be derived from this new VERB vertical is from a percentage of sales generated during the live stream, as well as a percentage of sales generated through the Marketplace.
Marketplace is the internal name that we’ve used, but we’ll announce the brand name that we’ll use at launch. Marketplace is now built and we are actively beta testing with retailers. But, we’ve got more, much more, value-generating, game-changing products, that we’ll disclose as we get into active beta testing for them later in the year. I don’t want to announce them too soon. This represents one of the hyper-growth initiatives I discussed in our last earnings call, that I said I would reveal in 2021."
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