Livestream shopping app Whatnot accounted for over 11% of fashion resale brands in Q1 2023, up from 4% in Q1 2022. Whatnot, the social marketplace where sellers upload short videos of shoes, luxury handbags, thrifted clothes, and collectors items, is part of a growing ecosystem of livestream shopping. The livestream marketplace grew double digits since 2021. In Q1 2023 Whatnot’s GMV was 70% of fashion resale behemoth Poshmark’s GMV.
In-app live streaming essentially takes the most compelling parts of on-air shopping networks and makes them even more accessible and easy to buy. The livestream shopping trend began in China, where influencers began selling directly to their viewers. Currently TikTok, Poshmark, and eBay are testing livestream shopping in the US. All of which could challenge first-mover Whatnot.