Omnicom announced a partnership with shoppable video platform Firework, an interactive short form web story video platform.
The global advertising group is the first agency to form a strategic partnership with the shoppertainment platform, also known as live commerce.
However, the industry has been investing in retail capabilities. CHEP Network last monthe launched CHEP Commerce, a division specialisng in retail focused solutions to leverage data, creativity and commerce. Publicis last year acquired software as a service platform CitrusAd which helps retailers sell digital advertising to brands.
Firework's shoppable livestream combines purchases of a featured product and audience participation through a chat function or reaction buttons
Marketers can deliver more relevant consumer experiences, boost conversion and strengthen consumer relationships, building first-party data in a cookie-less world.
John Schorr, managing director, commerce for Omnicom Media Group North America: "Brands today are in a race with the market to build the best commerce value proposition, while at the same time racing against the clock to build direct relationships with customers that will not simply replace cookies, but actually be more effective.
“This agreement opens up a wide lead for Omnicom clients in these races, giving them technology that makes their websites and other owned destinations more shoppable, and helps them deliver the more personalised and relevant experiences that build stickiness.”
Firework CEO Vincent Yang: “As brands deal with concurrent seismic shifts in how they reach and engage with consumers, and how consumers buy their products, Omnicom and Firework will bring the full force of our combined strategic and technological expertise to turn these market-wide challenges into category-wide opportunities for Omnicom clients.”
Gartner’s 2021 CMO Spend Survey shows 26% of respondents focused on livestreaming retail as a priority, and twice that number are expecting it to become a priority in the next 12 to 18 months.
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