Live-shopping has taken Asia by storm, but two tech founders are bringing the trend to the Western markets with their startup, Tilt. Neil Shah and Abhi Thanendran, former Revolut employees, are leveraging their growth-hacking skills to transform the live shopping arena in the UK, backed by major investors.
The $18 million Series A funding round, led by Balderton Capital, speaks volumes about Tilt's potential. The company has already amassed over half a million users since its launch last year, focusing on live sales of fashion items.
Live e-commerce sales have seen tremendous growth due to the interactive nature of watching real-time selling, providing an authentic and engaging shopping experience. This trend is evident in China, where live-streamed e-commerce shopping is projected to reach $703.27 billion this year, with predictions that live-streamed shopping will account for 10-20% of all e-commerce by 2026.
While Asia leads the way in live shopping, the US and UK markets have been slower to adopt the trend. Companies like TikTok and Amazon are investing heavily to replicate the success of live shopping in China. Tilt's unique approach targets Gen Z consumers, offering real-time streams with in-store shopping feels, live auctions, and interactive events.
Thanendran and Shah's background at Revolut has equipped them with the expertise to rapidly iterate and deliver innovative features, setting Tilt apart from its competitors. The app's sticky features, such as live giveaways and auctions, keep users engaged and coming back for more.
With a focus on community engagement and user experience, Tilt has quickly gained traction in the UK market, outperforming larger players in Asia. Investors like Balderton Capital are excited to support Tilt's growth and innovation, recognizing its potential to revolutionize live shopping in the UK.
In conclusion, Tilt's success story highlights the growing trend of live shopping and its potential to reshape the e-commerce landscape. Consumers stand to benefit from more engaging and interactive shopping experiences, while investors have a promising opportunity to capitalize on this evolving market. Keep an eye on Tilt as they continue to disrupt and innovate in the live shopping arena.