Bambuser Establishes U.K. and U.S. Business Operations Following Remarkable First-year Momentum for Live Video Shopping Solution
Bambuser announces the establishment of Bambuser U.K. Ltd. and Bambuser U.S.A. Corp. following a successful year with its Live Video Shopping technology. The company's net sales surged by 669% in Q2 2020 compared to the previous year, driven by the digital transformation in retail amid the pandemic. With key partnerships with brands like Samsung and Moda Operandi, Bambuser recorded an impressive viewer engagement, with average watch times of 11.18 minutes during live shows. The expansion aims to enhance its market footprint as it prepares for the Q4 shopping season.
- Net sales increased by 669% year over year in Q2 2020.
- Live Video Shopping technology is the company's biggest growth driver.
- Strong partnerships with brands like Samsung and Moda Operandi.
- Average viewer engagement of 11.18 minutes during live shows.
- None.
LONDON, Sept. 29, 2020 /PRNewswire/ -- As brands and retailers increasingly seek innovative ways to engage with and convert digital audiences, interactive live video streaming provider Bambuser today revealed that, after just one year since launch of its flagship Live Video Shopping technology, the company is establishing Bambuser U.K. Ltd. and Bambuser U.S.A. Corp. in order to address the accelerated pace of adoption in the regions.
The expansion, which begins with the hire of Vice President of Sales César Bravo de Rueda Sandoval, closely follows the company's entry into the U.S. market, where recruitment efforts have accelerated. César, who is based in London, was most recently with Amazon, where he spent three years as Business Development and Partnerships Manager. Previously, he was with rewardStyle, where he served in numerous managerial roles. At Bambuser, he will be responsible for building and leading business development in the region.
Bambuser pioneered Live Video Shopping, already immensely popular in China, for audiences in the West, and in one year, the technology has become Bambuser's biggest growth driver. In Q2 2020 alone, catalyzed by the acceleration of digital transformation initiatives among retailers impacted by the Coronavirus pandemic, the company's net sales grew 669 percent year over year. To date, brands and retailers including Samsung, Moda Operandi, LUISAVIAROMA and many others have adopted Bambuser's technology to host live shopping experiences, proven to build customer connections while driving sales.
During the first half of 2020, an average viewer of a Bambuser-supported Live Video Shopping show watched for 11.18 minutes, and 12 percent added at least one item to their shopping cart. The average add-to-cart rate in the beauty segment, among Bambuser's top categories, is 36 percent across all active retailers.
Recently, Bambuser has gained traction with retailers in the consumer electronics category. In addition to Swedish electronics chain Kjell & Company, which is leveraging Bambuser's one-to-one streaming technology to bring online shoppers the knowledge and expertise of in-store professionals, Samsung Nordics also engaged the company to power a campaign in partnership with influencer agency Relatable. The live streamed show was a resounding success, yielding 15,000+ interactions and a conversion rate that more than doubled the company's benchmark.
"We're proud of all that we've accomplished in such a short time, and now that we have customers on six continents and are growing at a very high speed, it's important that we also expand our geographic footprint to maintain this momentum," stated Maryam Ghahremani, CEO of Bambuser. "Ultimately, we plan to continue this expansion, adding Bambuser offices in the top markets globally. We are very happy to welcome César onboard, and look forward to continuing this journey."
As businesses prepare for the Q4 shopping season that includes Singles Day, Black Friday and Cyber Monday, Bambuser is actively recruiting additional talent, and expects to have over 100 FTEs in Q4 2020, up from an average of 13 FTEs throughout 2019.
Contact information
Maryam Ghahremani, CEO | +46 8 400 160 02 | ir@bambuser.com or visit bambuser.com/ir
Bambuser is a software company specializing in interactive live video streaming. The Company's primary product, Live Video Shopping, is a cloud-based software solution that is used by customers such as global e-commerce and retail businesses to host live shopping experiences on websites, mobile apps and social media. Bambuser was founded in 2007 and has its headquarters in Stockholm. Erik Penser Bank AB is Bambuser's Certified Adviser.
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