Why Live Shopping Is Disrupting Social Media Forever (And Why It Matters) | GaryVee CNBC Squawk Box

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Why Live Shopping Is Disrupting Social Media Forever (And Why It Matters) | GaryVee CNBC Squawk Box

Gary Vaynerchuk 06.01.2025 38 172 просмотров 878 лайков

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Today's video is a segment from CNBC's Squawk Box, where I talk about live social shopping, and how that's a massive opportunity for brands and individuals. I discuss how much is being made from selling on TikTok right now, the overall impact to shopping and stores, and what live shopping is going to be disrupting. Hope you enjoy! 00:00 — Adding shopping to the place where all the attention is 00:21 — What's a live shopping event? 1:26 — How much there is to be made selling on TikTok 3:23 — The overall impact to shopping and stores 4:45 — Who is this disrupting? #cnbc #socialshopping #socialmedia #shopping Did you miss my full social media marketing strategy In 8 minutes? Check it out here: https://garyvee.com/creative Check out my new book - Meet Me In The Middle https://garyvee.com/VFB — Thanks for watching! Join My Discord!: http://www.garyvee.com/discord Check out another series on my channel: Gary Vaynerchuk Keynote Speeches: http://www.garyvee.com/keynotespeeches Gary Vaynerchuk's thoughts on NFTs, Web3, cryptocurrencies and more: http://www.garyvee.com/web3nfts Life, Business, and Career Advice l Gary Vaynerchuk Original Films: http://www.garyvee.com/gvoriginals How to Make Money at Garage Sales l TrashTalk: http://www.garyvee.com/trashtalks Inside the Life of a $300M+ Company's CEO l DailyVee: http://www.garyvee.com/dailyvees — Gary Vaynerchuk is a serial entrepreneur and serves as the Chairman of VaynerX, the CEO of VaynerMedia, and the Creator & CEO of VeeFriends. Gary is considered one of the leading global minds on what's next in culture, business, and the internet. Known as "GaryVee," he is described as one of the most forward thinkers in business. He acutely recognizes trends and patterns early to help others understand how shifts in consumer attention impact the realities of the business world today. Gary's approach sits at the intersection of business and pop culture. He keenly understands how to bring brand relevance to the forefront. He is a prolific angel investor with early investments in companies like Facebook, Twitter, Tumblr, Venmo, Snapchat, Coinbase, and Uber. This year, Gary unveiled his seventh book, "Day Trading Attention" where he provides fresh insights into navigating the modern social media landscape. Gary's expertise guides readers on harnessing underpriced attention channels in the digital age. He emphasizes mastering storytelling in these arenas and highlights the "TikTokification of Social Media," where content relevance surpasses follower counts. Businesses can leverage this shift to enhance their brand and boost sales. "Day Trading Attention" equips readers with essential skills to succeed in today's dynamic digital world. Gary also announced his first children's picture book, based on his VeeFriends characters, titled "Meet Me in the Middle”. The picture book, which will prominently feature two VeeFriends characters, Eager Eagle and Patient Pig, delves into the emotional elements essential for nurturing children's empathy – a crucial skill for their future success. Gary is an entrepreneur at heart – he builds businesses. Today, he helps Fortune 1000 brands leverage consumer attention through his full-service advertising agency, VaynerMedia, which has offices in New York, Los Angeles, Toronto, Mexico City, London, Amsterdam, Sydney, Singapore, Tokyo, Bangkok, and Kuala Lumpur. VaynerMedia is part of the VaynerX holding company, which also includes Eva Nosidam Productions, Gallery Media Group, The Sasha Group, VaynerSpeakers, VaynerCommerce, and Tingley Lane Trading. Gary is the Co-Founder of VaynerSports, VCR Group, VaynerWatt, ArtOfficial, Resy, and Empathy Wines. He guided Resy and Empathy to successful exits -- which he later sold to American Express and Constellation Brands, respectively. He also owns a Major League Pickleball team called the 5s, is part owner of a Big3 basketball team, and is an investor in the revival of the SlamBall League. Gary is also the founder and creator of VeeCon – a contemporary super conference that converges business and pop culture with innovation and technology. In addition to running multiple businesses, Gary documents his daily life as a CEO through his social media channels, which have more than 44 million followers and garner over 300 million monthly impressions/views across all platforms. His podcast, "The GaryVee Audio Experience," ranks among the top podcasts globally. Gary serves on the board of MikMak, Bojangles Restaurants, Global Citizen Forum, and Pencils of Promise. He is also a longtime Well Member of charity: water. Gary's life ambition is to buy the New York Jets.

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Adding shopping to the place where all the attention is

attention is the ultimate asset these social platforms have the attention we're going to now shop in that environment that's going to affect media retail and that's going to affect the product service there's no shot that meta Tik Tok YouTube Google are not going to be yelling and screaming about this x will have this is too big it's happened so what's a live event is this different

What's a live shopping event?

than QVC shopping not really yeah I mean it's really you know when this is the year I mean next year this is going to be a huge topic for every everybody who watches this program and you'll be talking about this it really is QVC on social other than the way the algorithms work in Social now when a person or a company goes live they're going to find audiences the algo is going to bring it to you so obviously QVC home shopping that weor in ' 80s the consumer had a click and go there the fact that I'm going to be in my feed and then boom there's a live shopping event and boom the algo knows that I like t-shirts or vitamins or beauty and I get it that's going to be a big factor can I just say like I you're going to have to sell me on the Live Events because I already buy a lot of stuff on Instagram where it's a pretty effective ad it's flashy it shows me how it works the video makes me think yeah I want this I don't know if I want somebody talking at me saying hey buy this product you've got this much time to do you know sell me on this why do I need something more than what's already selling me on Instagram well I don't really want to sell you it's been sold meaning there

How much there is to be made selling on TikTok

are unbelievable amounts of people making over a million dollars a month already on Tik Tok live shopping so it's not about you know convincing it's about the conv those are those are vendors those are essentially companies selling influenc you're saying influencers are making a million dollars a month yes and yes right so they have a product uh yes as well to that and Hawking a product yes to that as well this is look this is going to be massive again this is such a global platform this has been going on for a decade in China I've literally been I've watched the stuff waiting for 10 years for this like there's videos of me in 2015 saying this is coming it seems a little H than some of the flashy ads I already get that are really I think you'll appreciate this some print look let's talk about it historically what you're talking about is a print ad in essence it just happens to be great because it usually shows me something about the product that that's video so that's a commercial if it's an image that's print and all this is QVC it works I can speak for myself I have a Pokemon like brand called vriends we're doing live social shopping I'm doing seven hours ironically today about it you're gonna be on for seven hours I'm going to be on from 12:00 to 7:00 today on whatnot which is one of the platforms that's emerging and three Mondays ago we sold $40,000 worth of t-shirts in 2 hours wow that if I and we're good at this did my best social media non-li shopping advertising we would have sold $3,000 okay well I'm I I'm convinced by numbers like that we just did a shot from the mall in I saw not a whole lot of people there is this why 7:30 in the morning honestly I was back there like no but we used to do like I've been doing for a long time it used to be the openings at 6: a. m. is there an investor play on this is there a way and this is changing retail but is this taken away from Target does it take it away from Walmart I'm glad you brought this up the

The overall impact to shopping and stores

reason I'm so excited to be here is every retail every cpg this is going to be over the next a consumer package good so if you're Proctor if you're PepsiCo I mean this is going to be a major deal because don't forget we have major Channel conflict Wars between the package good companies and the retailers and the Amazon's and the Walmarts are taking media dollars now away from social the overall impact to consumable products and to retail of this Dynamic and social shopping and now the social networks taking an 8% rake on every transaction I heard six in some cases but 8% and then a 3% process fee but again this is also going to hit Main Street if you're a normal store in a small town in Jersey or California on Wednesday at 300 p. m. there is nothing going on to your point the retail traffic is changing the fact that you can turn your little Boutique into a studio now and go live shopping entrepreneurial entrepreneurs can do this too if you're a small business owner you can get right out there 10 years ago I used to go on this program and others and talk about influencers going to make money and I got a little huh and now it's a multi-billion dollar economy under retailers does it undermine that yeah this I would argue that live social shopping is the only potential thing that Amazon should be working worrying about in their domination that's how big this could be that's really amazing and I guess the

Who is this disrupting?

the who this is disrupting is traditional media who might have been pitching you these ads before yes but it's also going to disrupt retail like this is another don't forget attention ultimately is the ultimate asset these social platforms have the attention we're going to now shop in that environment that's going to affect media retail and that's going to affect the product Serv do the social media companies make money on this yes so good for Twitter and good for maybe some of these other compan there's no shot in 2025 I can't wait to come back in 6 to 12 months when this happens there's no shot that meta Tik Tok YouTube Google are not going to be yelling and screaming about this x will have this is too big it's happened who's the best at it so are Tik Tok and it's not tell us the name of an influencer or two that you think have made a ton of money from this or are leading this you know what's funny and what do they do to be so in front so it what I'm paying attention to more is the brand so Mary Ruth Organics is a brand that's really doing this well they're selling their vitamins it's kind of a modern vitamin company you saw it was funny I was talking to Mona and DUS in the back you showed the top three things that were selling right t-shirts vitamins and beauty and I looked at them and said all three category ories that are crushing right now on live social shopping abomi and Fitch I don't know if you're paying attention that they're getting a reboot and then there's also I think you guys covered this on I don't know if specifically you but Chili's the restaurant company there was one Tik Tok this is not live social shopping this is just social one Tik Tok that went viral that represented 40% of its Q3 growth one Tik Tok that went viral it was a triple cheese quesadilla it wasn't even a limited time offer again mango gummies private label mango gummies from Walgreens the Ocean Spray thing that was well covered I'm tell we have to go but I have to make a point is that one of the what do you call post-mortems on the election yes was that the Trump Administration understood Tik Tok in the way the Biden the Trump campaign in a way that Biden didn't and I think what you're talking about now is investors need to understand it the Battleground on social will impact every single stock on the market don't

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