Sprii invests in UK expansion to lead live shopping market

E-commerce platform Sprii has announced plans to expand its operations in the United Kingdom, allocating a significant portion of its global marketing budget for this venture.

Sprii, a tech platform enabling retailers to host live shopping events on social media, currently collaborates with over 2,500 businesses, predominantly in Nordic countries. As a major shareholder, Anders Holch Povlsen, owner of Topshop, aims to enhance its presence in the UK market.

The platform allows brands to stream shoppable video content across multiple destinations, including Facebook, Instagram, and their websites. This approach lets shoppers purchase directly from retailers, bypassing intermediaries such as TikTok Shop.

Corey Morris, Chief Marketing Officer of Sprii, expressed confidence in the expansion strategy: "We've committed nearly 50% of our total global marketing budget to the UK. This investment is being channelled into bespoke campaigns designed for British consumers, emphasising a localised approach that will resonate with the distinct shopping habits of UK audiences."

Morris further commented on the potential impact of live shopping technology: "We believe this emerging technology will reshape the retail landscape, boosting sales and driving deeper engagement. We're committed to leading that transformation and taking a significant share of the UK's live shopping market within the next two years."

According to Statista, the social commerce sector, including live shopping, is valued at approximately USD $700 billion globally. Major activity is currently in the Far East and the USA. McKinsey projects that live commerce could account for 20% of all online sales by 2026.

While Povlsen is not involved in Sprii's daily operations, he supports the company's strategic efforts as a shareholder. The Danish billionaire recently acquired a 75% stake in the Topshop and Topman brands through an investment firm linked to his Bestseller Group.

Sprii has already established relationships with over 100 independent UK retailers and continues to solidify its presence by forming more than two new partnerships per week. The company's UK-based team features Steve Hubbard, formerly the Managing Director of the Ideal World shopping channel, who now serves as a Non-Executive Director on Sprii's board.

Sprii's expansion into the UK signifies a strategic move to capitalise on the growing live shopping sector. By dedicating a significant portion of its global marketing budget to this venture, the company aims to connect with British consumers through localised campaigns. With established partnerships and a strong leadership team, Sprii aims to influence the retail landscape and enhance consumer engagement as it navigates this competitive market.