Best Buy livestreams holiday sales events

Best Buy is hosting its first livestreamed shopping events on the online home shopping network TalkShopLive as it seeks new ways to compete for consumer spending this holiday season.

During the video events at 7 p.m. Wednesday and Nov. 15, Best Buy virtual sales experts will discuss and demonstrate holiday gift options from some of the store's newest categories, such as beauty and wellness, e-transportation and outdoor living.

Launched this week, the series is being broadcast from the Bloomington location of the Richfield retailers' "virtual store."

Shoppers can ask questions through a chat function and make purchases throughout the broadcasts. Best Buy will also offer special promotions and prizes. To participate, shoppers can visit Best Buy's channel on TalkShopLive.

"We know more shoppers are taking advantage of live online shopping experiences, and we're always exploring new ways to give our customers more options to shop how, when and where they want," Jennie Weber, Best Buy's chief marketing officer, said in a statement.

"Our customers really want to stand out this holiday, and this is another fun way they can discover new tech, get expert advice and help finding the perfect gift."

In September, Best Buy premiered a new type of digital flash sale it called "Best Buy Drops." The retailer has also extended hours customers can connect with "virtual store" experts via video, audio and chat at BestBuy.com.

Best Buy and other major retailers this holiday face more-selective shoppers who likely will be more discerning with their dollars as they deal with such things as the resumption of student loan repayments, inflated grocery costs and higher housing and gas costs.

TalkShopLive features channels and shows from popular influencers and such celebrities as Jada Pinkett Smith and Reba McEntire, as well as retailers and brands, including Target and Walmart.

Live commerce is popular in China and is showing growth in the United States and Europe, though it still has a long way to go before it becomes mainstream. Clothing is the most popular live commerce category in this country with the majority of frequent shoppers who buy items during digital livestreams turning to the format for entertainment or for a way to try to find better prices, according to a July report by consulting firm McKinsey & Company.