In the past few years, e-commerce has altered to grow exponentially with technological advancements. Live commerce is disrupting business models and this new advancement in technology is offering a huge possibility to enhance the way e-commerce companies run their businesses.
The age-old shopping experience of going to a brick-and-mortar store has its own perks of feeling the product before making a purchase, getting personal attention from the salesmen, and an opportunity to avail a discount during the bargain. Live Shopping is one such phenomenon that is replicating this in-store experience by helping buyers make a well-informed and satisfying decision.
Hence retailers are jumping on this trend to offer a similar experience that a customer would expect while purchasing a product in-store. Also from the seller’s point of view, live shopping helps in resolving the complexity of presenting and demonstrating products, real-time understanding of shopper’s preferences, offering improved product experiences, etc.
Let us first understand what is Live Shopping?
Live Commerce can be defined as a form of live video shopping that is engaging and takes place in real-time. This offers innovative ways for retailers to connect with their customers virtually.
During a live shopping show, you can collaborate with a host that can be an influencer, brand employee, celebrity, or brand ambassador. A host can put on different types of clothes, and viewers can interact with him/her in real-time. Viewers can ask questions like how the fabric looked and felt to them, and even request a host to demonstrate items with different sets of accessories.
Shoppers who view products in real-time showed a higher propensity to shop. This gives brands a reason to experiment more and more with live online shopping. Therefore, it has come out as a vital component of business strategy today.
How did Live Online Shopping start?
Livestream e-commerce began in China and quickly became a vital platform for shopping. This completely changed the way e-commerce was conducted over the years in china. Furthermore, due to the pandemic live online shopping has boomed and local e-commerce giants boosted revenues by partnering with the live streaming e-commerce platforms.
This success was witnessed when China celebrated its five-day national Labor Day Holiday. During this event, sales via live streaming e-commerce reached almost $140 million, an increase of over 400 percent from 2019.
The trend of live shopping is now reaping remarkable benefits for e-commerce brands in China. The reason behind this is that the concept behind live stream shopping is pretty familiar – live videos are an incredible means to sell and promote products in real-time.
Use cases of Live streaming Shopping
At present eCommerce, brands are leveraging live stream shopping to achieve the following use cases:
- How to use tutorials
- Influencer reviews and unboxing
- Product Launches
- Live interviews
- Live contests and giveaways
- Q&A sessions and much more.
Benefits of livestream e-commerce
Live online shopping is going global and there is no doubt about it. Businesses are struggling to understand how to integrate this tactic into their existing business strategy. Here are some of the benefits of a live video commerce streaming platform.
Richer Content and Engagement
Live shopping isn’t solely confined to streaming live video content. You can host interactive sessions such as live interviews, Q&A sessions, polls, and quizzes and even collaborate with influencers and industry experts. Hence this allows you to deliver richer content and boost the engagement of your live shopping show.
Today customers want an experience that is quick and immediately solves their concerns and Live video shopping offers customers that experience. Since everything happens live, live commerce empowers real-time engagement.
Shoppers can also ask brands to elaborate on their answers or ask follow-up questions. Since there is a faster exchange of information between buyers and sellers makes the whole shopping experience much more seamless.
Physical shopping shows are always limited by space but Live video shopping solves that problem, allowing as many audiences as you want in your live shopping show. Sometimes shoppers also can’t attend your show due to other commitments such as work or because they can’t travel for certain reasons or travel expenses. Covid-19 has further accelerated these issues. Hence the need of the hour is a solution that can virtually connect buyers and sellers and is accessible.
Live stream shopping platform allows brands to reach everyone, regardless of where they are and whether they can physically attend a live shopping show or not. With live commerce, you’re not bound by geographical distance or size of audiences.
More and more brands are leveraging video streaming shopping as a reliable way to reach their audiences, overcome physical limitations, and offer improved product experiences. Video commerce has evolved from a luxury to a norm for both buyers and shoppers and it will rule e-commerce in the future.
Channelize.io live stream shopping solution can be your one-stop solution to help your brand grow and generate sales.
Our solution is not just a great alternative to an in-person shopping experience but it will benefit brands to enhance their brand awareness and reach wider audiences.
For more, you can mail us [email protected]o.