Enter the realm of Livestream shopping, where entertainment and e-commerce are synergized, allowing customers to buy in real-time while viewing a live shopping show. Live streaming shopping is already a significant industry in China, and experts predict that it will change shopping in the United States in the coming time. Live Shopping in the USA is projected to reach $25 billion by 2023, according to Research. In China, the value of Live Commerce is expected to reach $129 billion by 2021.
Consumers want to interact directly with brands and get quick answers to their questions, which they can’t do since they can’t buy as often in-store. Live stream shopping is a way to achieve this effortlessly.
Live Stream Shopping seems to be a sure-fire method to increase customer engagement, retention and product sales. This entertainment-meets-shopping combination seems to be profitable for brands as well as for shoppers.
Reduced returns are another possible benefit of live video shopping since customers have a better understanding of product details as they get the opportunity to ask questions and clear queries during a live shopping show.
Who’s Shopping
Gen Z and millennials make up the bulk of Livestream shopping customers. Live online shopping has a big effect on these young customers, and they prefer to buy via Live Video Shopping. This is an effective way for Gen Z and millennials customers to learn about the brand’s product offerings and learn about new product releases.
What are the Brand-Building Benefits of Live Stream Shopping?
Improved brand reach, better conversion rates, profitability, and audience engagement all benefit from live online shopping. With mobile accounting for more than half of all online purchasing traffic, the convenience that Channelize.io Live Shopping Platform can provide consumers in terms of being able to access products they want from anywhere cannot be overstated.
Shoppers can be a part of a live stream shopping show from anywhere, whether they’re on the move, taking a break, or snuggled up at home in quarantine. With live-stream shopping, shoppers can participate in an engaging experience rather than just filling up their shopping baskets.
While this kind of accessibility is critical for consumers, it is also critical for businesses seeking to grow their audience and increase their sales. At the end of the day, Livestream shopping enables businesses to give consumers more power by giving them choices while participating in an experiential activity that they couldn’t obtain anywhere else or in a conventional retail store.
Reduced returns are another possible benefit of live stream shopping for brands since consumers have a greater understanding of the product details and the opportunity to ask questions live.
According to analysts, it’s just a matter of time until live streaming shopping and social selling will take over the traditional shopping methods. Customers look to your brand for goods that will improve their confidence, keep them on-trend, make them look and feel better, and address particular issues. It implies that your brand will be present in their homes, as well as in their conversations with family and friends.
Understanding this enables your business to produce relevant Livestream content that allows the audience to have a stronger connection with the product and envision it on their dressing tables.
Recommendations:
- Unbox goods to illustrate texture, colours, and how to utilize them.
- Provide product how-tos to demonstrate the Before and After outcomes.
- Explain how the product is versatile: can it be used in many ways, how long does it last in various kinds of weather, how does it look from day to night, and so on.
- Show how the packaging makes it easy to transport in purses or luggage.
- Provide professional advice on how to match it with other items in your line.
Today’s consumers want brands that inspire them to feel comfortable in their skin rather than shame them into purchasing goods.
Future is…Live
Our world has become more online in the aftermath of the worldwide epidemic.
Livestream shopping, on the other hand, demonstrates that online encounters don’t have to be routine or disconnected. They also don’t need to completely replace their physical counterparts.
Live online shopping is a solution for new age brands and consumers. It’s a tool that forward-thinking brands can use to reach out to new audiences worldwide in an environment where innovation is encouraged.
