Live video shopping or live shopping can be defined as the combination of live streaming and e-commerce helping brands to demonstrate their products to a live online audience. Live streaming commerce is all about direct interactions between retailers and buyers which gives you an opportunity to Improve your consumers shopping experience by providing authentic moments and creating a lasting relationship with your future buyers.
Live streaming for retail allows brands to deliver a powerful online experience that places their experts at the heart of digital touchpoints.During a livestream shopping show a digital dialogue can identify the customer needs and create a highly unique experience.
The increasing popularity of live shopping is due to the fact that it creates intimacy between buyers and ecommerce sellers which empower interactivity and engagement. Live streaming shopping is also a perfect blend of entertainment and informative sales.
For example, a clothing e-commerce company can host a live stream wherein a host could explain the colour and texture of a fabric in real-time. As a host can have the liberty to add fun elements to a stream like conducting polls or indulging in Q&A sessions etc, all this leads to more engagement.
Let us looks at some live video shopping stats before we move ahead:
- According to a survey, 40% of respondents highlighted customer experience as a top priority for digital transformation and hence brands are focusing on reinventing customer journeys via live video shopping.
- In 2016 Live streaming shopping market in China grew 180% which equated to around $3 billion in revenue.
- Kleiner Perkins reported that in 2016 live streaming for retail was the number one source of revenue per hour in China.
- The eCommerce industry will reach $5 trillion in revenue by 2023.
Livestream shopping has gradually become successful across various industries as there’s more product information than traditional ads, and it’s often coming from a host shoppers already know and trust. Livestream shopping shows can keep audiences hooked for tens of minutes, even hours, thus increasing the chance to sell them more. Live streaming commerce also adds an emotional connection to online shopping, which leads to brand loyalty and credibility. Although it started with China, Live Shopping in the USA is gradually gaining popularity.
Why is it vital to digitally transform your online customer experience?
Today it’s very important for brands to take a stance on a technology-led approach to deploy human-like online services. Consumers look for personalization, improved product experience and entertainment while shopping. Shoppers want to purchase products with trust. In a world where data usage is growing more ambiguous every day, retailers need to implement innovative trends to sell products effectively and efficiently.
Live online shopping can lead the way into the new era of online shopping, blending experiences to deliver an entirely new environment.
Benefits of Live Online Shopping
With a live streaming shopping platform your shoppers will witness an improved and realistic online shopping experience, and you’ll see a boost in sales and brand awareness.
- Your customers will spend more time on your store increasing the probability of more sales.
- Real-time element promotes excitement and exclusivity, attracting new customers.
- Live shopping will make you appear more relevant and lead to brand loyalty.
- Multistreaming your livestream shopping show on various platforms will lead to improved brand reach.
Live streaming commerce is more than live selling; it carries entertainment value as well. As people shift their shopping habits online, shoppers are looking for more than your standard in-store salesman. Live streaming offers new, exciting, and innovative ways for you to reach and build relationships with your clients. All this is making live shopping popular, especially live shopping in the USA.
Live Video Shopping Provider: Channelize.io
Channelize.io live shopping platform is one such platform that can help you get started with live streaming commerce immediately. Various brands across industries are leveraging our platform to achieve greater sales and retain customers.
Our services are end-to-end and customizable, with full flexibility for you to decide which features you require for your business.
As the marketing world evolves, Channelize.io livestream shopping platform can help businesses like yours reach their customers in new and exciting ways. While trends come and go, live online shopping is on the rise and is here to stay. Furthermore, with the continuing pandemic restrictions and norms live streaming for retail will continue to make a significant impact in today’s retail business.
You can get in touch with us at info@channeliz.io and get started!
