As a result of the Live Stream Shopping phenomenon, consumers have the opportunity to buy in ‘real time’ while watching products being modeled by brands on Live Stream Shopping platforms. It is fast becoming an increasingly effective strategy in helping consumers and brands to increase penetration levels into the e-Commerce market as customers look for more realistic and engaging online shopping experiences.
Where it all began
Live video shopping, which started in China, is now extremely popular throughout Asia and the world. The Chinese markets have served as the ideal test markets for subsequent expansion due to the rise in worldwide acceptance. North America swiftly followed China’s lead and now it is taking off on European shores. Brands are witnessing enormous success with this phenomena. For instance: In one hour of Live Shopping Show L’Oréal saw three times higher sales than in one full day of e-Commerce activity, with an average engagement rate of 40%.
The advantages
One of the great benefits with Livestream Shopping is driving sales and conversion. By engaging consumers via livestream shows and real-time feedback loops, you can shorten their decision making process, leading to actual sales. Thus, shoppable links displayed during live shopping shows reduce purchase frictions. Furthermore, combining sales incentives in Live Shopping such as deals and discounts, time-limited offers or gifts means that even more customers will purchase during the live shopping show.
During the pandemic Live Shopping brought retailing and catwalks into consumers' homes and onto people’s smartphones and sofas as live shopping shows. Although it is a "virtual show", it adds a desired physical element to the buying experience for consumers, boosting sales and customer engagement.
Read More: Why Brands should consistently host Live Shopping Shows.
What does the future hold?
This growing trend currently belongs to a number of sectors such as apparel, fashion, beauty, fitness, consumer electronics, furnishing and food sectors, but there is increased interest from other sectors also. Looking at the success, Live Shopping will become much more ubiquitous and part of retailers’ e-Commerce strategy to the point at which it becomes as influential as online shopping is today.
How to get started?
By leveraging Channelize.io Live Shopping Platform you will be able to shift to a more interactive channel of communication with your consumers that will bring about a new experience. Shopping experience that will involve more personalization, empathy, and understanding ultimately leading to more sales, improved customer engagement and brand image.
Here are some of the benefits of our Platform:
Enables you to retain your brand experience fully
Offers improved and entertaining shopping experiences
Facilitates impulse buying for audiences without leaving the live experience
Works as an effective sales and marketing platform
Enables you to start for free and upgrade as you scale-up
Integrates easily with your existing ecommerce platform
Further with our new updates, you will be able to take your live shopping shows to a whole new level.
Read more: https://blog.channelize.io/how-live-selling-boosts-5-ecommerce-kpis/