Customer’s shopping habits have changed a lot in recent times, and this has been happening even before the COVID-19 hit the world. Even when the retail stores were open after the lockdown, people still preferred online shopping. This behavior change has boosted the growing e-commerce trend which gave rise to Live Commerce.
Live commerce – Where Shopping Meets Streaming
An amalgamation of e-commerce and live streaming is known as live commerce. Major inflation was seen during the lockdown recently as people were forced to stay inside their homes and brands wanted to sustain in the market and attract maximum customers towards their brands. This gave rise to Live Streaming Shopping which started with the fashion and beauty industry initially.
Today Live shopping is not only restricted to the fashion and beauty industry but has taken over all the sectors. Every individual retailer is trying to adopt live commerce to gain success.
Just with little innovation and creativity, even owners of small businesses can leverage live commerce to interact with their customers in real-time, which is very much similar to the in-store shopping experience. With the help of live online shopping, you can bring back the in-store shopping experience and foster interaction and engagement with customers. This also helps to build the customers’ trust for your brand, which helps to retain your customers. This kind of relationship of trust is often required for shopping online. It is especially important for first-time customers, who wish to make sure that whatever they buy is genuine and from where they buy turns out to be trustworthy.
Consider Influencers to win over customers
Both live streaming and e-commerce are no more considered new concepts in the marketplace. Still, the combination of two has created a totally new concept. This enables the brands new and exciting ways to communicate and interact with their customers in real-time such as influencers or celebrities talking to customers over a live stream.
Influencers often have their own set of followers who trust them blindly and this helps the brands to grab followers of these influencers they collaborate with. Influencer’s followers will also be a part of your live show and might just like a product when promoted by their favorite influencers. Hence collaborating with influencers or KOL can help you get more customers to your live stream show which can lead to more sales.
How is Live Commerce making online shopping effective?
- Live video commerce has made online shopping more engaging and interactive. Customers can ask their queries by commenting in the chatbox, and a host can answer all such queries in real-time. This makes the whole session more engaging and interactive. Therefore, live shopping is changing online shopping by making it more interactive.
- There are a lot of people who are impulsive buyers and are likely to purchase a new product instantly when launched. Brands offer huge discounts and various limited-time offers to customers over their live stream, which can excite viewers and lead to more sales.
- It has been observed that video content grabs more attention than the written content. Therefore whenever live streaming shopping takes place, it tends to grab more customers.
- Live stream shopping offers you an option to communicate and interact with customers in real-time. Thus, interaction helps to build the customers’ trust as they see the raw and unfiltered content. Online shopping usually lacks trust, but with live commerce, the barrier of trust is removed, and people now trust brands more and are likely to shop more online.
- Earlier while shopping online, when a customer wanted to seek an answer for a product-related query, a customer had to wait long but a live shopping solution can address a customer’s query instantly by answering them in real-time over the stream.
Live streaming e-commerce has simplified online shopping in many ways. Video commerce can help service providers and retailers to grab more traffic at a lower cost. A live shopping solution can attract more customers who are not aware of your brand or products.
Live commerce has brought so many changes in the online shopping business and only helps e-commerce businesses grow everyday. This helps brands boost revenue, increases product sales, and improves brand awareness. To have a positive change in your business model and to host a great live shopping show, you must look for a proper live shopping solution. If you choose Channelize.io live shopping solution platform, we will help you build a live commerce solution according to your feasibility and needs.
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