Consumers today are looking for shopping experiences that promote human connection and personalization. As a result of the epidemic, businesses have had to become more inventive in terms of providing relevant, meaningful interactions. As a result, Livestream shopping also known as Livestream ecommerce or Live Video Shopping became popular.
Instead of shopping in-store, more people are using their phones to get a taste of retail therapy. However, as the number of digital consumers grow, so do their expectations for engaging online experiences. Brands and retailers may surpass the traditional eCommerce experience by combining the most engaging aspects of live and shopping into a single platform with Live Video Shopping.
The fact that Livestream shopping allows brands to have direct contact and conversation with consumers in real-time is a major reason for its relative popularity and growth. And this begs the unavoidable question: Is Live Video Shopping generating new customer expectations and shaping an eCommerce future defined by rapid, highly social interactions?
Here, we’ll look at how brands looking for a connection with their customers are turning to Live Shopping, especially Live Shopping in the USA.
The trend of Live Shopping in the USA provides a new method for customers to connect with the e-commerce stores by enabling them to see their purchases as they are made, providing an additional level of authenticity.
Because of the ease that e-commerce provides, consumers are increasingly crowding to it. However, the commerce sector isn’t always able to recreate the fun and participatory elements of buying that brick-and-mortar stores provide. As a result, customers are increasingly turning to e-commerce brands that can combine the ease of online shopping with real-time live interaction, that is Live shopping.
Transitioning from the East to the Rest of the World
Although Live Video Shopping may seem to be a new trend, it was previously prevalent in China before the epidemic. In 2019, live streaming shopping was used by 37% of online buyers in China or 265 million individuals. Live Shopping Shows were watched by about 30% of the population, the majority of whom were Millennials and Gen Z. And sales via video streaming platforms are likely to rise much faster in the future years, with live streaming shopping estimated to account for 20% of eCommerce sales by 2022.
What Livestream Shopping’s Success Has Taught Brands
The live video shopping industry has been steadily increasing in demand since 2020, and it is projected to reach $184 billion by 2027. The United States contributed just $1 billion of the total worldwide revenues in 2019, which totalled $60 billion. However, as the epidemic prompts new online buying habits, American and worldwide retailers from a variety of industries—fashion, home, jewellery, cosmetics, and more—are beginning to realize the advantages of live stream shopping and are coming on board.
However, as the epidemic prompts new online buying habits, American and worldwide retailers from a variety of industries—fashion, home, jewellery, cosmetics, and more—are beginning to realize the advantages of live stream shopping and are coming on board.
The benefits of Live Commerce extend beyond its simplicity of use and accessibility. The development of this new purchasing format highlights important industry trends, ranging from the significance of social shopping to the role that inspiration and immediacy will play in the future of eCommerce.
Here’s what Brands have learnt from the recent surge in popularity of Livestream shopping:
There are many creative methods to increase trust and credibility for your brand.
The intrinsic gap created by eCommerce between brands and their consumers can never be fully eliminated. The nature of Livestream shopping, on the other hand, helps to bridge this gap. Having a person demonstrate your goods live humanizes your brand, encouraging viewers to relax and enjoy the experience as they would in person.
We no longer have to depend exclusively on consumer evaluations and pictures. Now is the time for brands to come up with fresh, engaging methods to provide a layer of authenticity and familiarity for customers. Having a live online shopping platform where consumers can ask questions and interact with brands increases the desirability and trustworthiness of products.
Because consumers may ask questions and receive answers at the moment, live online shopping minimizes friction. You may also ask consumers to make suggestions and share feedback in real-time as a brand.
The possibilities for this kind of interactive purchasing are endless: Consider announcing a new product drop during a live stream shopping show. You’d receive instant feedback from customers and recreate the thrill of going to the store with a close buddy to queue up for the newest product. Live Streaming shopping enables you to respond to the requirements of your consumers in real-time.
Shoppers want real connections and a feeling of belongingness
By offering personalization, you can acquire devoted long term customers who enjoy your live stream shopping shows. Customers connect to brands and experience a feeling of belonging that brands create by hosting live stream shopping shows.
Various Approaches to Livestream Shopping
Whether you produce content in-house with your top sales associates or include influencers and celebrities, you will most likely create an interesting shopping experience with a high engagement rate.
Where will live stream shopping platforms Take Us Next?
Livestream ecommerce values the human touch and thrives on immediate inspiration and engagement. From buying televisions to social shopping, the possibilities to combine community, inspiration, and immediacy are just getting started.
As eCommerce evolves, businesses that capitalize on this dynamic by allowing consumers to discover products in real-time will be well-positioned to thrive. You can easily achieve all this by integrating Channelize.io Live Shopping Platform into your apps or websites. Connect with us at info@channelize.io to serve your customers with the best live shopping experience.