Live Shopping – The Future Trend of Ecommerce
It started when shoppers had to get in their cars or public transportation to a mall and browse store after store to shop, and then we started shopping from the comfort of our own homes while browsing the streets. websites on our computers, which has led to shopping direct to social media posts from our smart phones, and now we are witnessing the next step in the evolution of shopping – live shopping.
E-commerce coupled with live video streaming has created a live shopping experience. An interactive experience that features purchasable content and enables merchants to bring the in-store experience to life, simply online. Instead of potential customers having to read product descriptions and scour the internet for customer reviews, they can now participate in a live video broadcast and have real-time product conversations before purchasing directly. from the broadcast.
Direct shopping generated $ 60 billion in global sales in 2019, according to Coresight, and the United States was only less than a billion.
A mobile experience first
With more and more shoppers turning to their cellphones for everything from shopping and paying bills to taking photos and banking, it’s no wonder that online shopping is a big deal. tendency to watch. This new way of shopping online is primarily focused on mobile devices, lending itself well to current consumer behaviors. More than half of all Internet traffic purchases take place from a mobile device.
Mobile retail revenue via smartphones is expected to generate US $ 221.2 billion in sales in 2021 and is expected to exceed $ 400 billion by 2024.
This exclusive content provides clients with an interactive and engaging personal experience with brands, influencers and experts. And the fact that it’s live creates time sensitivity to get customers to act quickly.
Videos with integrated eCommerce allow consumers to shop instantly from brands without leaving the experience, providing the instant gratification that customers expect and want today.
Amplify the power of customer experiences
Live shopping is the closest we’ve been able to replicate to replicating the in-store shopping experience – providing direct contact with consumers who can ask questions and interact with sellers. Products are displayed in real-world settings, and people can even invite friends to join the same live stream so they can review and shop together virtually, providing a more authentic shopping experience.
90% of consumers say authenticity is important in deciding which brands they support.
The experience allows brands to display their products in unique ways, such as a fashion show, a QVC-like sales pitch, or a personal try-on experience at the mall.
âIt’s basically about digitizing QVC and HSN. It’s a huge opportunity, âsaid Deborah Weinswig, CEO of Coresight Research.
Connecting with the audience and having candid conversations in real time gives potential customers a greater sense of connection and less formality than writing in a contact form on a website or emailing customer service. with their questions or concerns.
Unlike video ads, live shopping creates an environment where buyers join by choice, and no advertising is imposed on them – no cookies or tracking involved – just potential customers virtually entering your live buying event because that their interest was piqued. Very similar to the in-person mall experience.
Videos allow brands to tell stories featuring their products and, as we know, storytelling sells – by boosting awareness, engagement and sales.
This latest e-commerce trend combines social media, the popularity of video and technological advancements to provide a very timely solution to consumers who are stuck at home in lockdowns and quarantines, and eagerly awaiting a human connection.
Whether people participate in live shopping events for entertainment, just to pass the time, or to enjoy a more interactive shopping experience, the current climate has accelerated the appeal of live shopping for online shoppers and physical.