In this new digitized environment, eCommerce stores of all sizes are under pressure to innovate to compete online. The race is on for brands to develop an eCommerce strategy that can help them rebuild customer engagement, retention, and brand credibility.
Live Shopping is one such trend that is taking the retail world by storm. It is the trend whereby retailers and brands show buyers products via a live video shopping platform. This enables them to see products in real-time and buy on the spot. Live shopping enables shoppers to get a detailed look at products, gain more information about their features and functionalities before making a purchase. Live video shopping offers in-person unique experiences to buyers and enables brands to stay ahead in the market.
Additionally, live shopping allows shoppers to connect with your products more efficiently and resolve their queries and concerns in real-time.
Why should retail businesses adopt live video shopping?
Shoppers today look for convenience, entertainment, and better product experiences. Selling products directly to them via a Livestream e-commerce platform is a powerful way to engage them better. It creates better loyalty, credibility, and is an effective tool to interact with your audience more often.
Consider going live with celebrities, industry experts, and influencers, this will help you grow your purpose. Amidst the pandemic, many brands have adopted live streaming shopping to showcase and sell products in order to boost the digital retail market.
Here are some of the reasons why now is the right time to leverage this trend of live video shopping.
Improved Product Experiences
Live video shopping enables brands to educate customers, guide them through different products or services on offer. Through this interaction, shoppers are able to be immersed in an experience they would similarly experience in physical retail. This offers them an improved experience leading to more sales for brands.
The notion of shoppertainment is a trick that helps shoppers develop a relationship with your products before they even buy. If people feel happy and relaxed they’re more likely to buy and remember your brand.
Furthermore, if a live shopping show demonstrating a product or promoting a product is entertaining, it will help give them a hint of what owning/using the product might be. This thrill alone might be a strong enough motivator for the majority of customers.
Interactivity is a big part of live video shopping as it raises your shopping ability to a whole new level. Imagine watching a makeup tutorial video and being able to place orders on makeup products while a live shopping show is rolling. This feels so real and replicates the in-store shopping experience.
This completely reinvents the concept of impulse buying from the marketer’s and retailer’s perspectives.
Increase Customer Loyalty
Apart from an increase in sales conversion and engagement rates, there is also an increase in customer loyalty. When a buyer’s experience with a brand is above their expectations, there is a clear correlation with brand loyalty.
Buyers are shown to return to brands that cater to their needs clearly, efficiently, and productively – which is what live commerce achieves.
No Back-and-Forth Navigation
One of the things that irritate shoppers is having to navigate back and forth between web pages in order to purchase products. This discourages a lot of buyers from acting on their impulses. With a Livestream shopping platform, you can offer your customers to buy from the same interface where a Livestream shopping show is running.
Majority of the retailers that leverage Livestream shopping claim that this trend gave them a positive return on ROI. Shoppers love live video shopping and they are much likely to remember the visual experience over time. Furthermore, If they don’t make a purchase today, maybe they come back tomorrow to join your live shopping show and purchase. Selling live in an unfiltered and non editable form shows you as a real and authentic brand, this attracts customers towards you.