7 Reasons Why You Need Live Shopping
4 Minute Read
Continuous advances in technology have penetrated the way that people go about their everyday lives.
This evolution has had a huge influence on our shopping habits. Consumerism has reached an all-time high, with more opportunity for individuals to express themselves than ever before.
As a result, the consumer is demanding more value. If people are investing in their own tastes and preferences, they want a tailored experience that resonates. We only need to look to the success of personalisation as proof of this growing demand.
Influencer marketing also adds weight to this. It shows that if people are purchasing, they want a little more validation than just a product page. As a result, it seems as if Live Shopping is the next hit to take over the eCommerce landscape.
Live Shopping is a way for the consumer to understand a lot more about what they are buying from a live streaming broadcast – but we’ll speak a little more about that later.
Added Consumer Value
As the ecommerce industry becomes increasingly saturated, it makes sense to craft a higher value service for customers.
Live Shopping allows your broadcaster invaluable interaction with potential buyers. Viewers are provided a better explanation of products and have the opportunity to ask questions in real-time.
The risk attached to purchasing is reduced, because the level of trust between brand and individual increases.
Power to the Consumer
One of the biggest benefits to arise out of today’s use of technology is the empowerment of the individual. We all have a platform to reach out to and be heard.
Online shopping can often be a frustrating process. We have all seen people publicly complaining on social media about a brand that they have been hard done by. Rightfully so, but these issues may never occur if the service is correct initially.
Live Shopping removes the barrier from typical online purchasing. It allows the consumer to clear up queries, feel valued and be a part of a group experience. Adding this value to the shopping experience will inevitably benefit the retailer also.
Live Shopping is Already Successful
The demand for Live Shopping is already being ridden in East Asia, with China already reaping the rewards.
Alibaba recently showcased a ‘see now, buy now’ Live Fashion Show, where viewers could purchase items as they saw them walked. The show produced a 32% increase in sales up from the previous year.
In the UK, Harvey Nichols have also tried similar experiences using the Hero App. Employees are on a live app where they can provide a personal shopper experience online. This is a far more individually-tailored experience, but the demand is there.
YouTube and IG TV
It is no secret that entertainment and the shopping experience is merging… We only need to look at YouTube over the past few years to see how much people like watching what other people buy. Thousands of online personalities have built up followings because of their ability to appeal to people’s tastes. You can find out a little more about that here.
It was recently reported that YouTube influence is 4x more effective than celebrity endorsement when spreading brand awareness. Could this be a sign that the ‘one-off-single-post’ method is losing credibility?
Live Shopping allows the buyer interaction, entertainment, valuable information – something that social media advertising can’t always ensure.
Facebook are having a go
Facebook have been testing out a Live Shopping feature in Thailand. The idea is that retailers would stream on Facebook Live, to which people can screenshot items and proceed to set up payment through messenger.
The work that Facebook are putting in proves as evidence for a growing demand, but the retailer still experiences the barrier of a Facebook. Keeping customers on a separate platform to your site reduces conversion rates massively as it takes far longer to reach the basket.
Spotting a gap in the market to fill these unanswered questions, Shopcast is a new social shopping tool. Rather than removing guests from your site, Shopcast allows influencers and in-house experts to broadcast live from your website.
From a pop-up window in the corner of your screen, customer can watch, speak and shop alongside your broadcaster. Available for free on an entry level plan, you can discover more about Shopcast here.
Why not just QVC?
It may seem as if QVC is a memory of the past… but quite the contrary.
QVC has seemingly embraced the shift in consumer buying habits – taking to online streaming through their own site as well as Facebook.
It was reported in 2017 that the retailer retained 8.1 million customers in the US, with 50% of those sales generated from their online platform.
Although it has been suggested that QVC is a ‘old fashioned’ way to shop, the principles of interaction are still just as important today and will bleed into the future of ecommerce.
People value the opinion and influence of others.
Where is this going?
It may seem as if the eCommerce industry is moving fast. That’s because it is.
As people invest more time and preference into their consumption habits, it is only natural to demand better quality service.
Live Shopping provides options, interaction, engagement and value. We already have evidence that the market is growing, so it’s best to stay on top of the trend.
Remember to check out Shopcast. If you need anymore information, just get in touch.