What Is Live Commerce & How it is Changing eCommerce?
This Covid-19 pandemic has forced people to stay inside and has made them dependent to purchase things online, therefore brands have been constantly making efforts to sustain themselves and stand out from the competitors. The Brands have come up with a new idea to connect with their customers by creating an in-store shopping experience via e-commerce live streaming. This trend has been quite popular since China started leveraging video commerce to generate revenues.
What Is Live Commerce?
Live Commerce first came up in the 90s. During a live stream a host would try on products or showcase products in front of viewers attending a live show. Then, viewers could ask about all the queries related to products and the host would clarify their doubts. This live stream experience is somewhat similar to the one we have during in store shopping where we do have a direct contact and interaction with the seller present at the store.
The e-commerce people realized the importance of live commerce for major 4 essential roles
- Customer engagement
- Help customers to understand products better
- Interaction between the seller and the buyer
- Boost sales
How did Live Stream Shopping gain popularity?
Debuted a long time back, live streaming did not achieve mainstream popularity until China started leveraging it for everything and anything.The Covid-19 pandemic further accelerated its adoption. This means that live shopping, as a popular medium, has only been around for a handful of years.
How can brands incorporate Live stream?
By hosting Product Launches and demonstrations
It becomes really difficult to connect with potential buyers while launching an absolute new product online. But launching via a live show automatically grabs a lot of attention from audiences and since it allows you to interact with your viewers, you can showcase your product, solve their doubts and this excites the viewers and it’s likely to increase the conversion rate.
Hosting Webinars
Webinars can be hosted for selling technical products. A live webinar permits you to organize an event wherein experts of products will discuss the advantages and technicalities related to products and also answers the possible solutions to queries viewers might just have in their minds related to a product and its usage.
Unboxing of Products
To elicit the interest about your product you should collaborate with influencers asking them to do a live unboxing video. As influencers have their followers hence audiences are more likely to trust them and will start trusting your brand too when you collaborate with them.
Product Reviews
People often rely on product reviews before they make their purchase decision. These reviews can become more powerful when known people review them that too in real-time. So you can ask an influencer to speak about a product or review it during a live show. The more trust you will be able build amongst your audience the more relationships you will build.
Importance Of Live Streaming For Online Brands
- You can advertise your products at a minimal cost with the help of live streaming as you are not supposed to invest in buying campaigns
- It helps you to connect more with your customers hence boosting a strong customer engagement
- By offering instant discounts and deals during a live show, brands are able to make more sales than ever
- You can also stream your live show simultaneously on other platforms like youtube which can help you target your a large number of audience
- Live commerce offers a complete space so that buyers and sellers can interact with each other in a seamless manner without any intermediate inbetween
Conclusion
Livestream e-commerce bridges the gap between you and your customers by offering them personalization, improved product experience, interactivity and convenience. Live commerce became popular instantly due to the COVID-19 pandemic and brands got enough time to experiment with Video commerce. Hence if you are planning to leverage this technology 2021 is the right time to get started.
Give your customers a reason to interact with your brand by hosting an entertaining, engaging and interactive session via live stream shopping. Channelize.io Live Streaming Commerce Solution can help you achieve your goals and sell live seamlessly.
You can have a walk through of our Live commerce solution and feel free to get in touch with us at [email protected] to discuss more.