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The era of Livestream sales.
This type of online sales expanding rapidly, but why?
The answer to this question, like many others these days, is the influence of the Coronavirus pandemic on everyday life and the need to quickly adapt to change. Retail stores closed to slow down the virus and that redirected more people online which in consequence resulted in companies investing in ecommerce.
But, for a company to simply be online won’t be enough simply because competition is growing and everyone is gradually starting to see that they need to be innovative and forward thinking if they want to sell more.
Up until now online shopping was mostly a simple experience where you browse the product catalogue, explore the products through photos and consumer reviews, you register on that website, and you buy. Unfortunately this way of shopping is becoming stale and boring for many shoppers and there is a need for a more entertaining experience to keep your audience glued to the screen. This and many other reasons are bringing these changes to the way we do online shopping.
New shopping experience.
What is Livestream shopping? Remember when you used to watch TV shopping shows and buying a product required you to pick up the phone or go online to place your order? Well, Livestreaming shopping is basically an internet version of TV shopping shows, you are able to watch it live online, interact with the host and buy on the spot. In some cases instantly.
By intertwining streaming videos, social media and celebrity hosts, influencers or local store owners, shopping and selling online is becoming a whole new experience. Customers are getting more product information than with traditional ads, sales are hosted by a person consumers already know, love and trust, who is also able to keep them engaged for hours which increases the chance to sell more products.
It’s sort of like you have your own personal shopper, only you never have to leave your house.
From a consumer point of view, shopping is made easier, fun and is creating an emotional connection by personal interaction they can’t otherwise get shopping online “the old way”.This in retrospective creates more revenue for the retailer as he is able to reach the consumer everywhere and at any time they choose to.
To emphasize how big of a deal it is, let’s just mention that on October 25, 2020 Shopify and TikTok announced a new global partnership.
“Today, we’re announcing a first-of-its-kind commerce partnership with TikTok that brings the world’s leading destination for short form video to Shopify’s more than one million merchants. With the TikTok channel for Shopify, merchants can take advantage of TikTok’s global scale to reach new and highly engaged audiences. “
So, who is benefiting from this system?
Everyone involved. The consumer now has a far better shopping experience which doesn’t require them to put too much effort in and is also being entertained at home. Influencers hosting the live sales are expanding their communities and making big earnings. Brands are gaining more awareness, small local businesses are able to reach more customers and retail companies are selling more than ever.
We think this new trend is going to have an enormous impact worldwide and everyone should get on board as soon as possible.
If you own an e-commerce business and want to reap the benefits, but don’t know where to start, here are some examples of how we advise and help our clients:
- Invest more effort in creating quality videos and photos for your products
- Concentrate more on publishing video post, Story, Reels and YouTube content, that actually sells
- Get involved and communicate with your fans through live streaming as often as possible
- Give your brand more personality by branding yourself. Appear in your videos to connect with your audience.
- Involve quality influencers who are relevant to your brand
- Create better and more appealing advertising campaigns
Interesting times for e-commerce are here and we are excited to see what happens next.
If you want to know more on the subject or how we can help you, get in touch with us by filling out the form below.
Denisa Vrančić, Project Manager @Iconis