You might be familiar with online shopping and in-store shopping, but have you ever heard of live video shopping? If you do not, you need to know as 84% of consumers report that a brand’s video made them purchase the product, and 96% of people watched a video to learn more about the product. The use of live video shopping empowers brands to nurture the buyer journey from awareness to final choice while eliminating the need to navigate away from their viewing platform.
There is a huge market for live video shopping and it has already made its way into the eCommerce landscape, so it is a big thing already. This is evidenced by the billion-dollar live video shopping industry in China. Infomercials have been incorporated into current marketing techniques to achieve this goal.
What is Live Video Shopping?
During a live video shopping demonstration, an online audience can see and interact with products in real-time. Essentially, it is an interactive product demonstration. Using online videos, chats, and other methods, sales representatives interact directly with customers. As a result, it is less likely that the brand’s image and settings will be altered, allowing the audience to be more confident in the brand.
Similar to physical retail, brands can form interpersonal relationships with customers. Live-stream shopping gives them the opportunity to immerse themselves without being hampered by time constraints. Through brands, consumers are also entertained and engaged, which increases sales and builds relationships. The popularity of live video shopping in e-commerce is increasing.
In live video shopping, also known as live commerce, live shopping, and live selling, the customer can make a purchase in real-time while a video presenting products is being viewed. Third-party platforms, such as social media, mobile apps, or a designated subdomain, can be used to host the event.
By using live video shopping, brands are not the only ones to benefit, but audiences are also entertained and engaged. Live video shopping is a great way to take eCommerce to the next level and help owners to grow.
Live video shopping: Is it the future of eCommerce?
Without knowing the likelihood of customers and their habits, it is impossible to predict the future of any business. Live video shopping could be considered the future of eCommerce and is likely to become the leader of the industry within the near future.
When it comes to live video shopping, China is at the top of the list. Second place is the US, worth $11 billion, which isn’t much, but it is predicted that it will double in just two years. Based on the research, these are the numbers that tell us why live video shopping could be the future of eCommerce.
Live Video Shopping: What Does it Entail?
Live video shopping can be incorporated in many ways depending on the platform. The first is live broadcasts with a common audience where they can see the product and make the purchase based on their likeliness.
Live video streaming gives people the opportunity to communicate with the shop representative, choose products and complete the checkout process. Customers and shop representatives can communicate and discuss products via one-to-one live video interaction.
Well, one-to-one video streaming is one of the best ways an eCommerce store can consider since they have direct customer contact. If you know your customers are interested in your brand or product, you can convince them to buy, and this can help you increase sales.
Customers can participate in live video streaming from any device they have and by clicking on the store’s link.
Having a brand representative join the live video stream is one of the best things you can do since they can easily and directly address any concerns of participants. Now, you know that every coin has two sides; you will get bad reviews from some participants, so you can block those users who act unscrupulously.
For the acknowledgement of product, participants will be provided with a link during live sessions. By clicking that link, users will have a better idea of the product since it includes all the information they need to know about it. Someone can easily find and get an idea about the product if they want to check its size, colour, or price, for example. A live thing is something every customer wants and that can be a smart move for any eCommerce store.
Every customer has this concern when they shop online; they want a platform that can allow them to complete their checkout in a short timeframe. With live video shopping, anyone can complete checkout with just one click. Ultimately, you do not need to leave the platform to purchase an item or product.
Review and editing
It is possible to record live video streaming and share it on different digital platforms such as your website, social media, and newsletter. You can also edit since it’s a live stream, so perhaps you noticed an issue during the session. That’s why later you can edit those portions and make them available to your audience. Well, live video shopping is just the best concept that every store owner would love to integrate and reap the rewards.
Who can benefit from Live Video Shopping?
Clearly, the first advantage any brand can gain is a reduction in advertising expenditures. Influencers and celebrities charge accordingly, so there are minimal costs. As a result, you will have a better sale and more people will purchase your product. It is not only cost-effective but also an effective way for brands to market their products and services.
Many influencers and celebrities have higher numbers of followers and reach when they go live. You might have noticed that when celebrities with millions of followers go live, thousands of people watch and do what they ask. As a result, your brand has a greater chance of reaching more people and enhancing brand awareness.
A brand can use live video in a more strategic way to forge emotional connections with customers. Whether you are launching a product or sharing a little idea, those videos will definitely be a part of your marketing strategy.
While live video shopping isn’t a new concept, it is the latest digital shopping trend that is sweeping the eCommerce market right now. As far as we can tell, this trend is here to stay.
Would you like to experience the benefits of live video shopping? M-Connect Media can help. We have in-house eCommerce consultants who possess in-depth knowledge of eCommerce trends and markets. Our latest eCommerce development and design services also help people to walk on the path of comfort and convenience. For more information, please contact us.