What is live shopping?
Live shopping, also known as live commerce, live stream shopping, or live streaming selling, is the latest trend in e-commerce that combines the power of live streaming with the convenience of online shopping. It allows retailers to showcase their products to potential customers in real-time, while viewers can make purchases directly from the live stream.
How does live shopping work?
Live shopping involves using a streaming platform to broadcast live video content that features products for sale. The stream can be hosted on a variety of platforms, such as Facebook Live, Instagram Live, Twitch, or Stream Sage. The stream is typically accompanied by a shoppable overlay that displays product information, pricing, and a purchase button.
One of the biggest advantages of live shopping is the ability to engage with customers in real-time. Retailers can answer questions, demonstrate products, and provide in-depth product information that helps viewers make informed purchase decisions. This creates a personalized shopping experience that builds trust and loyalty with customers.
Why should you consider live commerce for your e-commerce store?
The benefits of live shopping are numerous. First and foremost, it's an incredibly effective marketing tool. In fact, according to a report by Coresight Research, the live shopping market is expected to reach $25 billion by 2023. That's a huge opportunity for e-commerce businesses to tap into a rapidly growing market.
But live shopping isn't just a passing trend. It's also a great way to build brand awareness and increase customer engagement. By providing a unique and interactive shopping experience, live shopping can help businesses stand out in a crowded e-commerce market.
Benefits of live shopping for customers
The live commerce experience is a blend of the physical and online shopping experiences. It brings the fun factor back to shopping, which is why it's so popular. You can see your product in real time, ask questions about it and get answers from experts on hand who know everything there is to know about what they are selling you.
This means that customers can get advice on how best to use their products or even recommendations on similar items they might want instead if this particular one doesn't suit them (or maybe even both!). They also get answers straight away without having to wait for an email response or call back later - which are two things people don't like doing!
The sensory experience improves product understanding because when someone picks up something physical they automatically start imagining themselves using it while holding it in their hands; this helps them make better decisions regarding whether or not something will work for them personally based upon past experiences rather than just reading about what others think online - which tends towards being biased towards negative reviews as opposed to positive ones since people tend not to bother writing good ones unless there's something wrong with them firstly anyway…
Real examples of successful live commerce
Let's take a look at some real-world examples of successful live shopping. H&M, the popular fashion retailer, used a live shopping stream to showcase its summer collection. The stream was hosted on Instagram Live and featured a shoppable overlay that allowed viewers to purchase items directly from the stream. The result? H&M saw a 4X increase in sales compared to a typical Instagram post.
Another great example is Sephora. The beauty retailer has been using live shopping to showcase new products and provide makeup tutorials. Their streams are hosted on their website and feature a shoppable overlay that allows viewers to purchase products while watching the stream. Sephora has seen a 3X increase in conversion rates compared to their regular website.
In conclusion, live shopping is a powerful tool for e-commerce businesses looking to increase customer engagement and drive sales. With the rapid growth of the live shopping market, now is the time to start incorporating it into your marketing strategy. By providing a unique and interactive shopping experience, you can stand out in a crowded e-commerce market and build brand awareness and loyalty. And with the availability of apps like Stream Sage, it's easier than ever to get started with live shopping on your e-commerce store. So what are you waiting for? Start exploring the exciting world of live shopping today and take your business to new heights!
If you have any questions about live streaming or want some help getting started, feel free to reach out at firstname.lastname@example.org. We can help you start a free live stream shopping experience within days!