Undoubtedly, the marketplace has offered various ways to shop online, including livestream shopping. The idea to offer more options is a byproduct of COVID 19. Sales were affected, and businesses were declining. Hence, companies extended new ways to please their customers and to maintain their revenues. In store shopping had completely come to a halt, and taking such steps was the need of the hour.
Livestream shopping was practiced by renowned eCommerce platforms to gain relevance. Moreover, it completely changed the landscape for many companies that were struggling to make ends meet. It engaged their consumer base and quickly became a one stop solution to meet all marketing needs.
Before we discuss the benefits of livestream shopping, let’s delve deeper into what it truly means!
Table of contents
- What Is Livestream Shopping?
- Importance Of Livestream Shopping At Present
- Basic Components Of Livestream Shopping
- Benefits Of Livestream Shopping
- Trends In Livestream Shopping
- Is Livestream Shopping A Successful Tactic?
What Is Livestream Shopping?
Simply put, livestream shopping is when customers join a live video hosted by an eCommerce platform. It follows with the host explaining the idea behind a product or sale. They try it on or unpack the product if need be. The reviews and descriptions are given live so that customers can get an in depth view of the product. That, too, in real time. It’s the complete opposite of traditional shopping.
Gone are the days when people spared time and went to stores in order to try stuff on. All they do now is join the livestream to see what products a platform is offering. And honestly, what could be better than that? It is less time consuming and they get a good idea of what they are signing up for. Customers also save up on fuel by not making a trip to the store. Hence, livestream shopping is a win win!
Importance Of Livestream Shopping At Present
The importance of livestream shopping lies in the comfort it provides to the customers. It cancels out the hassle of actually planning and making trips to the store. The first livestream shopping experience was given in China. This is because most shoppers and ecommerce platforms are present there.
But a newer branch of livestream shopping is joining forces with celebrities to host these sessions. The reason to do this is to make the platform and the experience more trustworthy. Plus, it is a superb marketing strategy to nail many objectives at the same time. The concept involves giving a visual experience in real time. Livestream shopping sessions are a way to gain trust within a time frame. This boosts sales and is great for improving engagement too.
Basic Components Of Livestream Shopping
The main element needed for livestream shopping is to host the session on a renowned platform. Ecommerce platforms are always trying to gain visibility through different online channels. This is why they often opt for Facebook Live or Instagram Live to host livestream shopping sessions. Such online platforms enjoy a user community of billions. As a result, ecommerce platforms have a higher chance of expanding their reach during livestream shopping sessions.
Another popular way to make a livestream shopping experience successful is by joining hands with a recognized online personality or celebrity to host the session. Hype can also be built when ecommerce platforms collaborate with influential people to host their live videos. This is an excellent benefit of influencer marketing.
Users are inclined toward joining live sessions, but their expectations are enhanced when the video is associated with a popular online personality. Imagine that your favorite influencer is talking about products and trying them on in a live video. What could be more exciting? It is more about the trust this marketing tactic instills. And that makes the ecommerce platform more solid.
Range Of Products
The fashion industry has mainly impacted the concept of livestream shopping experiences. This is because clothing items dominate the retail market. The second line in the run is beauty and skincare products. These categories work extremely well for livestream sessions because of the range that is available.
Moreover, the whole process of unpacking the product, trying it on, letting viewers see how it looks, and then finally giving a review feels like a complete experience. It also shows how the platform is well equipped to handle all the products being tested. A proper range of products also piques customer interest, which is why they keep returning to livestream shopping so that the products do not get out of stock.
A typical livestream session would last for more than half an hour. The idea of stretching the video is to build a sense of excitement. Introductions to livestream shopping sessions are usually longer so that audiences can be pumped. Hosts usually describe what will happen in the video. It usually consists of talking about the product line-up. Then hosts unpack and review the products based on their preferences. There are breaks in between to remind viewers about the giveaways and contests that they can sign up for.
That also adds to the sense of urgency among customers. It is like there is always something more being offered besides joining the livestream shopping session. Longer videos also enjoy more viewership since viewers join and leave sessions according to their wishes. Some people join sessions repeatedly. This only boosts viewership, so taking the longer video route is always better.
Benefits Of Livestream Shopping
Many small businesses fail to understand that livestream shopping opens new doors for their brand to become visible. Posts and marketing will always remain part of the deal. But audiences are more likely to connect with content that satisfies them in real time. Hence, hosting livestream shopping sessions is an exemplary way to connect with audiences.
Audiences understand more about the brand’s vision, which makes their journey easier too. Naturally, hosts walk audiences through the reasoning behind choosing a specific route. That lays the foundation for viewers to connect with what the brand stands for. It has a long lasting effect on them. A successful livestream shopping video will always bring in more customers based on referrals. Moreover, audiences will fully endorse the brand too.
The entire point of hosting a livestream shopping session is to boost sales. Small businesses have also joined the club because people purchase products in real time. Companies also take things up a notch by putting limited time offers on the items shown, so there is an enhanced sense of urgency. A single session can acquire companies with more sales. That is in comparison to launching an entire campaign. Needless to say, fewer resources are used, and the entire process is more cost effective.
Hype is built a bit before hosting the session. Viewers are already eager to know what the platform will add to their shopping experience. It is more like a bidding war so that audiences feel that they must at least purchase one item. But if the session is hosted by an influencer, that enhances the possibility of everything being sold. That is because they advocate for the company and try items on for the viewers.
Engagement Rates Rise
Video content always has a higher chance to improve engagement rates. Even if people dislike certain content, they are prone to commenting on it. Good or bad, comments are a form of engagement. But live videos give an open platform to viewers so that they can ask questions from the hosts. Reactions are given and comments are posted.
This also enhances the session’s visibility. Viewers tend to discuss their views while the session is going on. Hosts need to answer them so that all their queries are sorted. Each comment or opinion means a lot. And as a result, it improves engagement rates. Hence, ecommerce platforms are now highly dependent on livestream shopping sessions.
Trends In Livestream Shopping
Following are some of the trending livestream shopping trends:
Livestream shopping comes with many popular trends being followed. These trends are practiced so that customers have a comfortable shopping experience. One of them is offering an omnichannel selling method. Viewers can watch the entire session. And then they can visit the store’s website and choose to purchase the products they want. But the catch is that they can pay through different payment methods.
What could be better than this? They get to watch an engaging session and participate in it. And then they are also given space to choose the payment method that suits their needs. This is an additional comfort because products displayed in live sessions are quickly sold out. Audiences can book them or instantly pay for them choosing their favorite method.
A lot of money and resources go into launching a product. Of course, this is a fool-proof marketing method. But it is not always cost effective. This is why livestream shopping is a one stop solution to launching a product. Companies can host a session based on launching a product. They can partner with an influencer to gain reach on a global scale. The session can be a success if the product is talked about in an in depth way.
Moreover, such a tactic has more impact because unpacking and reviewing are a part of the process. Viewers can see whether the product meets their needs. And finally, they can follow through with their purchase. Launching a product via livestream is an excellent way to gain popularity because it requires less time. Companies can also gain a fair view of how customers respond to the product.
Livestream Shopping Is Convenient
Yes, livestream shopping is a result of COVID. But it is a form of shopping that will always remain convenient. It focuses on customer comfort. Imagine one does not even have to step out of their homes to make a purchase. Moreover, they get to gain all information on products and can easily place an order in real time.
Audiences are super busy and have less time to spare for shopping trips. Also, everything has gone digital, so they opt for routes that are absolutely hassle-free. Whether it is makeup or clothes, if they get an adequate review, viewers are more likely to instantly make a purchase. Plus, they rank companies higher who host livestream shopping sessions regularly.
Is Livestream Shopping A Successful Tactic?
Without a doubt, livestream shopping is an all-in-one marketing tactic. For starters, companies just have to partner with influencers in order to hold their ground. And then host a livestream session so that viewers can learn about their vision and products. It is a stellar marketing technique that improves sales and engagement rates. Lastly, it is one that is here to stay!
Featured Image: AWD Digital