Remember watching televised shopping networks like QVC or HSN? These popular home shopping channels featured product after product being advertised en masse to the public, available over the phone or via a given web address. As the various home shopping networks we’ve known and loved in the past have, for the most part, dissolved or evolved into updated versions of themselves, alternate modes of real-time shopping have taken over. Globally, the average time a person spends online is about seven hours a day, so it’s easy to see why livestream shopping has taken to the web!
What is livestream shopping now?
Livestream sales can be conducted in a few different places, including, but not limited to, social media platforms, auction apps and websites, and streaming services! Picture this: influencers, brands, or retailers broadcasting live video where they showcase products, answer questions in real-time, and give you a front-row seat to the latest trends. This is something businesses of all sizes can benefit from, especially those in the B2C sphere.
With the demand for expedited shopping experiences like Amazon on the rise, convenience is the name of the game for e-commerce in the 2020s. Consumers are looking to find, buy, and receive products in as little time as possible! Many livestreams are attached directly to a place where the audience can find the product, such as a link directly to your online store or a product base within the site or app itself. Livestream shopping is accessible on the screens we sit in front of for a good chunk of our daily lives, whether that screen is at your fingertips or sitting on your desk. Try-ons, tutorials, showcases, and more can be in the palm of the consumer’s hand. Access that easy to a quick shopping experience? That’s exactly what the buyer wants these days!
Livestream shopping allows the curious consumer to discover new products or learn more about one they’ve heard of without having to search them up on their own. On top of that, prospective customers can get a better idea of what they’re buying in terms of real-life looks, function, and size. If any questions or comments come up from the audience, the stream’s host can address these concerns immediately, reducing the need to reach out to a chatbot or go through the hassle of contacting a support line!
New prospective buyers can find your product easily through advertised streams, recommendations, direct searches, or even just scrolling through social media. Working dually as both a marketing and a sales tool, livestream shopping can work wonders for your sales, engagement, customer base, visibility, and your overall customer satisfaction.
What’s next?
Livestream shopping is anticipated to continue growing as a dominant trend in e-commerce, providing a more interactive and engaging shopping experience for consumers and fantastic new opportunities for brands, influencers, and retailers to connect with their target audiences. Technology will always be evolving and paving the way for further innovation in the way we conduct sales today! Livestream shopping is more than just a trend; it may be a vital part of the future of e-commerce. If you feel like there’s a chance of this benefitting your business, why not hop on board?
