With the constantly advancing technology, companies, brands, and various sellers have devised ways to interact with their customers remotely through live shopping. As technology advances, live video shopping became normal across most organizations and countries.
Live video shopping is gradually becoming what most businesses, sellers, and consumers have wished for years. It’s just been less than five years, and the world is striving to catch up excellently. To last longer and more efficiently in the industry, you should stick to the news for all the emerging live video shopping trends.
Let’s learn more about what is live video shopping:
How Does Live Video Shopping Work?
Live video shopping is slightly similar to live stream shopping but has additional features that enable buyers to make more personalized product decisions. The trend started in China between 2015 and 2016 and significantly contributed to the e-commerce industry.
Experts have ever since been making gradual transformations and improvements to living video shopping to suit the needs of different consumers. Navigating through live video shopping is quite easy. You just need to understand the three main components of live video shopping:
Platforms are the medium that offers live video features, a guideline on purchasing products, and online shopping (for some platforms). People can watch and discuss products on these platforms and decide whether to buy.
Thanks to video commerce technology, many live platforms are incorporating more innovative and creative features to deliver the best to their customers. The platforms are also improving with assorted products as the years year progress.
Many live video shopping platforms also own an integrated payment system for clients to make instant payments while on the sites, regardless of location. If you’re a business owner aspiring to go digital with live video shopping, there are plenty of platforms to choose from, depending on your consumer base and needs.
You cannot run a live video shopping platform without the products. Different businesses, sellers, and organizations have varied choices of products to sell via live video shopping platforms. You can be sure to get nearly everything on these platforms, from cosmetics, furniture, and groceries to utensils and other household items.
If you have a small customer base, you can start with a few products before moving to greater assortments. Many varied products best suit strongly established businesses that can bear the shipping and other delivery costs.
The host in live video shopping refers to someone who executes authority over the products, sharing crucial information and answering relevant questions. They are responsible for demonstrating how the product works and various operating methods (in the case of machinery).
Imagine if you saw an exciting video advertisement online and wished to know more about it, but there’s no one to engage. Heartbreaking, right? The host keeps customers active by interacting with them and being influenced by specific products throughout the live shopping session.
Importance of Live Video Shopping
Since its invention, live video shopping has been significantly beneficial to many people across the globe. Below are several benefits of live video shopping to both consumers and businesses:
Live Video Shopping Benefit #1: Brand Awareness
It creates brand awareness and differentiation as various businesses and sellers embrace varied ways of selling products.
Live Video Shopping Benefit #2: Brand Loyalty
It enhances customer brand loyalty, especially if a platform maintains top-notch engagement while adding more innovative features to its system.
Live Video Shopping Benefit #3: Engagement
Live video shopping has a greater engagement level compared to other e-commerce models.
Live Video Shopping Benefit #4: Ease of Use
With live video shopping, customers enjoy online and physical shopping experiences under one roof.
Live Video Shopping Benefit #5: Entertainment
Live video shopping brought back the fun of shopping, especially when the COVID-19 pandemic intensified, deterring people from freely navigating the malls and international shops.
Live Video Shopping Benefit #6: Information
The product description feature provides a better understanding of the products and achieves a better customer shopping experience.
Live Video Shopping Benefit #7: Quick Answers
Customers’ real-time questions can be addressed satisfactorily, helping them make more informed purchase decisions.
Live Video Shopping Benefit #8: Simplicity
Live video shopping has simplified everything from less time consumption and saving transport costs to the physical market.
Tips for Succeeding in Live Video Shopping
Although live video shopping has been made quite easy, there’s no guarantee that your business must succeed if you don’t embrace various tips and techniques, including:
- Adding your email to your platform’s profile.
- Partnership with celebrities and influencers to market your products.
- Using countdown timers to alert your existing and potential customers about incoming or almost out-of-stock products.
- Sharing live links to engage customers and increase sales.
- Hosting regular giveaways and other forms of gifting customers.
- Making use of promo codes to secure more sales.
- Anonymously ask your customers what features and products they wish you could add to the platform.
Also, try being active on your platforms. Sometimes, you might get occupied with other business issues, and that’s why you need an assistant host to engage customers on your behalf. A large business should have more than one host to serve the significant customer base and ensure no client goes unattended.