The next big thing in retail is live streaming. Livestream shopping is a popular trend that allows people to watch you shop and buy things on websites like Facebook. The benefits are interactive, personalised, and modernised. Livestream also offers several other business-related benefits, including brand awareness and improved customer engagement.
People are going to continue to shop online in 2022. They will want to feel like they are a part of the experience, but they don’t want to wait for their items to come in the mail.
What is Livestream Shopping?
Livestream shopping refers to a relatively new trend in which consumers shop for products in real-time via video streams. These streams tend to be hosted on social media platforms like Facebook, Instagram and TikTok. Typically, the host uses the video feature to demonstrate products and encourage viewers to purchase them.
Livestreams can be anything from a makeup tutorial to unboxing new products, depending on what you are selling. It’s also a more professional way businesses can achieve continual sales and reach marketing goals. Some common types of Livestream shopping include direct sales (in which an individual hosts their sale) or showcasing new product releases.
What platforms are currently taking advantage of this feature?
There is no Livestream shopping platform. The top live-streaming apps that support this marketing trend include TikTok, Facebook, YouTube, and Instagram. For companies starting in Livestream shopping, these apps offer an excellent opportunity to reach new audiences. They comprise millions of users businesses can reach and engage with cost-effectively.
What platforms offer this and are most successful?
Platforms that are currently taking advantage of this feature the most are Facebook, Instagram, TikTok, and YouTube. These social networks have the most experience of live streaming products and services. They also provide easy ways for people to interact with each other in real-time.
Additionally, Apple’s Siri integration with e-commerce platforms like Shopify and Amazon has seen many customers make impulse buys on the two marketplaces.
What are the benefits? How can it improve your business?
Livestream shopping makes shopping more accessible and interactive for the customer, leading to many benefits. These benefits include:
The ability to look and touch:
Customers love this added level of interactivity, and it delivers a better shopping experience than traditional online shopping.
Livestreaming on different platforms can help you reach more people. But you need to choose the best platform for your target audience.
If you host a live streaming event, it will be more likely to be shared by many people due to the fun aspect of social media. This will result in higher brand awareness and increased sales opportunities.
Enhanced customer engagement:
This added element of interactivity will keep your audience more engaged as they are more likely to stay tuned and watch your entire Livestream.
The opportunity to sell on multiple platforms:
You can use Livestream shopping in different ways to sell products. You can use it for direct sales, social media marketing, or live events.
There are many business benefits to Livestream shopping. These include improved customer engagement and brand awareness. Using Livestream shopping as part of your marketing mix can be more effective. This includes using social media, direct sales and event management methods to get your product in front of potential buyers.
Why is it expected to be popular throughout 2022?
Livestream shopping isn’t new – the Chinese market has been doing things this way for years on shopping platform giants like Taobao. But the rest of the world plans to take a leaf out of China’s book and leverage social shopping to grow brands.
For example, Mediatel predicts social commerce will top $7 billion in the UK by 2023, nearly half of which will be through Livestream shopping.
And with large globally-recognised brands such as L’Oreal and Urban Decay promoting their products through live shopping, it makes sense that the new social commerce is here to stay.