Live-stream shopping has been revolutionizing the way consumers shop, by making it possible for them to see and interact with items in store before purchasing.

The “Live-stream shopping is changing the face of retail” is a topic that has been on the rise for quite some time. The article will provide you with live-stream shopping examples and tips to help you in your future endeavors.

 

Digital customers are generating new expectations in customer experience, brand engagement, and buying with every swipe, touch, and toggle. With the rise of social media marketing and influencer strategy, as well as the need of consumers to feel connected, many merchants are turning to live-stream shopping as a solution.

Sushiman / istockphoto contributed to this image.

What is live-stream shopping, and how does it work?

guy_holding_cell_phone

In retail and marketing, live-stream shopping is a growing trend. This sort of buying takes use of social media’s connectedness, impulsivity, and loyalty, as well as the immediacy of live broadcasting. Live-stream purchasing, also known as live commerce, enables consumers to buy for things in real time while an influencer or streamer is speaking.

Purchasing through live-stream is more than just internet shopping. The user experience is significantly more dynamic than just tossing products into a shopping basket. Audience members engage with influencers and feel connected and motivated to spend as a result. Traditional marketing and promotion are less important in this eCommerce channel, with a greater emphasis on participation and community involvement.

pixelfit is the creator of this image.

Different types of live trade

Depositphotos_46160279_m-2015

Users may engage with live commerce in ways that go beyond the conventional virtual shopping cart. Here are three ways that businesses are providing their consumers with this high-tech shopping experience.

DepositPhotos.com is the source of this image.

1. Streams of influence

social_media_blogger

Businesses and shops have a unique chance to reach a large and diversified audience thanks to the widespread usage of social media. Companies are using the emergence of influencers and viral content to reach out to 72 percent of adults and 97 percent of teenagers who are engaged on at least one social media platform.

According to the Digital Marketing Institute, “influencer suggestions” are trusted by 49% of shoppers, and “86% of women utilize social media for purchase guidance.”

Businesses may boost their influencer campaigns and improve sales by providing live stream shopping platforms like Bambuser to their content creators and influencers. Followers and fans may purchase and add items to their carts during influencer broadcasts without having to leave the stream.

Deagreez/Istockphoto/Deagreez/Istockphoto/Deagreez/Istock

2. Live performances

conference_call

Using the same technology, several businesses are organizing live shopping events. Live events, like influencer broadcasts, are excellent for increasing brand exposure. They are, however, extremely advantageous for businesses that already have a strong brand. Live events are being held by major retailers to promote new items, ranges, and collaborations.

Adidas, Samsung, Nordstrom, and Tommy Hilfiger are among the companies and brands that utilize these events to preserve brand authority and communicate with 21st-century customers. Since 2020, Nordstrom has sponsored more than 50 virtual shopping events, and they want to keep the live commerce train rolling.

“How the client purchases from discovery to delivery has changed to become more digital,” a Nordstrom spokesman told YouNow when questioned about the trend toward live shopping events. And, as consumers become more connected and mobile, the epidemic has just hastened these shifts in behavior. Nordstrom Live Stream enables us to satisfy our customers’ ever-changing demands and expectations while also providing additional tools for our team to fulfill our mission to serve them wherever, whenever, and whatever they want to buy.”

Image courtesy of Chaay Tee on istockphoto.

3. Auctions that take place in real time

Screen_Shot_2018-12-16_at_11

For live-stream shopping, online auctions are ideal. The fast-paced auctioneer approach, as well as the consumer experience, are preserved in live-stream auctions. The difference is in how it is delivered; instead of having to go, individuals may engage from the comfort of their own homes. From 2016 to 2021, the market for streaming auctions grew at a rate of 13.3 percent each year, according to IBISWorld.

Live stream auctions have a wider audience than conventional in-person auctions, and they also give the privacy that collectors want when bidding on fine art, real estate, and novelty goods. A “seat” in the bidding room is typically restricted to a set number of participants, and tickets are occasionally offered for the event to maintain the exclusivity of top auctions.

Sotheby’s is the source of this image.

How is retail evolving as a result of live commerce?

Depositphotos_56034805_s-2019

Live-streamed events, virtual auctions, and influencers are changing the way people purchase across the globe. Over the last six years, China’s live commerce movement has expanded, and the United States isn’t far behind.

DepositPhotos.com is the source of this image.

In China, the influence of live commerce and live stream shopping

Depositphotos_6650825_s-2019

China has been a new paradigm for internet buying since 2016. Alibaba, the Chinese e-commerce behemoth, combined live-streaming with online buying to create a virtual space where users can interact with their favorite companies while also purchasing goods.

According to market research compiled by McKinsey & Company, “The value of China’s live-commerce market grew at a compound annual growth rate (CAGR) of more than 280 percent between 2017 and 2020, to reach an estimated $171 billion in 2020.” And Chinese live commerce sales are expected to reach $423 billion by 2022, according to the research.

DepositPhotos.com is the source of this image.

In the U.S. market, live streaming shopping is available.

iStock-1171684363

While some firms were early adopters of live stream shopping, live commerce in the United States gained traction during the COVID-19 epidemic. People were purchasing online in greater numbers than ever before, and many of them craved engagement and connection.

Live-stream shopping was the ideal option since it allows viewers to see new items while also allowing them to interact directly with salespeople and other customers. Live streaming are more dynamic and interesting than typical internet buying and talking with bots. Furthermore, they enable customers to purchase without having to leave the website or miss a beat during their live broadcast.

According to Forbes, “the U.S. live streaming industry is predicted to reach $11 billion by the end of 2021 and $25 billion by 2023,” citing statistics from Coresite Research.

While this figure is substantially lower than forecasts for the Chinese market, live-stream shopping is expected to become more popular over time. So, you’re not alone if you’re seeking for live stream events to locate your next present.

Related:

This article originally appeared on YouNow.com and was syndicated by MediaFeed.org.

stefanamer / istockphoto / stefanamer / istockphoto / stefanamer / istockphoto

MediaFeed has more.

iStock-1132036774

Deagreez / istockphoto / Deagreez / istockphoto / Deagreez / istockphoto /

AlertMe

The “livestream shopping statistics” will tell you the live-streaming industry is growing and changing the face of retail.

  • live stream shopping app
  • live streaming commerce
  • livestream shopping market size
  • live commerce usa
  • live stream shopping china
You May Also Like

Is Rakuten Really Worth it?

Knowing the answer to this question is the key to deciding if…

Should you really put your bonus into your retirement fund?

People who put their bonuses into retirement funds may be penny wise,…

Is inflation a good or bad thing for consumers?

Inflation is a gradual increase in the price level of goods and…

OfferUp vs Letgo (Everything you Need to Know + Bonus Tips to Make & Save Money)

Both OfferUp and Letgo are known as a “buy, sell and trade”…