“You can’t sell anything if you can’t tell anything”- Beth Comstock
A big trend we're starting to see is that of live video buying. People are becoming more accustomed to experiencing their wish list products through videos and live-streaming platforms, which means that they want the same level of satisfaction as with using the product in real-time. The modern consumer’s see-now-want-now mindset is driving the trend of live video shopping that we see sweeping across both e-commerce and online shopping platforms.
E-commerce and video live-streaming has created a brand new way for merchants to communicate and interact with their customers. Rather than having potential buyers read product descriptions and searching the internet for reviews, they can now join a video broadcast (or "live shoppable experience" as we like to call it) where the host can showcase products in person, talk about the various features with which consumers might not otherwise be familiar.
The good thing comes when the host test out alternative uses for this product as it gives him a sense of what other benefits it can bring. This allows the viewer to understand exactly how it feels to walk in this individual's shoes and he can imagine what it will be like when he gets the chance to make use of this item personally.
Why live shopping is taking off?
- Mobile-first experience: The fact that 90 per cent of the global internet population uses a mobile device to go online is the driving force behind video selling. As you scroll up the content on smartphones, people don’t have time to read the lengthy product description and explore the features. Videos are the ones that catch user interest. As more shoppers turn to their cellphones for everything from shopping, paying bills, and taking photos, to their banking — it’s no wonder that live shopping is a trend to keep an eye on. This new way to shop online is all about mobile devices, lending itself well to current consumer behaviours. The trend has yet to fully transform into the virtual world — but clearly, the number of brands using this medium will soon take off.
- Storytelling: Storytelling is one of the most popular ways to convey information online because it can create an emotional connection between the brand and viewers. When a consumer becomes personally invested in a story, they’re more likely to click on other relevant videos or products.
- Improves relationship with the audience: Due to poor user experiences, engagement rates via traditional e-commerce checkouts often drop. Developing a relationship with your customers, or at least making them feel connected to you, is no longer a given—it needs working. Live streaming technology has made personal connections with brands accessible to a wider audience. Lots of businesses have taken advantage of this opportunity to maximize exposure and revenue generation through live streaming!
- Real-time result: Live shopping gives e-commerce companies the ability to showcase their goods and allows consumers to buy products in real-time.
- Easy integration with popular website designing platforms: There are many SaaS-based live video-based selling platforms that have made life really easy. Many of these allow easy integration with popular eCommerce plugins like Woocommerce. According to the source, the current 2022 market share for WooCommerce is 29% of the top 1 million sites using e-commerce technologies which is really good. Brands using WooCommerce can now host Live Shopping Shows within their website and thus can gain not just from increased sales and enhanced brand perceptions, but also from the increment in engagement and buyer retention in their stores.
Thus, the canvas of online selling is greatly changed, and to cope with the changing time it has become greatly important to embrace digital transformation and adopt new methods of selling within your eCommerce setup.
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Content reference: A blog post from forbes.com