Live Stream Shopping - The Hottest Trend

Do you know live stream shopping is one of the hottest trends which start during pandemic-scarred 2020? The retailers and brands stand this virtual approach to engage consumers. HSN team invented live video shopping on TV about 40 years ago, and presently QVC and HSN brands are one of the world’s largest video commerce platforms that reached 380 million homes.

In 2020, Live Stream shopping generated more than $60 billion approx in global sales. China is dominating this market. According to the report of the Cyberspace Administration of China, a large number of Chinese internet users have bought products live.

WHAT IS LIVE STREAM SHOPPING?

Traditional, physical retailers are very good at customer service. They focus on the specific needs of a consumer and answering their questions.  And they provide bespoke recommendations until browsers are ready to buy. On the other hand, e-commerce stores are boon. They have no limit to the number of people they can serve at one time, and the people can be anywhere in the world but if they have an internet connection they can shop anytime.

Live-Stream shopping is the combination of two, putting digital retailers in front of the world’s online audience and allowing them to respond to customers on a one-on-one level. In Live-Stream shopping, a host showcases the products, which you can purchase during the broadcast.

Live-Stream shopping improves the traditional home shopping experience in big ways. It is far more interactive. Home shopping channels allow viewers to call, whereas live-stream shopping enables the customer to interact through comments, likes, polls, and more. For example, anyone watching the live stream can ask the host about the product or request them to show it from all different angles. It Is More Convenient. You don’t need to be sitting in front of a TV screen to participate.

In the US, Live-Stream shopping is used mostly by small and direct-to-consumer brands. Celebrities like Catherine Zeta-Jones are satisfying their consumers with this service. She sells her makeup products via the talkshoplive platform. Live-Stream shopping is the best shopping option for almost all product categories. A Live-Stream shopping platform is used by more than 2500 retailers, which includes:

• Women’s Retail
• Direct Selling
• Sports Merchandise
• Home Decor

Live Stream Shopping Platforms - You Should Know About!

Live-Stream shopping first rose in China. They made a combined platform of e-commerce, payments, and Live-Streaming.  Outside China, many dedicated Live-Stream shopping platforms serving Western audiences. These are:

• Popshop Live: This is an iOS-specific platform. They allow sellers to host shows for audiences from their iPhones, they can use photos to upload purchase links, and also integrate them with inventory management software.
• Bambuser: It is a live streaming platform for journalists, used by the brands like H&M.
• Livescale: It is a live shopping app having a range of existing e-commerce platforms, including Shopify.
• NTWRK: This platform reportedly generated over $100,000 in revenue in just 26 hours by selling a $250 platinum money counter from Ben Baller a celebrity jeweler.

You will Surprise to know that the big tech companies are going to start the bet big on Live-Stream shopping, too. Amazon has already a streaming platform which is featuring daily shows on engaging topics like cooking, fitness, and makeup.

FACEBOOK INTRODUCES LIVE SHOPPING FRIDAYS

Facebook is trying to pin users on the Live-Stream shopping platform. The social media platform started Live Shopping Fridays. Well-known companies in the beauty and fashion hosting live shopping events. Each Friday, 3 brands will go live around a common theme: Glow Up, New Fashion Finds, and Self Care Spotlight.

Live Shopping Fridays provide an opportunity for the users to discover their latest and lovable products from their favorite brands and they can ask queries about size, fit, and tips with real-time experience.  This Live stream trend is not only profitable for shoppers but also for brands who will get a chance to build relationships with customers and streamline the sale-purchase process through convenient checkout.

CONCLUSION

Live-Stream shopping might be a hot e-commerce trend. Before going to dive into this technology, you should focus on researching your audience, building a community, and choosing the right products to promote on your Live-Stream, when to host it, which platform to use.

I will share my next post soon on “Tips for Hosting a Live Stream Shopping Session”.