You’re probably all familiar with teleshopping channels such as QVC, which may seem outdated and unnecessary in today’s age of online shopping, quick commerce and other advancements we have seen in technology.
However, 2022 has seen these methods of shopping come back around. Well, sort of…
Live-stream shopping is really similar to teleshopping, however, it now takes place on some of the most popular social media platforms, or from brands’ own websites.
Live-stream shopping combines instant purchasing of products and audience participation through live chat functions or reaction buttons, and the introduction of this could be something that could help skyrocket your business and provide something your competitors arent yet doing. In China, live commerce has transformed the retail industry and established itself as a major sales channel in the last five years. In a 2020 survey, two-thirds of Chinese consumers said they had bought products via livestream in the past year. Whilst this has been a success in China, retailers and e-commerce businesses elsewhere are still behind China in the pursuit of live commerce.
So, could 2022 be the year we see live commerce take off globally?
Livestream e-commerce is the future of modern-day shopping and its predicted that in the near future, it will become an integral part of all digital commerce. If you’re looking to add a competitive edge to your e-commerce strategy, live stream shopping is definitely worth exploring.
One brand that has adopted live stream shopping into their businesses model is Snug Sofa, founded by Rob Bridgman, after his company became the first direct-to-consumer furniture brand to host a live online event in the UK. When discussing the event CEO Rob Bridgman says “Live selling on social media is the perfect channel to reach our core audience. It’s an opportunity to show off our fantastic sofas, highlight our quick delivery times, engage with our consumers and generate sales.”
Robert Bridgman went on to say the Instagram Live event, which was hosted by comedian Katherine Ryan, was watched by more than 12,000 people across the UK - proving just how popular live stream shopping could get, considering this was the first event for the company.
Blending entertainment with instant purchasing, live commerce offers retailers, brands, and digital platforms a new channel with enormous scope for creating value. So if you’re looking to create a competitive edge, stay on top of trends and give your consumers what they want, implementing live stream shopping could be the answer.
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