If you have an online business that sells products, learning about live stream shopping is essential. Live shopping is the process of selling or purchasing items that are being presented live and in real-time.
Live shopping permits customers to shop for items that are being presented on screen while others watch from home. The use of live shopping platform solutions, as well as applications, can help connect customers with merchants from all around the world.
Typically, dedicated live shopping platforms are accessible on their own from an official website, or they utilize social media's streaming solutions to share information.
Live shopping apps and platforms ranging from traditional communities and digital phone apps to extensive brands take advantage of social platforms to the max. The use of live shopping events can help significantly in boosting brand visibility, awareness and, ultimately, sales.
For those who want to make money online, learning about live stream shopping is a must. Originally, live shopping began in East Asian countries earlier in the 2000s. The trend has since begun to catch on in the UK and the US, now becoming a massive market in the West.
To put the speed of how fast live shopping is evolving in perspective, there were 3.5 million buyers on TikTok using live shopping events in 2020. By 2021, that number skyrockets to more than a whopping 13.7 million shoppers.
Live shopping for eCommerce has many benefits for both sellers and customers alike. When hosting a live shopping event, take advantage of the ability to keep your viewers and prospective customers highly engaged.
Increased engagement and interaction with customers
If you are seeking a way to increase sales, you can do so with live videos and by showcasing products within live streams and on social media platforms of your choosing.
Using live shopping on social media and on eCommerce live shopping networks can significantly expand your reach and visibility, both online and off.
A live shopping event will also increase engagement when it comes to comments, feedback, and placing orders. Having the ability to connect and interact with an online shopping target audience is also one of the best ways to establish any new brand on the market, regardless of competition and niche.
Ability to showcase products in real-time
With the use of social media and online shopping, it's now easier than ever to showcase products in real-time. This will allow you to "strike while the iron is hot" when items are trending or products you are selling have just come onto the market.
Having a conversation with your target audience is also much easier and more effective when doing so via live shopping videos and chat.
Improved customer experience
Another reason to consider turning to social media apps to promote your business and its products is the overall improved customer experience you are delivering.
When customers feel as if they are being listened to and appreciated by the business they purchase from, they are likely to become repeat customers and to spread the word about your products to others.
By engaging and interacting with your attending audience, you will boost the loyalty you have from your customers. Additionally, using a live stream to connect with your target audience is also a way for you to gauge their needs and wants and to ask directly what they may need from your brand in the future.
Higher conversion rates
One of the most appealing aspects of using live shopping is the ability to increase conversion rates for sales. If you're stuck at a conversion rate that is less than impressive or acceptable, you may be considering alternative marketing tactics--such as live shopping events.
Live shopping is not only a method of connecting with those who have a genuine interest in your products and/or services, but it provides a unique look into the current demographics and markets you are targeting.
Using live shopping typically results in higher conversion rates, as those who are on the platform are already there with the intent of shopping and spending money. Using a live shopping platform that is dedicated to spreading the word about new businesses can also help you to get your brand off the ground if you find it difficult to do so with traditional marketing methods.