Introduction
Live commerce is revolutionizing the retail industry and changing the shopping habits of consumers for good. The concept of live commerce combines stream videos and eCommerce and allows online retail companies to reach one step closer to the in-person experience.
This article talks about the importance of e-commerce personalization and how shoppable videos enable companies to find innovative ways of offering their service during the ongoing COVID-19 pandemic and beyond.
Let’s get started.
The Importance Of eCommerce Personalization
E-Commerce personalization is a term that describes the process of delivering personalized experiences to customers on different e-commerce websites. eCommerce personalization is vital for those seeking to engage their shoppers and drive sales by increasing conversion as it allows them to show content on their website dynamically.
The importance of e-commerce personalization is highlighted by the fact that
- 80% of consumers are more likely to make a purchase when brands offer personalized experiences.
and - 44% of consumers will likely become repeat buyers after having a personalized shopping experience with a particular company.
While the statistics above show the importance of offering a personalized eCommerce experience to consumers, according to a survey on digital experience, 53% of companies lack the right technology to provide such experiences.
This shows the need for businesses to create a unique and engaging experience for their customers. One way to do it is by hosting shoppable video streams on their own websites, thus having total control over the customer journey.
Changing Dynamics Due To COVID
Shopping has always been a sensory experience. When evaluating what to buy, consumers tend to use their sight and touch. However, with the ongoing pandemic, business as usual is no longer a viable option, and as a result, more than 8,000 retail locations closed down in 2020.
The pandemic has changed the landscape of the retail industry. While buying online is convenient for consumers, retailers have struggled to create engagement on the platform.
This is where live commerce comes in and enables retailers to fully engage audiences by catering to their senses. Through dynamic content such as shoppable videos for eCommerce, retailers can create a highly interactive and personalized shopping experience for consumers.
How Live Commerce Is Reshaping eCommerce
Just like online shopping transformed retail, shoppable video is reshaping e-commerce. By enabling consumers to interact with the video content that lets them explore and purchase directly, it gives platforms an efficient way to sell products or services without going through the hassle of sharing links in the description, bios, or any other place that it might be visible.
Dynamic video content like live streaming has particularly helped D2C brands reach their final buyers. This is how shoppable videos benefit eCommerce brands:
- Enabling them to have a direct communication channel with their customers is essential, and live streaming provides them with uninterrupted access to such a channel.
- Live streaming has removed the middleman in the sales process. Thus, brands have been able to increase their margins.
- Enables them to provide a customized shopping experience that meets their customers’ expectations.
Have you tried Live Commerce for your eCommerce business
Streams.live helps bring your audience closer to your brand with live, shoppable videos that showcase your products and create a fun and engaging shopping experience. Connect with us, and gain access to a live commerce software that’s built for you and your community!
