Live Stream Shopping – A little background
To understand why Live Stream Shopping is going to become the future of ecommerce business first we must understand the Concept.
Live Stream shopping stands at the intersection of multiple mega-trends such as:
Streaming, social, mobile, influencers as well as eCommerce.
You can think about it as teleshopping that has been restructured for the mobile age.
If we mix this with just the right amount of entertainment as well as the fact that most Millenials and Gen Z individuals have the impulse buying gene.
We can understand why Live Stream Shopping might be the key to your company’s success.
By building over the characteristics of traditional home-shopping/teleshopping
Live Stream Shopping brings to the table a couple of key differences that are accountable for its aggressive growth in China.
- – A much younger audience.
- – Interactive streams that offer the users a way to interact with the brand such as likes, comments as well as on stream gifts.
- – The key feature of providing the customers with a way of buying the products with a few taps on their phone.
This provides an almost frictionless buying experience that now accounts for a 63B yearly market in China.
By combining this concept with Key Opinion leaders, the Chinese market has taken full advantage of this ever-growing trend.
How can you take advantage of Live Stream Shopping as an eCommerce business owner?
There are some key advantages that Live Stream shopping offers to you as a small business owner:
- Being a small company brings on a great advantage! Your passion and product knowledge!
- You or a member of your team can easily jump on a live video session and show your followers the passion behind your brand.
- Platforms are really user friendly, you don’t need any programming skills as everything is done within the platform.
- If your company already has a follower base, the way you have been testing our new products can be optimized.
- Instead of launching the product on your website, creating ad-sets, establishing test budgets, you can directly interact with your customers, show them your new product or product lines and receive instant feedback.
- You can have multiple live streams, each of them targeting a specific topic.
- You can set up a weekly stream that engages with your audience in order to find out what they are looking for coupled with:
- A monthly stream that offers your customers an on-stream guaranteed discount.
- A quarterly stream that presents the direction that your company is going.
Combine the above-mentioned points with on-stream raffles, discount coupons, 1 on 1 private VIP meetings, and many more and you will surely understand why this trend is here to stay.
If you need to create buzz around a particular offer, upcoming event or you just want to showcase the human side of your business.
With Live Stream Shopping, the opportunities are endless.
Already, brands such as Adidas, L’Oreal, NYX, and many more have begun using Live Stream Shopping as an additional line of sales.
And when it comes to Small business, it gets even better.
In China businesses that range from small fashion designers all the way to top the top Luxury brands have implemented Live Stream Shopping as a must-have tool!
So, in conclusion, you can never be too big or too small when it comes to Live Stream Shopping, just give it a try and be authentic while you are doing it.
