Pandemic and Lockdown caused a boom in e-commerce. High time to get creative and test new trends, because as the saying goes: trade is change. In the online industry in particular, one trend replaces the next in an attempt to win customers and increase sales. It's a similar story with the latest trend - live shopping. Whether the trend is really recommendable and offers potential for your online business? We took a closer look at the trend.
What is live shopping all about?
China has been leading the way for several years and Europe is increasingly following suit. Live shopping is currently one of the biggest e-commerce trends of the year. Strictly speaking, this means a live stream with experts who present and sell products digitally in real time in various ways. Through a chat, the customer is in direct contact with the brand and enters into interaction. With the help of the direct buy option, the products presented can be purchased with just one click.
Social media or website - the appropriate channel for your livestream
In addition to all social media networks such as Instagram, Facebook, YouTube or Twitch, the live event is also possible directly via the company's own website or store. Basically, the choice of channel depends on a few factors. If your brand is active on social media and already has a large reach, social media is certainly a suitable choice. Many also rely on influencers for their live event. This way, you gain reach and appeal to a broader target group at the same time. In addition, influencers can be decisive in the purchase decision, because through social proof and a special trust and authenticity, they influence the credibility of the customer.
On the other hand, if you prefer to use your own website for the live shopping event, you have full control and usually better streaming quality. Also the traffic of your site increases enormously. However, this way you have to reckon with a smaller or limited reach as well as additional marketing costs. So before you start such an event, you should carefully weigh the respective advantages and disadvantages before you commit to a channel.
Advantages for your e-commerce business
Tchibo, Douglas, Esprit and others are already leading the way by offering the first livestream events. The biggest advantage in e-commerce is probably independence and flexibility. This means that the live event can also be planned and implemented independently of location, time or other circumstances. Since the whole thing takes place digitally, it can therefore be implemented quickly and cost-effectively compared to most other events. Customers can tune in worldwide via their smartphones and store via social media or the mobile website.
Get to know your customers and show personality behind the brand
The interaction options such as reactions and the chat also provide you as a merchant with direct feedback and contact with your customers. The perfect opportunity to bind the customer to your company and at the same time to address a new customer group.
Unlimited possibilities
Live shopping is the new kind of digital customer event in e-commerce. There are no rules as to what form the livestream should take. From product development to the classic Q&A, a livestream event can be used throughout the entire customer journey.
Sell and inspire the customer
Probably the most popular variant is the product presentation, which is intended to resemble a classic consultation in stationary retail. A kind of preview as a presentation of new product launches or a fashion show also combine the sales expertise with a certain degree of entertainment and make your livestream more interesting.
Increase sales
Whether through a fashion show or a simple product presentation. The livestream also offers you the perfect opportunity to increase your cross-sells. Create different looks, show additional accessories and recommend appropriate accessories. To encourage more purchases and increase your sales, you can also use promotions like dedicated discount codes that are only available during the live stream.
Live Shopping - the new teleshopping 2.0?
At first glance, the livestream event can be compared with the earlier teleshopping via QVC and Co. The principle is the same: products are sold digitally and presented to customers in real time. The big difference today, however, is the medium used. Whereas housewives used to sit in front of the TV in the mornings and order the latest household appliances, underwear and the like over the phone, today it's the younger generation that uses smartphones to be presented with the latest products in real time and store directly online.
Social media can achieve a much greater reach and interaction between customer and brand is possible with minimal effort. In this way, a shopping experience can be offered today that is optimally tailored to the needs of the customer. In addition to sales expertise, the focus here is on entertainment and direct interaction. What usually falls by the wayside in e-commerce is now possible thanks to a livestream: the brand is given a face for the customer. In this way, e-commerce can now be combined with some of the advantages of stationary retail, such as personal advice, and offers an innovative customer experience.
Conclusion - short e-commerce trend or potential for the future?
First of all, live shopping offers some advantages and opportunities that not only increase the sales of your online store. In principle, this format can also be implemented for all industries and puts the customer experience enormously in focus. Since it simultaneously combines the advantages of e-commerce with some of the benefits of brick-and-mortar retail, the format certainly offers great potential to be attractive to customers in the long term. It is important to find the optimal regularity and duration of the livestream in order to avoid a flood of information. Because to be honest: very few people are interested in a half-hour presentation of a product. Added value and entertainment should always be taken into account!
Nevertheless, as always, the target group of your store is particularly important to consider. Social networks like Instagram and TikTok appeal primarily to the younger generations. However, livestream shopping certainly offers enormous potential, especially in the beauty and fashion sector.
You want to go with the trend?
To link livestream events with your Shopify store, Shopify already offers several app connections. Among other things, the apps allow you a quick implementation and ensure a smooth stream directly through your online store.