Description
The Benefit of Livestream Shopping
Apart from profit, there are several reasons for brands to switch to livestream commerce as part of their strategy. For starters, video shopping can help brands to strengthen their relationships with their audience and secondly the interactivity of livestream shopping allows viewers to engage with a brand by leaving comments or asking questions in real-time. Livestream shopping also gives real-time information about the products by showing the products in action which helps the buyers make more informed purchases. Research shows returns are 50% lower when a product is bought off a livestream compared to traditional e-commerce channels.
3 Types of Livestream Shopping Platforms
Social media platforms with shopping Features: Facebook, Instagram, Twitter, and TikTok are the most used social media platforms when it comes to livestream shopping. For brands just starting with video shopping, leveraging social platforms where they have a presence and their audience already lives makes sense. Research shows that 78% of consumers follow brands on Facebook, meaning there’s a good chance brands can reach a big part of their target customers via Facebook Live Shopping.
Dedicated commerce platforms and apps: E-commerce sites like Amazon are also adding the livestream shopping game, adding an interactive and personal aspect to their existing platform. Consumers already surf e-commerce sites for their shopping needs; a livestream component can further drive sales by helping shoppers make smarter decisions. There are livestream shopping platforms like TalkShopLive and Buywith which pops up, giving brands even more options to experiment with live selling.
Self-hosted shopping platforms: Retailers that want their unique platform in which they the complete control over all aspects of the shopping experience can build their streaming platform. For a starter, building a shopping platform of your own enables your brand to customize every part of the experience and ensures buyers aren’t distracted by other featured content. On the second hand, brands also need to find a way to attract customers to a brand-new, self-hosted platform.
