Brands and retailers across North America have begun tapping into the vast potential that live shopping events offer. In fact, according to Activate and eMarketer, sales from live shopping online in the U.S. alone will exceed $55 billion in 2026.
Live shopping events have also taken on a more important role than simply delivering on sales numbers or generating new traffic. Marketers see livestream shopping as a holistic tool that can, and should, shape their marketing efforts overall.
After all, live shopping events do present brands with a unique opportunity to establish a better connection with their customers and foster significant brand loyalty.
Let’s take an in-depth look at why marketers are increasingly turning to live shopping, and why your brand should be doing tapping into the latest live shopping trends too.
1. Establish the Human Connection
One thing live shopping events do better than any other online sales format is putting a human face to the brand.
Having an actual person – whether it is the founder of a small brand, a celebrity tie-up with a large brand, or even sales associates at a physical store – that consumers can connect hosting a live shopping event is a time-tested strategy for building bonds with consumers. As good as most video shopping is, having someone host a live shopping event in real-time is priceless.
Customers truly value the face-time they get with real humans at a brick-and-mortar store. Live shopping events bring that same experience online to complete the omnichannel experience that brands are looking to deliver to consumers.
2. Build Trust with Better Product Showcase
In a physical store, consumers can get a “feel” for the products on offer. This simple interaction goes a long way in giving the consumer the information and, thus, the confidence they need to make a purchase.
Replicating this “feel” is something that digital storefronts have struggled with and has left them sorely lacking.
While video does a much better job of showcasing a product than static images, a live shopping event takes it a step further.
Seeing a product in action, in real-time, alongside a person gives consumers a much better idea of what they’re purchasing. This inevitably provides consumers the confidence they need to make the purchase as the live shopping event progresses.
3. Drive Consumer Engagement
According to a recent Coresight report, more than half (52%) of all businesses that implemented livestreaming strategies listed greater customer engagement as a key reason for doing so. There are no other digital selling strategies that can generate engagement at a scale that live streaming can.
The modern marketer knows the importance of looking beyond individual sales figures. KPIs like customer lifetime value (CLV) and average order value (AOV) shape the direction that marketing efforts take, and better customer engagement via live shopping events can provide a significant boost to all the critical KPIs.
Engagement is important for creating a memorable customer experience. Not only does it help with brand recall, but also aids in building brand loyalty as well as improving customer retention.
Every piece of consumer engagement that a live shopping event generates creates ripples that go beyond simply making a sale.
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4. Tap Influencers to Host Live Shopping Events
In some ways, live shopping can be even better than shopping at a brick-and-mortar store location. This is especially true if your brand is trying to unlock the full potential of its influencer marketing strategy.
Even if an influencer is hosting a live shopping event from a single store, the reach is amplified to every single viewer of the livestream, even on social media platforms. The social aspect of going shopping also comes into play with such live shopping events, tapping into the consumers’ fear of missing out (FOMO) – something that social media platforms have already inculcated in the modern consumer.
For a consumer, the content of an influencer-hosted live shopping event can feel greatly personalized despite the mass reach. It feeds the innate consumer need for a personal touch, but does so without isolating the individual consumer from the horde.
5. Give the New-Age Consumer What They Want
Nothing endears a brand to consumers more than giving them something they actually want. For the new-age consumer, that something is shoppertainment.
Gen Z and Millennials don’t just want more video content, and more online shopping; they want it to be entertaining as well as experiential. Live shopping ticks all these boxes and more!
The right live shopping event will allow brands and retailers to not only attract the right target consumer but also generate engagement, influence purchase decisions, and eventually convert intent to sales.
The new-age consumer can be influenced at every stage of the funnel with a single live shopping event, if done right.
The Live Shopping Event Is Here to Stay
Building lasting relationships with customers is more important now than ever before – consumers today are more aware about what they buy, more conscious about who they are buying it from, and more likely to move to the competition if their expectations go unmet.
Live shopping events, hosted on the right live shopping platforms, help brands and retailers to establish and develop that relationship in real-time.
From D2C to luxury, brands around the world have already made livestream shopping events an integral part of their overall strategy. So ask yourself: is your brand ready to ride the live shopping wave of success?