As the retail e-Commerce industry continues to evolve, we’re seeing a new trend emerge on the block – Livestream Shopping.
What is Livestream Shopping in Retail eCommerce?
Livestream shopping is a relatively new trend in retail e-commerce where consumers can watch live videos of products being showcased and purchase them in real-time. This format combines elements of traditional home shopping channels with the interactivity of social media, offering consumers a more engaging and immersive shopping experience.
Livestream shopping has gained popularity in recent years across the globe, as a way to drive sales, build brand awareness, and create a sense of community among customers. Companies in various industries such as fashion, beauty, and home goods have been leveraging livestream shopping in their business operations to connect with customers, showcase their products, and drive retail sales.
This new way of engaging and entertaining customers is not only revolutionizing the way we shop online, but it’s also giving us a glimpse into the industry’s focus on shoppertainment and customer-first experiences.
Retail business are looking for new ways to engage, entertain, and convert customers, and Livestream Shopping is the key to doing it in a way that customers want.
With the ability to establish a human connection in eCommerce, reduce cart abandonment, and drive online shopping conversions, Livestream Shopping is set to be the future of retail business.
So, let’s dive in and explore how this new trend is transforming the industry and what it means for the future of eCommerce
How Livestreaming Works for Retailers
Livestream Shopping is live and it is changing the way consumers shop.
Livestream shopping on a brand’s own ecommerce retail stores allows brands to showcase their products and services online in real-time to customers, creating an interactive and engaging shopping experience.
Brands can leverage this technology by hosting live demonstrations, product walk-throughs, Q&A sessions, and exclusive promotions to build a connection with customers and drive physical stores sale.
Livestream shopping also offers the ability to reach a larger audience, as viewers can tune in from anywhere in the world.
By incorporating gamification elements, such as quizzes, lucky draws and interactive polls, brands can add a fun factor to the shopping experience and increase customer engagement.
This not only enhances the shopping experience but also drives sales, as customers can make purchases directly through the livestream.
According to Harvard Business Review, 73% of shoppers prefer purchasing through multiple channels.
As customers increasingly demand an integrated and seamless shopping retail experience, Livestream shopping is becoming a powerhouse in creating a transformative omnichannel retail experience that blends physical and digital retail store touchpoints.
Prepare Your eCommerce Brand For The Shoppable Video Evolution
Learn how Firework is powering a game-changing shift in omnichannel digital transformation with Live Commerce and Short-form video.
Live Shopping across the Retail E-commerce Customer Journey
Live shopping has the potential to enhance the retail customer journey by adding a new level of interaction and engagement to a connected retail commerce experience — both online stores and brick and mortar stores.
It can be utilized at various touchpoints throughout the journey, starting from product discovery, to consideration and finally, to purchase.
1. Pre-Purchase
Live shopping offers customers a unique opportunity to see products and services online in real-time and interact with eCommerce business models.
Store Associates can host live demonstrations, Q&A sessions, and exclusive promotions to help customers make informed purchasing decisions.
2. Online Purchase
Livestream shopping enables brands to deliver comprehensive experience for customers on the brand’s online store. From showcasing product appearance and fit through video displays to utilizing shoppable videos for direct purchases and highlighting ecommerce store offers through live videos, this technology enhances the customer’s shopping journey and drives sales on the brand’s website.
3. Retail Stores Purchase
Videos are being used in brick and mortar store to show testimonials, facts, and information about products and pique the general curiosity of buyers.
There’s also a great opportunity for the traditional retail stores to integrate live shopping technology with augmented reality to provide customers with a virtual try-on experience in their brick and mortar stores.
4. Post-Purchase
Post-purchase, live shopping can be used for product support, offering customers the opportunity to connect with the brand and receive the help they need to make the most out of their purchases.
In addition, brands increasingly use livestream videos to advocate for their products by leveraging user-generated testimonials or product demos for physical stores sale.
Top Retail Industry names pioneering Livestream Shopping events
1. Ketchup Costumes come to Life with Heinz Halloween Livestream Event
Heinz promoted their first-ever Halloween pop-up, which was based on making costumes out of “tomato blood” ketchup.
The campaign included a live stream event anchored on Heinz’s website and distributed through media spots on publisher sites that drove traffic from numerous sources.
Heinz livestream conducted a Halloween-special livestream
The livestream garnered 1544 engagements, 14X the engagement rate on Facebook and 18X the engagement rate on Instagram.
2. Retail Livestream for the 2022 Girl of the Year Announcement by American Girl
American Girl took a plunge into retail livestreaming to make its ‘Girl of the Year 2022′ announcement.
They ran a Livestream on their websites as well as the social media accounts of their media partners.
The Livestream replay was also aired across Firework’s publisher partners using native integrations, adding extra scale.
American Girl hosted a mega announcement livestream
The event delivered more than 250k viewers in the livestream and its replay. There was a 25% engagement rate, with a 11% click rate reflecting a strong purchase intent.
If you want to discover the potential of retail livestreaming for your brand, book a demo with Firework today and get started.
Wrap Up
In conclusion, livestream shopping is ushering in a new era of retail eCommerce business, offering customers an interactive and immersive shopping experience like never before.
Brands that adopt livestream shopping as a key part of their omnichannel retail strategy can differentiate themselves from their competitors, provide customers with a seamless shopping journey, and drive retail sales.
As customers continue to demand an integrated and seamless shopping experience — encompassing both e-commerce store and brick and mortar store — livestream shopping will play an increasingly important role for physical stores business.
The future of online shopping is here, and it’s called livestream shopping. Get ready for Retail eCommerce 2.0.
FAQs
What is retail eCommerce and why is it important?
Retail eCommerce refers to the sale of goods and services online by retailers. This has become increasingly important over the years as more consumers are shopping online, and retailers need to meet customers where they are. Retail eCommerce allows retailers to expand their reach, reduce costs, and offer a convenient shopping experience to customers.
What are some of the benefits of retail eCommerce for retailers?
Retail eCommerce offers a number of benefits for retailers, including the ability to reach a wider audience, reduce overhead costs, and provide a more convenient shopping experience for customers. Retail eCommerce also allows retailers to gather data and insights about their customers, which can be used to improve their marketing and sales strategies.
How can retailers use video to enhance their eCommerce strategy?
Video can be used in a variety of ways to enhance a retailer’s eCommerce strategy. For example, retailers can create product videos that showcase their products and provide more information to customers. Video can also be used to provide tutorials or demonstrations, or to showcase user-generated content featuring their products. By incorporating video into their eCommerce strategy, retailers can provide a more engaging and immersive experience for customers, which can lead to higher sales and customer loyalty.
What is livestream shopping and how can it benefit retail eCommerce?
Livestream shopping is a type of eCommerce where retailers use live video to showcase and sell their products to customers. Livestream shopping offers a more interactive and engaging shopping experience for customers, which can increase sales and customer loyalty. It also provides retailers with an opportunity to showcase their products in a more dynamic way and to answer customer questions in real-time.
How can retailers get started with livestream shopping?
Retailers can get started with livestream shopping by choosing a partner that supports livestreaming, such as Firework, and creating a strategy for their livestreams. This may involve planning the content of each livestream, setting goals and objectives, and deciding how to promote the livestreams to their audience. Retailers can rope in their store executives or employees as brand ambassadors in the video and need not necessarily invest in partnering with an external influencer. Once they have a strategy in place, retailers can begin creating and promoting their livestreams to their audience.
