Livestream shopping is a new way to sell products online. Shoppers can tune in remotely to watch, comment, communicate with a host, and seamlessly check out. The FOMO factor, where shoppers see other viewers purchasing a product, drives purchase intention. Here are some ways brands can use live streaming to make their products stand out.
Increased Convenience
With livestream shopping, viewers can click on products mentioned in the video and immediately buy them. This adds an instant gratification element to online shopping, which can be a powerful driver of impulse purchases. Additionally, many live streams are hosted by real influencers or product experts who can provide authentic reviews and demonstrations of products. This can help buyers make more informed purchase decisions.
Moreover, brands can incorporate a chat feature into their live streams to answer questions and address doubts from their audience in real-time. This can also improve customer satisfaction and boost brand loyalty.
In addition, some streamers host live streams inviting their audience to participate in a contest or giveaway to win a prize. This can increase audience engagement and encourage consumers to stay tuned for the next live stream. This form of ecommerce is prevalent among Gen Z and millennials, who are drawn to influencer product recommendations and social content.
It also provides an experience that is more fun than traditional online shopping. As such, livestream shopping can be a powerful tool for driving omnichannel digital transformation. As the trend of live shopping online continues to gain momentum, consumers are increasingly drawn to interactive and engaging virtual experiences that allow them to seamlessly browse, purchase, and interact with products in real-time.
Real-Time Interaction
In live streams, hosts and influencers can interact with viewers in real-time, allowing them to answer questions instantly. This demonstrates that they are a trusted source of information and helps build customer trust. In addition, real-time interaction can foster a sense of community among shoppers, increasing engagement and conversion rates.
Consumers can also ask questions and request specific products during live-streaming sessions, allowing them to receive tailored product information instantly. This eliminates the time-consuming task of searching for reviews and product data sheets on Ecommerce websites, which can deter purchasing decisions.
Additionally, live streamers can show how a product works in a real-world setting, demonstrating its versatility and functionality. This is a great way to build a sense of urgency, which can inspire impulse purchases.
Personalized Experience
During live streams, viewers can interact with hosts or fellow shoppers by leaving comments and asking questions. This real-time engagement enhances the experience for shoppers, creating a sense of community and sharing in the experience. It can also help with search and discovery, as it’s easy to see recommendations for similar products from other customers.
This level of interaction also helps lower barriers to purchase that different e-commerce experiences can’t. For example, a home improvement retailer can conduct virtual try-on sessions or beauty Q&As to show off products in action. This information can reduce customer frustration about product performance and increase conversions.
In addition, live-streaming shopping can be integrated with brands’ loyalty programs to personalize the experience for recurring customers. For example, a rewards program member could be shown a personalized offer during a livestream shopping event, such as a discount code or a free product. This can build customer loyalty, increase repeat purchases, and drive long-term value. This makes livestream shopping an essential piece of the omnichannel digital transformation puzzle for retailers looking for ROI.
Urgency and Exclusivity
Livestream shopping offers an opportunity for retailers to create urgency and exclusivity. For example, a retailer could partner with influencers to host livestreams that feature new products or limited-time promotions. This approach is a great way to drive sales and build brand awareness.
In addition, retailers can use live streams to showcase their products in action and answer customer questions. This helps customers understand how to use and maintain the product, which can improve satisfaction and reduce returns. For example, a furniture company might host a livestream featuring their sofa collection and demonstrate how the products fit and feel in different sizes.
Livestream social commerce is here to stay and offers a unique opportunity for brands to engage with their audiences in a more authentic and immersive way. It can deliver increased sales conversions and downloads, better average session time, higher net promoter score, repeat customer rate, and more excellent lifetime value if executed well.
Engaging Content
The content in live streams is authentic and engaging, often featuring hosts or influencers who demonstrate the product and answer questions. This real-time, two-way communication helps buyers make confident purchases and builds trust in a brand. In addition to providing valuable product information, retailers can offer exclusive discounts and incentives during a livestream shopping event.
These discounts and incentives help boost sales and encourage shoppers to complete the purchase in a shorter period. Livestream shopping also helps increase conversions by offering a streamlined checkout process. Depending on the platform, viewers can click to shop for products from the video or be directed to a retailer’s website.
Partnering with a famous person, celebrity, or influencer for a livestream shopping event can significantly increase reach and engagement for your brand. Influencers can promote the livestream to their audience and create excitement around a new product launch. For example, Apple hosts livestream events for their latest devices, generating 20 million viewers during one of their launches. This level of realism creates buyer excitement and increases purchase intent.
