What is live video shopping? Why is it the future of retail?

Live video shopping is a growing trend on social media platforms. In 2020 alone, over two billion people purchased goods or services online.

Less and less people are heading to stores for their shopping, and the online space is offering ample opportunities for influencers and vendors.

This article will dive into live video shopping and how it differs from traditional teleshopping, as well as information on implementation and use.

We’ll also take a closer look at why it’s so popular within the e-commerce community. From accessibility to popularity. There are many reasons to take live video shopping seriously.

What is live video shopping?

Live video shopping offers the opportunity to demonstrate a product in order to advertise it to an audience. Consumers interact with the live experience via online video, chat, or any other viable means of communication.

Live video shopping is not the same as live broadcasting. The main difference between the two is that in live video shopping, consumers have the ability to directly buy the product, whereas with live broadcasting they don’t.

Being able to instantly purchase the product makes for a more engaging experience.

How to implement live video shopping

There are both pre-existing platforms and new platforms that offer live video shopping capabilities. They’re typically easy to implement and use and a great way to connect with consumers.

Depending on your chosen platform, implementation comes in different forms. Some live video shopping platforms are just that - entire platforms. Others are embedded directly into your website.

The best decision for you depends on your requirements. For more detailed information on implementing the live video shopping solution that’s right for you, check out this live video shopping guide.

How to use live video shopping

There are many ways in which you can use live video shopping in your business. It’s a great way to connect with consumers and foster conversation around your product or service.

For example, using live video shopping for a product launch is a great way to introduce and sell your product. Have real-time conversations with potential customers and provide easy access to purchase options.

The aim is to offer more than traditional e-commerce and provide a new take on online shopping. By engaging potential customers with the shopping experience you’re able to create a closer connection with your customers.

Six reasons why live video shopping is the future of retail

The live video shopping craze took off in China during the mid-2010s, and in 2019, live shopping generated $60 billion in global sales. It’s quickly seen success among consumers worldwide, and it doesn’t seem to be slowing down any time soon.

Big names like Amazon and Facebook have created live shopping platforms and remodelled existing products to accommodate the trend. Think being able to shop from an Instagram Live.

The past year of staying at home only pushed live video shopping further into the limelight, and it’s here to stay.

1. It’s a safer way to shop

The global health crisis saw many avid shoppers turn online for their shopping fix. In-store shopping ceased to be an option, and live video shopping became an attractive alternative.

Shopping from the safety of your own home has its benefits, as demonstrated by the popularity of online shopping. Comfort, speed, and convenience all contribute towards the experience, and live video shopping offers this and more.

Moving forward, the global population is expected to be more cautious about their health. Unnecessary trips to busy stores are no longer as appealing as they once were, and we’re likely to see live video shopping rise in popularity.

2. It’s popular with young people

Live video shopping is popular on almost all major social media platforms. Facebook, Instagram, TikTok have all led the trend and offer in-app purchases from third parties. Live video streaming has the potential to reach millions of people every hour.

It’s the younger generation that spends more time on social media, with 67% of people aged 16-24 checking their social media channels weekly.

They’re also avid online shoppers, with 79% of that age group making purchases online. Demographics matter when considering social media.

There’s no platform where this age distinction is more noticeable than TikTok. As of July 2020, it boasts 800 million monthly users. Of those users, 41% are between the ages of 16 and 24.

Last year, TikTok partnered with Shopify to bring the shopping platform’s merchants closer to TikTok’s audience. This allowed Shopify users to create, run, and optimise their TikTok marketing campaign from Shopify.

TikTok has worked on improving its e-commerce capabilities in an attempt to accommodate the increase in live video shopping.

3. It’s more exciting

Reading a product description on an online shopping platform isn’t the same as having someone explain it over a live stream.

Viewers are able to ask questions, request to see different angles, and are sometimes even offered discount codes from the host.

More and more businesses are angling their e-commerce efforts towards live video shopping. Flash sales give shoppers great deals over a short period of time.

Consumers are shown a product and offered a limited discount, pushing them to make the purchasing decision sooner rather than later.

It’s a more engaging and exciting way to shop, and the interactive nature of social media allows users to get shopping advice and product feedback in real-time.

Influencers and hosts can demonstrate their product to a live audience from the comfort of their own homes, and buyers are one click away from a purchase.

4. It’s accessible

Not everyone is able to access traditional shopping venues. Be it inaccessible stores, lack of transport options, health restrictions, or any number of other reasons. Alternative shopping options provide consumers with more choice.

No travel is necessary and your thumb does all the work, live video shopping only requires access to the internet.

Plus, it’s an easy benefit to new stores. Rent is expensive, even managing a website takes time and resources away from new businesses. Live video shopping is that much more accessible for small time brands to get their products out there.

It’s sometimes the only way in which a brand can connect with a consumer, and is a welcome step towards a more accessible world.

5. You get to see the clothes in action

One major perk of live video shopping is seeing the product in action. Whether that’s a phone case, a nice jumper, or a new watch. Seeing it in use allows consumers to make their purchasing decisions more easily.

For some products, this doesn’t matter as much, but for others, it provides key information. It also allows consumers to view the product out of a traditional photoshoot setting with the glam of the lights and edits.

This gives a better insight into what the product is actually like in real life, and manages expectations for when it’s delivered.

6. It’s personal

Live video shopping allows consumers to ask about the product at hand and receive real-time answers. It’s like going into a store and speaking to a clerk, however, it’s way more convenient and saves a lot of time.

Connecting with consumers gives hosts the opportunity to really sell their products, and to provide them with an enjoyable and helpful experience.

By responding to the questions and requests of consumers, the host can highlight the benefits of their product naturally and seamlessly.

Wrapping up

Live video shopping has been on the rise for years, and the global health crisis has only helped accelerate its adoption.

It’s accessible, quick, and convenient for shoppers everywhere. There’s no queue and no searching for your size. You’re never more than a couple of taps away from the product on display.

Embracing future trends is an important aspect of business, and the data on live video shopping shows promise for the e-commerce industry.

The benefits are obvious, and the effort to create an enjoyable shopping experience for customers is worth the effort. Reaching consumers has changed greatly over the past few decades. Don’t get left behind.

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