While some brands are jumping on live stream shopping trend, others are doubting its effectiveness and questioning whether the novelty will wear off.
Let us break down the key aspects of live stream shopping that make it a winning and attractive format for brands.
2020 and 2021 starved us socially with brands feeling the pressure of not being able to reach customers in bricks and motor stores. Thankfully, advances in technology meant that brands were able to sell successfully online.
Live stream shopping platforms offered a life saving solution to brands bringing them together with customers in real-time experiences....
You can demonstrate your products clearly using video. Whether this is showing how it is made, how it is worn or how it works, you can display to your customer exactly why your product is the answer.
Clickable popups to featured products within the stream direct the viewer to sizing information, pricing, colour options and more. These popups provide immediate answers to questions alongside the call to action button to buy. This moves the viewer quickly down the purchase funnel and boosts conversion rate massively with the possibility to measure this metric with tracking links.
China's live stream shopping industry is the largest in the world, set to be worth $239 billion by the end of this year. This growth is not slowing down as it is estimated to grow by 27% annually up until 2025. In fact, in 2020 streaming commerce accounted for 10% of China's overall e-commerce market.
In the US, Amazon Live was re-launched in 2019. The platform features key brands like Covergirl and Neutrogena. Not only this, but Amazon's Twitch has also started to sell products via streams after integrating a check-out system in 2020.
TikTok recently announced a new partnership with Shopify that could see the platform support live stream shopping in the near future.
Globally, the live shopping industry grew 45% between March and April 2020, showing a 99% increase from the previous year.
Creating your own live shop experience is easy with the right platform. Smartzer's shoppable live stream platform allows brands to easily create seamless, state-of-the-art broadcasts. But there are some other things to bare in mind...