HOW STREAMING COMMERCE IS MODERNISING THE HOME SHOPPING NETWORK
Live streams succeed at marrying video, interactivity, exclusive content as well as the thrill of real-time, social shopping.
In the past year we have seen many brands jump onto new video E-commerce strategies. Just look at Jacquemus' shoppable run-way show, Walmart's exclusive 'shop-a-long' live streams or Nordstrom's house video shopping channel where shoppers can watch tutorials and buy exact products in seconds. And of course, E-retailer giant, Amazon has joined the trend by hosting more than 1,200 live streams during their annual Prime Day sale in October proving to brands that this new technology needs to be pursued.
Live stream shopping events are becoming more and more popular with merchants, selling on streams linked through Facebook, Instagram, LinkedIn, Email newsletters and increasingly on E-commerce landing pages. Reflective of the classic 'telly shopping' shows on channels such as QVC, brands are using live stream to give home shopping a much needed facelift.
Social media has meant that these real-time broadcasts are easily accessible and more attractive to a younger, Gen-Z audience. Plus, with bricks and mortar stores closed for the majority of 2020/2021, everyone (whether they like it or not) was pushed to make purchases online. With this, the industry is booming, set to be worth around $25 billion by 2023.
So, it is no surprise that interactive video platforms are racing to provide the best option for brands to take part in such a modern, engaging and highly anticipated streaming commerce format.
Services such as Smartzer help brands to host exclusive shopping events via social media or straight from their E-commerce landing pages. Viewers can shop in real-time and even chat to their favourite brands using a nickname and the chat bar. Apps like NTWRK direct streetwear fans to the hottest clothing drops from iconic brands like Off-White, Supreme and Palace. These live stream shopping events produce a thrilling, time sensitive buying experience that drives impulse purchases causing items to sell out in minutes. Sellers on NTWRK have seen their sales surge by 400%.
Telly-shopping is no longer the endless stream of mind-numbing marketing content that it used to be. Dynamic hosts from top brands demonstrate their products, interacting with the audience to provide a bespoke, personable experience. The industry has seen a technological injection which has modernised and energised a previously out-dated and boring sales channel.
We can't wait to see what the future holds for video E-commerce technology.