Updated: Jun 15, 2021
STAY TUNED: FOR A LIVE STREAM SHOPPING TAKEOVER
With online shopping constantly evolving, streaming commerce is preparing to dominate the industry.
The Evolution of Streaming Commerce
Streaming commerce has been around for a while. Telly shopping channel, QVC, has been streaming since the 1980's! However, In the twenty-first century, brands are looking to make live shopping even more accessible to reach new audiences and boost sales.
Chinese streaming commerce giant, Taobao, is taking live shopping to new heights. With over 1 billion product listings as of 2016, the combined transaction volume of Taobao Marketplace and Tmall.com reached 3 trillion yuan in 2017, more than that of all US e-commerce sites combined. Chinese, livestream influencer, Viya, filmed with Kim Kardashian before singles day (similar to Black Friday) and managed to sell 150,000 bottles of perfume in seconds.
The sheer scale of revenue generated from live shops in China alone is enough to make any brand think seriously about optimising their content for streaming commerce in 2021. COVID 19 has accelerated this move.
Live Shopping Platforms
There are several ways in which brands can take their video content live. Here are some of the platforms that are hot on China's heels.
NTWRK: Exclusive Live Shop Drops
Founded in 2018, the streaming app exclusively sells streetwear and has become an essential buying experience for fans of Supreme, Off-White, Yeezy, Louis Vuitton and more. Viewers watch a series of live shows for product drops with the chance to get virtual tickets to enter a lottery-style system where they may win the opportunity to buy rare, one of a kind items. Streetwear is just a small category, with the site selling a variety of items like cookbooks, toys and artwork. The exclusivity of NTWRK's luxury fashion drops gives fans an exciting and personal experience with brands. By signing up to live shop events fans can buy products before anyone else.
Google Shoploop: Live Shopping Stories
Google Shoploop is a platform for discovering new beauty brands via streaming commerce. Viewers can watch tutorials from real people and shop the products straight from the video. While watching the 90 second demonstrations, viewers can save items to buy later or purchase straight away by clicking a call-to-action to be taken to the merchants ecommerce. Viewers can follow their favourite creators to keep up with the hottest trends. This is a great way for brands to stay connected with their fans.
Bambuser: Shoppable Live Broadcasts
Bambuser helps brands interact with thousands of customers through engaging, shoppable streaming commerce on their websites. The add on lets brands embed a code on their website that allows them to set up live stream events on ecommerce. Brands can then go live through the app and let their customers shop live alongside the stream. Viewers can add products to their basket from a shoppable carousel without leaving the video. They can also open a chat room where customers can interact with store associates to ask questions about products. This brings the benefits of in-person shopping online and helps build customer trust and loyalty. Bambuser's stream offerings include one-to-many or one-to-one videos.
Smartzer: Shoppable Video
Smartzers interactive video platform allows brands to create shoppable live events for their ecommerce. Every live shopping event features a product carousel alongside the stream. Here, viewers can select products demonstrated in the video and add to their basket, with the option to purchase without leaving the stream. Brands use Smartzer’s player that can be fully integrated into the Demandware API, to instantly pull up-to-date product information into the Smartzer editor and player to be showcased to viewers. After the ticketed event, brands can continue to show the streams on ecommerce sites to help turn views into qualified traffic.