eCommerce has been turned upside down by recent events. In 2020, 80% of consumers would consider buying online. A practice that is now part of everyone's buying habits.
Why does this matter? Merchants have had to rethink the digital experience and type of engagement they offer their customers. This has created a new chapter for retail with the emergence of live shopping . A new generation teleshopping which offers the possibility of buying a product from a video broadcast live. This is a rich level of customer experience that is digital, human and imbued with emotions.
Live shopping, a fad?
It would rather be a trend that is permanently part of our consumption habits. Live shopping sales could represent 10 to 20% of all global e-commerce by 2026 according to a study by McKinsey and Forrester consulting.
FYI - It’s already at 10% in China!
In Asia, tens of thousands of influencers are already hosting mini teleshopping programs on a daily basis. Consumers love these live sales and the market is estimated at 480 billion dollars by April 2023.
In Europe, some brands have already mastered this practice. Since 2020, Etam has been inviting its consumers to follow its Paris Fashion Week show live on Instagram & Tiktok. Each time a model passes, the items worn are displayed with the price and a link to the website to purchase them.
Results: hundreds of conversations initiated with the brand and compulsive purchases made live.
While consumers may not expect live shopping, results suggest that they’re way more likely to convert and within 3 years, 1 in 5 consumers may not purchase at all. Yep 1 in 5, the shift is definitely happening.
As live shopping is implemented by each aspect of the business (Marketing, PR, Sales, Distribution etc), synergy must therefore be initiated between them in order to be able to offer a seamless and frictionless customer experience for live shopping.
Essentially, everyone needs to know the products inside out.
Acquire the right tools and you can extend the physical experience on digital channels very simply. Service providers such as Livescale, caast.tv, Bambuser, to name but a few, have Page of
developed turnkey systems, while offering brands, advertising agencies and retailers advice and support.
The teams in charge of interacting with users from a customer experience must be able to provide qualitative answers. Knowing the trends, the price history of a product so as not to be mistaken, buyer feedback, etc., is really essential to ensure that the response formulated is in line with demand.
By creating a knowledge base dedicated to live shopping, teams will be able to easily formulate consistent responses to users. There is a real issue around the almost instantaneous responses by experts. A response provided in a few seconds = more chances of converting and retaining. If you’d like to meet the Onepilot team and chat live shopping, come and meet them at the White Label Expo on the 28th and 1st March.