Consumers are hungrier than ever for engaging online shopping experiences that meet almost instant demand. They want targeted products they love and a way to get instant feedback on social media platforms.

The live commerce/live shopping/live streaming trend has swept across the digital world as a kind of new-school nod to the TV home shopping network of yesteryear. It’s revolutionizing the retail industry and re-writing the rulebook on how to engage shoppers with live selling.

The chinese e comerce industry has been leading the way, catering to a potential live stream shopping audience of 1 billion+ users. Live streaming viewers in China have a strong interest in shopping-related content, making it one of the most favored types.

Chinese retail giant Taobao was one of the most popular shopping apps in the country, with over 876 million monthly active users, which gives us a good indication of the upward potential in live stream commerce. So how do you expand your ecommerce business models? We’ll get into that in a moment. First, lets get to the ins and outs of live video shopping and whether or not it’s right for you and your business.

What constitutes as livestream shopping?

The e commerce industry is underpinned by social media advertising, short-format pre-recorded video and live streaming e commerce. This is essentially live video shopping that can be done via platforms like TikTok and Instagram Live, on virtual reality platforms or your own website, among many options. Basically, any platform that facilitates video and is online instead of in a physical store or capacity. This gives consumers the opportunity to shop online with potential for direct conversation, chats and two-way engagement – wherever they are, whenever they want.

This can take on many forms, from small creators who sell products on Facebook Live or TikTok live, chatting to potentials and existing customers about how they make their products or answering questions and driving them to a new link to buy. The algorithm will also show these lives to other consumers in your target audience based on your previous content and followers. Or it can apply to the e commerce business for enterprise brands and large online stores.

Why does livestream e commerce work so well?

Even in a world where technology permeates almost everything we do, human connection and a sense of adventure and discovery play a role in how we engage. Regardless of your target audiences, the mechanics behind shoppable video help foster more of this connection.

In some ways, it also meets the needs of various types of shoppers but from one environment, tapping into consumer interest on digital platforms. For example, some people like the personalized service of going into a store and speaking to a shop assistant. With live streaming, you as a consumer can get help in this way without having to leave your couch. As these conveniences become more readily available, consumer demand for more is also increasing.

Live video shopping can help you meet these growing needs and desires from the customers you want to reach and break down the barriers preventing personal connections with brands.

The benefits for e commerce stores

Results in real time: With live shopping, you can make real-time connections with consumers but you can also measure results in real time. The immediacy of this approach is good for both the consumer who wants it all, now and the businesses looking to attract a spurge in sales.

Heightened social trust queues. It’s no secret that peer advocacy comes in many different forms and one of those forms is in social validation. As consumers see other shoppers commenting on lives, asking questions, offering reviews or making purchases, so they can feel more comfortable buying from brands. The live commerce environment also gives people a sense of togetherness creating a crowd-buying effect.

Higher sales: a live event is a great way to boost sales in the short term, given the real-time nature and the short decision making process that these types of events can foster. A live commerce event helps speed up the buying process by guiding consumers through the funnel faster, as it’s easier to get their attention, capture and generate interest, give them information to help them make a decision and drive them to convert.

Greater potential for virality and improved engagement rates: On certain social platforms, like TikTok, the algorithm will drive non-followers to your lives based on their interests. This is a great way to reach new customers with minimal effort.

How to get started with livestream video shopping

Understanding your market and the customer experience across multiple channels. Artisans and bespoke boutiques often benefit from live shopping events with a twist.

Whereas mass consumer items, such as makeup, can be sold via a lucky draw mechanic, where the host pulls out items from a larger pool to create lucky packs, etc. The only way to reach the right consumers is to understand their customer behaviour.

Qualify for live streams and set up live Commerce events

Certain platforms require you to have a business account or a specific follower count before you can stream live commerce events. Make sure you establish a business account from the start and sync it to your website or other social platforms.

Plan for your livestream event

What is the angel for your event? How will you publicize it? Will you sell until you run out of stock or take back orders? How much does influencer marketing play a role in how you’ll? Will you use influencers as hosts?

Who will be moderating the event, replying to comments and giving potentials information? What social posts will go out to drive traffic to the event? These events need to be well planned in advance.

Drive E commerce traffic with marketing

Share on-demand video, tap into influencer content to help drive traffic to your live streaming events. Use hashtags to make sure your videos and posts get seen in relation to similar topics and get as many people in your audience to your live events as possible for increased success.

Need a hand getting your live commerce set up started?

Make sure you’re set up for success and championing customer engagement with your live commerce events. Contact Your Digital Assembly for pro tips and support as you start or expand your live commerce shopping