As the mentality of online shoppers becomes increasingly ‘see it now, want it now’, the nature of eCommerce is being rewritten. Yet, as same day delivery becomes the norm [à la Amazon], customers are demanding more than just quick turnaround times. They want a personalised experience, the authenticity of human connection and the chance to interact with brands in more meaningful ways than just placing an order and receiving a ‘Thanks! Your order has been received!’ email.
Live shopping combines the personal, in-person touch of a bricks and mortar store experience, with all the conveniences of eCommerce.
What is livestream shopping?
Livestream shopping is when a host [typically an influencer] promotes and sells a product through live video. Just like QVC and other home shopping channels, livestream shopping is live and unedited. Also known as live shopping or live commerce, livestream shopping allows audiences to interact in real time with a host through comments and questions.
Where is live shopping streamed?
Livestream shopping is normally streamed on social media platforms, eCommerce apps and websites like Amazon.
There are already a few dedicated livestream shopping platforms available to Western audiences, including Popshop Live, buywith, Bambuser and Livescale.
Is live shopping popular?
Since Alibaba introduced Taobao Live in May 2016, a new chapter began for China’s eCommerce industry. The Chinese retail giant pioneered a new approach to selling online – allowing shoppers to watch and shop simultaneously. Now livestream shopping makes up about 12% of total retail eCommerce sales in China.
Live commerce is growing and growing. From before the pandemic to during the pandemic, the share of respondents using live shopping in one survey increased by an average of 76% worldwide. Europe saw the highest growth, with livestream shoppers there rising by a huge 86%.
As more eCommerce businesses get clued up to the value of livestream shopping, it’s gaining real momentum. So far, fashion has dominated, but other categories like food and furniture are in on the act too.
And that’s where Viya comes in.
Wait, who’s Viya?
Hun Wei, also known as Viya, is the queen of China’s massive live stream shopping market. As a host, Viya has sold houses, cars, cosmetics and even a rocket launch.
Already a billionaire at 34, Viya has had explosive success as a livestream host and ranks among China’s wealthiest 500 individuals. Tesla was one of the companies who hired Viya in 2020, where 4 million viewers watched an hour-long Tesla-centric livestream.
Is livestream shopping good for business?
When done well, there are two main ways that live shopping can help brands:
Accelerating conversions by creating a sense of urgency. In most livestreams, there’s a countdown timer and, often, the products sold are limited-release.
Attracting new customers, especially younger audiences.
As with any form of digital marketing, it’s important to get it right from the start and learn from the mistakes of others rather than jumping in blindfolded with your toes crossed.
Whether you choose to do your own online research and implementation or reach out to a team of digital experts, ensuring you have a solid, strategy-driven plan of action in place will save you a lot of headaches, wasted time and dollar. Understanding your target audience through and through will help you make good decisions about what platform to use, which products to livestream and when to host it.
At 3PM, we have serious eCommerce experience and, whether you opt for live shopping now or later, we can help you boost your sales and increase online revenue almost instantly.
Are you ready?
Get in touch today.