Live Video Shopping in 2021
Things went upside down when lockdown happened and people were forced to stay inside their homes. A lot of industries were affected badly but a lot of them worked for the betterment of their business and did well during the lockdown.
2020 was the year where people proved that video commerce and live online shopping is the new future of the world. The pandemic has pushed retailers to think beyond normal and grab the opportunities that live commerce offers. Live video streaming has been proved to be the most profitable and convenient way of increasing sales. Live Stream Shopping is expected to boom the market not only in 2021 but has a future scope too.
Up and Coming in 2021: Live online Shopping
Live stream shopping gained popularity in China and soon e-commerce brands all over the world started merging their business with live streaming shopping.
Live stream shopping allows retailers to promote and sell their products in real-time and the advantage is that customers have an opportunity to communicate directly with retailers or brands with the help of a live chat feature.
During live video shopping, an in-stream catalog and shop icon helps you to browse and purchase products without leaving the live show. Hence it gets easy for buyers to shop while watching products in action.
Many high ends have also leveraged live shopping to boost their revenues and grab the attention of their customers.
Louis Vuitton has recently become one of the first luxury brands to adopt a Livestream e-commerce platform. The summer collection of 2020 was live streamed and was a big success.
Benefits of Live Shopping for Businesses
Not only has live video shopping sustained many brands during the pandemic but live video shopping has a lot of advantages that make it the future of the eCommerce industry. Hence we can say that video commerce is here to stay.
Once your live stream show ends you can publish the clips or teasers of your live streaming video over other platforms and this will allow you to grab more customers. Not only this but video content is considered to be more important and useful but also helps in increasing the SEO ranking.
What makes live online shopping and online shopping different is that live shopping allows having an interactive session and a lot of engagement takes place during the live shopping similar to the experience of physical shopping where you interact with the storekeeper and then purchase the goods.
Live shopping also allows hosts to promote and demonstrate products efficiently and effectively, and in return, the customers can enquire about the doubts they have in real-time.
Live stream Shopping acts as a medium for retailers to retrieve audience data and check engagement analytics.
For instance, each live stream show offers you the ability to analyze user behavior which leads to a better understanding of the likes and dislikes of customers.
Buying a customized live stream shopping platform opens a new path for content monetization. By leveraging your live stream shopping platform you can have access to various features. Thus, you get a chance to earn more with live video shopping and also enhances your growth rate.
Strategies for a successful Live Stream show
There are a lot of strategies that can help you to boost your business with live streaming shopping in 2021, listing down some of these strategies:
Launch your new product over the live stream
Provide exclusive behind the scene looks to your customers
Host live Q&A sessions with customers
Present a live demo of your new products
Do live polls, offer discounts in real-time
According to a lot of surveys, this has been found out and calculated that by the end of the year 2021 the video market and live video shopping market will be approximately 70 billion US dollars. The reason behind this emergence is growing competition, all coming with new and creative ways to incorporate live streaming and video commerce to present themselves in front of their audience.
To host successful live shows and sustain for the long run in the e-commerce market an effective live commerce solution is all that you need.
Channelize.io live shopping solution helps you to engage and interact with your audience in real-time. If you are planning to bring out some changes in your business model by incorporating some latest trends then you can visit or email us at firstname.lastname@example.org.