With the explosion of social networks along with the rapid development of online shopping, Livestream commerce has become a popular sales tool for many people and businesses. This form of real-time interaction not only helps sellers showcase their products directly to potential customers but also enables viewers to ask questions, get instant feedback, and even make purchases on the spot. The blend of entertainment and sales has transformed livestream commerce into an engaging, efficient, and highly lucrative tool for businesses of all sizes.
To better understand Livestream Commerce, let’s learn about this right away with Ecomobi in this article!
What is Livestream Commerce?
Livestream Commerce is a form of Livestream on e-commerce websites such as Shopee, Lazada, TikTok Shop, etc. Sellers have the option to broadcast live on e-commerce platforms, social media, or specialized Livestreaming platforms, and they frequently use influencers to promote their products.
Livestream Commerce first appeared in 2016 on the Alibaba Taobao platform. This unique livestream strategy combines a livestream with an e-commerce store so viewers can watch live and shop right away. Right from the moment it was put into use, Livestream Commerce has had a huge impact on the retail industry.
Let’s take EYDA for example. Dynamic sportswear company EYDA caters solely to women and has a wide selection of active-lifestyle-appropriate fitness attire. Acknowledging the tremendous influence and favorable reception that live shopping events have received, EYDA took advantage of that opportunity very well with one of the first livestream sessions producing a 200% increase in sales.
Why should you use Livestream Commerce?
Livestream Commerce is a more developed direction of traditional shopping where customers will have experience and interaction with suppliers instead of only being able to view products and choose to buy when they still have many concerns.
So with the development compared to conventional online shopping, what benefits does Livestream Commerce bring?
Increase Customers’ Shopping Experience
Livestream Commerce has many similarities with in-person shopping. You can ask as many questions as you want and will receive advice immediately through your phone screen. With this form of shopping, the products customers want to buy will be introduced in a detailed and meticulous way from its quality, features and how to use, etc. This will help customers’ shopping process become more complete and easier, which will help accelerate their purchasing process.
The difference between Livestream Commerce and normal online shopping is even clearer when it comes to products with greater value. This is because, with Livestream Commerce, customers can make better choices by seeing the product clearly and asking questions about it in more detail. For example, if customers want to buy authentic sneakers, by seeing the actual image and material of the sneakers, along with immediate advice, customers will become very assured about the product.
Livestream Commerce helps customers and brands get closer together, can easily solve problems through live broadcasting, and get answers more easily.
Huge number of online shoppers
Online shopping is becoming more popular than ever. Users are gradually switching from traditional shopping to shopping completely on online platforms with just a smartphone. Livestream Commerce was born so that users can easily buy necessary products with just a smartphone. Tracking products, interacting with sellers, and paying product bills are all done via mobile phones, and it is this convenience that has helped many customers switch to online shopping.
Livestream Commerce makes shopping easier
With live commerce, shoppers no longer need to visit physical stores to find their favorite products or spend time moving through multiple shops to make a choice. Instead, with just an internet-connected device, they can join live commerce sessions from anywhere, enjoying a much more convenient and accessible shopping experience. This allows users to browse and shop without the need for physical store visits, saving time and effort in the process.
Moreover, users don’t have to worry about unclear product displays, as live streams provide detailed demonstrations and real-time showcases of the products. They can also view feedback and reviews from previous buyers during the session, which helps them make informed purchasing decisions. This blend of convenience, transparency, and customer interaction has made livestream commerce an increasingly popular and effective way to shop.
Challenges for Livestream Commerce
While livestream commerce offers a wide range of advantages, such as increased customer engagement and real-time interaction, there are also several important challenges and considerations that businesses must address to ensure its successful implementation.
Technical requirements
One of the main challenges that sellers have to deal with is the technical requirements of each Livestream session. To provide the best experience for the customers, shops, and sellers must have a stable internet connection and high-quality streaming equipment, including cameras, microphones, and lighting. Poor video or audio quality can lead to a negative shopping experience, reducing customer engagement and trust.
Managing real-time customer service
During the Livestream session, customers will have many questions about the products. This can cause difficulties for salespeople because they cannot answer dozens of questions at once. To deal with this problem, shops need to prepare scenarios and questions that may be encountered in advance to be able to answer customer questions as quickly as possible. Delays in responding to inquiries can cause communication difficulties between sellers and customers, which can lead to reduced sales.
Ensure products quality
Livestreams are meant to showcase products in their best light, but customers must receive items as described. Any discrepancy between the product shown and the product delivered can damage a brand’s reputation and lead to returns or negative reviews.
Order overload
Although receiving a high volume of orders is generally beneficial for businesses, it also presents significant logistical challenges. A surge in orders means that businesses must manage and process a large number of products that need to be prepared, packaged, and shipped. To handle this effectively, stores need to meticulously plan for large quantities of orders, ensuring that they have the necessary resources and processes in place. This involves coordinating with suppliers, organizing efficient inventory management, and implementing streamlined packaging procedures.
Another important factor is that shops must prioritize timely delivery to prevent delays, which can lead to customer dissatisfaction and potentially negative reviews. Ensuring that every step of the order fulfillment process is executed flawlessly is essential for maintaining customer trust and satisfaction, and for capitalizing on the benefits of increased sales through livestream commerce.
Future of Livestream Commerce
As livestream commerce continues to gain popularity, its future looks promising with significant potential for growth.
Advanced technology
One key factor driving this growth is the increasing integration of advanced technologies, especially with the development of AI (Artificial Intelligence). Outstanding uses of AI are applied in E-commerce in general and Livestream Commerce in particular can be chatbot. With an AI-powered chatbot, it will assist sellers in handling customer inquiries more efficiently during live sessions, enhancing both the user experience and operational efficiency.
Platforms evolution
All e-commerce platforms are expected to persistently develop and update their features to stay competitive and meet evolving market demands. As technology advances, these platforms will introduce increasingly modern and convenient tools designed to streamline the sales process for sellers. These enhancements aim to simplify various aspects of online retail, from inventory management and order processing to customer interaction and marketing strategies.
Moreover, these updates will not only benefit sellers but also significantly enhance the shopping experience for customers. By integrating advanced features such as personalized recommendations, improved search functionality, and interactive product displays, e-commerce platforms will create a more tailored and engaging shopping environment. This focus on personalization helps to address individual customer preferences and needs more effectively, leading to a more satisfying and enjoyable shopping journey. As a result, both sellers and buyers will enjoy a more efficient and customized experience, driven by the continual evolution of e-commerce technology.
The change in online shopping
Looking ahead, Livestream commerce is expected to reshape traditional e-commerce by bridging the gap between in-store and online shopping. With its real-time interaction, personalized engagement, and ability to create a sense of urgency, it is likely to become a dominant force in digital sales strategies. Experts predict that this format will continue to grow across various industries, from fashion and beauty to electronics and home goods, transforming the way businesses approach online retail.
Conclusion
Livestream commerce has emerged as a transformative force in the e-commerce landscape, significantly altering how businesses interact with customers and how consumers engage with brands. This innovative approach combines real-time video streaming with interactive shopping experiences, allowing businesses to showcase products dynamically while engaging directly with their audience. The ability to provide instant feedback, detailed product demonstrations, and exclusive offers creates a unique shopping environment that traditional online retail cannot match.
As e-commerce platforms continue to evolve and integrate more advanced features, the potential for livestream commerce will only grow, further enhancing the shopping experience for both businesses and consumers. Embracing this trend now can position your business at the forefront of the digital retail revolution.
Ready to take your business to the next level with livestream commerce? Start exploring the opportunities today and see how this innovative approach can drive growth and engagement with Ecomobi now!
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