In a world of constant change, e-Commerce is advancing on so many levels. This trend report will show you all the upcoming trends of 2021 – and the nearing years. We’re taking a deep dive into Live Video Shopping and explaining how this trend became so popular, but also which other trends are on the rise. In this report, we’ll explore the components of hybrid retail and show you how to build personalized, interactive experiences that engage both physical and digital shoppers!
Spotlight on Live Video Shopping
Take a good look at your e-Commerce strategy for this year and see how your business can evolve by adding Live Video Shopping to your website. This popular trend offers the ability to show your products to your web visitors and influence their shopping decision in real-time. Your presenters can interact with customers watching the live stream, and the customers can make a purchase directly from the live stream, with a click of a button. This way, customers are receiving a far more engaging experience than using a traditional self-service e-commerce platform and just filling a virtual shopping cart. We wrote a dedicated Live Video Shopping guide recently if you would like to deep-dive into this new trend.
The future of retail
It is safe to say that the global pandemic has transformed almost every business, whether they were ready for digital transformation or not. But it’s good to understand that the Live Video Shopping trend has been going on for many years now. It just got pushed extra due to the pandemic. The hype made up more than 10% of e-Commerce sales in China 3 years ago. The US and European markets are catching up fast and most importantly – the customers love it. The add-to-cart and sales conversion rates are incomparable!
If you think this hype is going to slow down whenever the global pandemic ends, Forbes suggests otherwise! Customers are getting used to the idea of online shopping and the predictions say they will continue to use these tools in the future. That’s why it’s even more important for brands to start implementing this new live engagement trend right now.
It’s all about the experience
Why are brands increasingly shifting their resources to Live Video Shopping? There are a few things we’ve noticed. The potential for live interaction (such as Q&A) creates a far more engaging experience for customers. Also, creating conversations that generate returns for brands in engagement, lead generation, and influencer marketing are ways to increase your sales. Through Live Video Shopping, you can reach the target audience and create an additional revenue stream that is potentially always open! Think of your website as your new storefront. What’s more?
- Live streams tend to avoid the overly produced look of other marketing videos,
- In light of the COVID-19 pandemic, Live Video Shopping has become the only viable alternative for some brands to engage with their customers
- Showing your products to customers and letting them know what’s good about it, so they can add them to their cart immediately – which will increase your sales
Launch your product
Is there a product launch coming up and you want to go all out? Use Live Video Shopping. Show your customers all the features in real-time and give them the option to purchase (or pre-order) the product(s) immediately. This solution also works very well for big shopping events, like Black Friday for example. We’ve recently hosted a webinar on how to accelerate your Black Friday 2021 sales with Live Video Shopping – watch the recording here to learn more.
Give confidence to your shoppers
Customers are looking for safer, more convenient, and more diverse ways to make their purchases, and the pulse of the industry seems to suggest that faster shipping, digital selection (like Live Video Shopping), and easy pickup services will continue to do well. In this current -mostly digital- world, customers have reduced opportunities to see your products in real life.
People may be less comfortable or bothered to deal with returns, and more considerate about how much or what they buy. Confidence and trust are therefore important elements of online shopping.
So, how do you gain the trust of your customers? First off, take control of the messaging according to your products, and provide them with real, live storytelling. This can leverage an opportunity to not only engage with your customers but to build confidence by answering questions and discussing the products live through Video Broadcasting.