Since live stream shopping is the next big thing in retail, the future is bright. Regular brick-and-mortar stores are outdated and consumers continue looking for other ways to shop. They do need human interaction, and that’s exactly what Live Video Shopping brings to the table. When live commerce is done correctly, real-time interactivity helps to drive consumer’s interests and make them buy.
Fortune claims: ‘Live Video Shopping will continue to expand and evolve because the possibilities are dazzling. Attracting new customers and guide them to your website is a top priority for retailers.’
According to Coresight, live shopping generated $60 billion in global sales in 2019 with U.S. sales accounting for $1 billion of that slice. Chinese buyers have long supported social commerce with a projected sales increase this year to $242 billion dollars, likely to reach half a trillion dollars by 2023.
This powerful form of retailing has so many opportunities and that’s why many businesses are embracing this trend. Live Shopping removes the barrier from typical online purchasing. It allows the consumer to clear up queries, feel valued and be a part of a group experience. Adding this value to the shopping experience will inevitably benefit the retailer also.
To find out how Whisbi can help you implement Live Video Shopping in your sales strategy and create an engaging online experience, schedule a demo with us.