To put simply, livestream shopping in e-commerce leverages the power of live media to sell products and services. Popularly known as live eCommerce, livestream shopping is essentially an online shopping event where customers can purchase products or services that are being presented on a livestream.
Here is a list of reasons why livestream shopping in eCommerce is becoming the new way to shop:
1. Brick and Mortar Experience from Home
The biggest benefit of livestream shopping is experiencing the feeling of physically shopping at a store from the comfort of your home. Shopping at a brick and mortar store is much more than physically paying for a product. It is the experience of looking around at products, trying them on and asking questions about it. With live streaming shopping app, you can ask host questions, in real-time, about the product being presented and ask them for close up of products and their feedback.
2. Brand Awareness
Livestream shopping events are usually hosted by celebrities or influencers. These public figures have loyal followers who often blindly trust the influencer’s recommendations. A good word from a popular influencer or celebrity means increase in brand awareness among masses because they usually have a huge audience.
3. Boost in Sales Volume
Livestream shopping often encourages impulse buys among customers. If the livestream is well planned, it can help generate enormous sales pretty quickly. Live Streams are also helpful in pushing products which aren’t generally doing well on their own. When influencers endorse the products, which aren’t as popular amongst the customers, there is a higher chance of customers deciding to try out the product.
4. Reduction in Distribution Cost
Through livestream shopping, products can be directly sold to the customers. Removing the middle-man can lead to tremendous reduction in overhead costs such as transportation costs or expenses related to inventory management. When products are directly shipped to the customers from the warehouses, operations costs are also reduced.
5. Increase in Customer Engagement and Conversion Rate
Live Shopping for e-commerce is a great way to connect with your consumers. Brands get the opportunity to connect with their customers at a personal level and gain insight into what exactly the customer likes and dislikes or what specific features are the customers more interested in. Not only customer engagement is good for R&D of the brand but also helps in increasing sales. If the customer engagement rate is high, the conversion rate increases as well.
Livestream Shopping in e-Commerce bridges the gap between the convenience of online shopping and personalised experience of offline shopping. With Livestream shopping becoming increasingly popular, there is a surge on live streaming platforms in India as well.
Livestream platforms such as Bringin’ reinvent online shopping. The vast range of live streamed tutorials, reviews, exclusive pre-launch, and demos help consumers make an informed decision. Consumers not only have access to their favourite influencers’ favoured products but also detailed information about the product from industry experts. Unboxing videos and product demos help the consumers stay up to date on what’s new and trending.
Livestream shopping also gives consumers the opportunity to understand the difference between two similar products and choose which one is a better fit for them. In addition to all the information, Bringin’ also offers its customers a platform to connect with people who have similar tastes and build a community to share and help each other.