Often called “the future of e-commerce”, live stream shopping is coming in quickly as an integral part of any e-commerce business strategy. And yes, live stream shopping has a hefty return-on-investment and converts viewers to buyers much faster than the traditional e-commerce model.
But it is so much more than that. Live e-commerce is quickly becoming the best way to connect with your customers. It is opening new doors when it comes to how we engage and nurture relationships with our customers. Edelman’s 2019 Trust Barometer Report found that 81% of consumers say that they need to be able to trust a brand before they buy from them.
When building and maintaining trust with our customers is so important, it’s no wonder more brands and businesses are turning to live e-commerce to build that trust.
A quickly expanding content source
For years we’ve been told that video is the future of business and marketing—from YouTube to TikTok, Instagram to even Twitter, we can see how the uptake in video content, and more specifically live video content, continues to spread across all major marketing platforms. From here, it was only a hop, skip, and a jump to finding ways to effectively sell within live video.
The pandemic bolstered a shift to online shopping and helped speed up the transition to live commerce. Sales for live stream shopping were forecasted to increase by 38.4% in 2021. By 2023, U.S live stream shopping marketing is expected to reach a staggering $25 billion annually, according to Coresight Research.
Livestream shopping continues to expand thanks to a new generation of buyers. These buyers are looking for more than the kind of one-way sales experience that you can expect from your typical e-commerce website. They want two-way engagement that allows them to interact with the brands they love.
Livestream shopping does just that—buyers can interact with their brands of choice, experience the products first-hand, and ask questions about the products. And if you are using Stage TEN to stream, your audience can make a purchase without ever leaving the video player.
Livestream shopping isn’t the future—it’s already here
While the rest of the world is still heralding live stream e-commerce as the future, we’re here to let you in on a little secret… it’s already here.
The technology to stream live and sell effectively during a live show exists and is waiting to be leveraged for your brand.
Stage TEN makes it easy to add e-commerce to your live streams and connect with your customers. With the Stage TEN Pro Studio, you can create live shows that integrate your Shopify store to make purchasing a seamless part of your interactive experience. We know that transactions are interactions with your brand and that is why we make the process simple and streamlined, for you and your customers.
Bring your audience into the show with live polls and voting that let their voices be heard. Pull in audience comments to answer questions, shout-out buyers, and make your audience feel like they are truly part of the show.
Expand your reach by streaming live across multiple platforms at the same time—you can stream on Facebook, YouTube, Twitch, Twitter, and even LinkedIn simultaneously!
By having this direct connection with your customers, you can provide a level of customer service that is missing from other e-commerce experiences. Because, let’s be honest, even with chatbots and live customer support agents, an e-commerce website doesn’t come close to giving you the experience of seeing someone use/try on/test a product and letting you directly ask a question to a person live.
Build brand value with live stream shopping experiences
Livestream shopping is an amazing experience for customers—it brings them in, makes them feel a part of the moment, and lets them experience products in a way that isn’t possible with traditional e-commerce strategies.
But that isn’t where the benefits of live stream shopping end. You can add so much value to your brand by adding livestream shopping to your business strategy.
The results from live stream shopping experiences can’t be matched. With integrated in-show shopping, brands using the Stage TEN Interactive Player have been able to double their sales from the previous day’s sales. Live e-commerce experiences boast engagement rates of 70%+ and conversion rates of at least 7%.
Livestream shopping experiences add an emotional connection that is missing in traditional e-commerce experiences. By connecting with your customers they will be more likely to trust your brand and therefore will be more likely to make purchases and refer you to their friends and families for future purchases.
This increase in sales, conversions, and audience engagement and connectivity results in increased brand recognition and appeal; lower return rates on products purchased; and a higher rate of repeat customers.
Make an impact with livestream shopping
Still not sure how you can use live stream shopping for your brand? Let’s take a look at three Stage TEN partners who used live e-commerce to make an impact.
Dee Ocleppo Live Shopping Launch
Hosting her first live shopping show alongside fashion expert, Mary Alice Stephenson, Dee Ocleppo-Hilfiger invited the audience into her home for an interactive experience to launch her latest fall collection. She used fan call-ins and live voting to engage her audience and boost her sales. She experienced conversions that surpassed industry averages.
Foo and Foo Live Shopping Special
Partnered with Foo and Foo, Foo Tube featured hosts Elizabeth Hilfiger and Dae Shik Kim Jr. taking the audience through an interactive fashion show where they voted for the best looks and shopped unreleased pieces. They pulled audience comments on-screen to connect even deeper with the audience. The live stream resulted in an increase in transactions and one of their highest sales conversions.
Real Talk with Romeo Hunte
With the assistance of co-host and fashion expert Essence Gant, Romeo Hunte welcomed his followers into his studio to give them a glimpse into the creative space behind the brand and himself. The audience had the opportunity to weigh in on the looks, ask questions, and shop the collection live. During the show, they experienced a large increase in sales (compared to the previous day).
The benefits of livestream shopping for brands, creators, businesses, and consumers can’t be ignored. From an increase in sales and engagement to the building of a strong brand and customer loyalty, live e-commerce should be a part of every e-commerce business’s strategy in 2022 and beyond.
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