What is livestreaming e-commerce
Live e-commerce is a strategy for promoting merchandise through online videos, in which retailers showcase products and answer questions from viewers. Typically, such streams take place on social media platforms or e-commerce sites.
Why is live e-commerce so popular?
As the Covid-19 pandemic started, the popularity of live-streaming e-commerce has risen sharply. Many consumers are unable to visit offline stores due to the lockdown, but they want to continue buying online. Live streams allow people to dynamically view products in context and let them ask questions about items they're interested in, just as they would in a brick-and-mortar store.Below we provide the benefits of such product promotions.
1.It can accelerate conversions and increase customer loyalty.
You can engage with your viewers, motivate them to comment, ask questions, and offer discounts for staying on stream. All of these actions can increase their loyalty to your brand. Also, the more users who stay connected with your company, the better chance they have of buying your branded products.
2.Improve brand appeal and attract younger audiences.
About 60% of young people prefer online streaming to watching TV. Regular live streaming can increase brand awareness among people and give them a better understanding of the products you sell. This fact will make your brand more attractive.
3.It allows companies to showcase products from different angles.
During the live broadcast, consumers can view the product in context and ask about its specific features. It is especially useful for the development of augmented reality technology. Shoppers can have an extraordinary experience while viewing items from all sides using AR opportunities.
4.It helps create a sense of urgency and drives consumers to buy faster.
Some businesses offer limited-time discounts to make people feel like they need to buy right away. This psychological trick can help companies improve conversion rates and engage people better. You can also offer some gifts and promo codes during each livestream to incentivize people to visit them regularly.