The rise of live shopping & shoppable videos: The Cool Kids in E-Commerce
The global pandemic flipped our lives, shifting the way we work, play, and importantly, how we shop. As lockdowns became the norm and in-person retail took a hit, the world saw a digital shopping transformation: live shopping and shoppable videos. These tech-forward shopping solutions surged in popularity during the COVID-19 times, offering a bridge between digital convenience and the interactive experience of brick-and-mortar shopping.
What's Live Shopping?
Think of it like a virtual shopping party! 🎉 Businesses showcase products through live videos, with hosts giving live demos and answering your burning questions. The coolest part? Shop straight from the stream! 📺 + 🛒 = ❤️
And, Shoppable Videos?
Ever watched a video and thought, "I need that!"? Shoppable videos are here to grant that wish. They're packed with clickable goodies that let you shop straight from the video. They're popping up on socials, websites, and more.
🔍 Let's Talk Top Providers
Got you curious? There are some big players in the game:
- Smartzer
- Channelize
- Bambuser
- Livescale
🤑 Looking to save some cash? Smartzer and Channelize might be your buddies. But if you want the full experience, Livescale is where it's at.
Stats Don't Lie! 📊
Here's a peek at some data from the giants in the industry:
| Source | KPI Impacted | Value |
|---|---|---|
| McKinsey & Company | Conversion rates | Live shopping conversion rates are up to 10x higher than traditional e-commerce conversion rates. |
| Forrester Research | Conversion rates | Shoppable videos can increase conversion rates by up to 15%. |
| Deloitte | Customer satisfaction | 70% of Chinese consumers who have watched a live shopping stream said that it improved their shopping experience. |
| eMarketer | Brand awareness | 60% of US consumers who have watched a shoppable video said that it made them more aware of the brand. |
| McKinsey & Company | Average order value (AOV) | Live shopping can lead to increases in AOV. |
| Forrester Research | AOV | Shoppable videos can increase AOV by up to 15%. |
| Deloitte | Sales | A recent report by Deloitte predicts that live shopping will reach $1 trillion in global sales by 2023. |
Live shopping and shoppable videos are not just fun, they're changing the game in e-commerce!
Wanna Jump In? 🌊
Ready to dive into this cool new shopping world? Here’s your quick starter guide:
- Pick your platform: Decide which provider floats your boat.
- Plan your show: Choose your products, craft your story, and set the date.
- Shout it out: Spread the word—on socials, emails, ads, you name it!
- Chat & Shop: As you go live or share your video, keep the conversation going with viewers for that personal touch.
So, ready to give live shopping and shoppable videos a whirl? 🛍️🎥
Frenk