With the highest global consumer interest in livestream shopping globally, e-commerce businesses in the Asia Pacific region can adapt this trend for added competitive advantage and potential revenue growth. Here’s a guide to the latest sales and marketing strategy taking the e-commerce industry by storm.
In the realm of e-commerce, live tools are the trending topic and tactic. Many e-commerce businesses are latching onto this latest trend to take their online sales to the next level and to get a level up in the playing field amongst their competitors.
Buzzwords like live shopping and livestreaming may seem familiar to both business owners and consumers, but what potential do they have for your business specifically? Let’s take a look at this exciting e-commerce trend so you can go live with these top tips.
What is livestream shopping and selling?
Businesses use livestream shopping to promote and sell their products through livestreams on digital platforms. This selling via livestream is often done in collaboration with influencers. Typically consumers can interact with the influencers through comments, likes and polls, ask questions about the products being promoted and make a purchase during the livestream.
The purpose of livestream shopping is to give consumers an immersive experience. With their queries answered immediately, they are more likely to move along the customer journey stages faster towards making a purchase.
Benefits of livestream selling
While the livestream trend is growing, it is still not fully saturated or at its peak. There is consumer interest and potential avenues to explore.
Livestream selling is a great way for businesses in the retail industry to overcome a COVID-19 slump as more consumers are adopting online shopping.
Livestreaming is a relatively cost-effective form of marketing since businesses don’t need any special equipment, set up or software. Essentially just a camera-enabled smart device and an account on a live stream shopping platform like Facebook Live or Periscope is sufficient to start selling live.
Additionally, livestreaming requires minimal extra time to produce compared to other marketing content such as vlogs, blogs and articles.
One of the most alluring aspects of livestream shopping is consumers’ ability to immediately and directly interact with influencers. This real-time user engagement piques consumer interest in a brand and product through conversation and visibility.
Livestream shopping customer habits
Livestream shopping is gaining traction with consumers as it effectively blends entertainment with shopping. Through its immersive nature, conversation rates can be up to 10 times higher than conventional e-commerce. Consumers engage for longer periods and are propelled towards impulse buying by a generated sense of urgency using time-limited tactics.
Consumers also perceive livestream shopping as more exclusive and convenient. According to a 2021 survey, 84% of social media livestream shoppers felt they had opportunities to buy limited collections and editions, and 80% felt it was convenient to shop during livestream events.
Customer spending habits evolve as they engage in different e-commerce shopping experiences. As livestreaming continues to revolutionise online shopping and make a dent in marketing, the positive shift towards this video-centric channel is evident as well, cementing it as an e-commerce mainstay that businesses can adopt.
Don’t miss out on the livestream shopping strategy
Livestream shopping is a powerful tool for sales and marketing. Consider your product, brand and audience to see if livestream selling can be a viable marketing channel for your business. If suited, add this e-commerce trend to your marketing arsenal, along with other immersive technologies, like augmented reality (AR) experiences, to increase your revenue.
While leveraging the livestream shopping wave, be sure to give your customers a positive post-purchase experience to increase their confidence in your brand. DHL Express is a trusted global delivery logistics partner with international door-to-door service in every country in the world. You can be assured of fast and reliable delivery of your shipments with DHL Express’ full track and trace capability. Set up an account with us today to explore our e-commerce solutions and elevate your business to the next level.
