Debunking Livestream Shopping Myths ---- 4 min read
During China’s 2021 Singles Day event, two Livestream influencers put on a Show for 12 hours, generating $3 billion worth of Sales and around 488 million Viewers. The traffic load was so intense that the Live Shopping Platform reported brief outages. Live Stream Shopping gained popularity as a result of this. The trend has gotten bigger and bigger all over the world since then. To clear confusion and to effectively leverage Live Stream Shopping, brands need to craft an impactful Live Commerce Strategy, therefore, here we are debunking Livestream Shopping Myths.
❌ Myth #1: Only Social Media is the most effective Live Stream Shopping Channel.
✔️ Reality: Brands are better off building a Live Commerce ecosystem on their website & apps where buyers actually intend to buy products.
Brands are tricked into believing that Social Media will generate conversions due to its captive audience. Views don’t always convert into sales, as the social media traffic is low shopping intent. Social media might be well suited for impulse buys. Still, it certainly isn’t the lead anchor for brands looking to build a powerful live commerce strategy leading to significant Sales generation.
❌ Myth #2: Large marketplaces dominate the Live Shopping E-commerce space.
✔️ Reality: Brands that have deployed end-to-end Live Commerce on their website/apps are significantly dominating the Livestream Shopping eCommerce space.
Marketplaces struggle to captivate a large audience using Livestream Shopping. The reason is the construct of these marketplaces, which are created to simplify online shopping with search. On Amazon, for instance, shoppers are proactively searching for products rather than discovering them via content-driven shopping. What they want to buy is clear to them, and they simply search for the best deal.
There is a complete mindset shift compared to consumers who are well-versed with live commerce and know what to expect from a Brand selling via a live shopping platform. Furthermore, leveraging various content strategies like storytelling, offering limited-time discounts, hosting live contests and giveaways, etc enhances engagement and improves shoppers buying decision process. Brands leveraging Live Commerce on their website/app captivate large audiences and hence significantly dominate the Livestream Shopping eCommerce space.
Many of our Customers have already achieved success with Livestream Shopping on their own stores and are seeing Sales, as well as Buyer Traction, grow from their Live Shopping Shows month-on-month.
❌ Myth #3: Bringing celebrities/influencers to Live Shows is going to bring more Sales.
✔️ Reality: Live Video Shopping is more effective at increasing Sales when a knowledgeable host builds authentic and organic connections with buyers.
In today’s creator economy, influencers have disrupted the field of celebrity-led brand promotions via social media. However, the new-age consumers i.e Gen Z and Millennials despise anything that carries a ‘sponsored’ tag. Brands are also less likely to benefit from prominent influencers anymore when it comes to selling their products.
Instead, having a host simply from your team who can highlight your products’ key features, and USPs and demonstrate how they solve buyers’ pain points can be more effective. A brand can work with hosts that know their products well, create engaging content, announce giveaways, host interviews, launch or promote products or recommend products, etc. Brands can also have Sales & Marketing Team Members, Founders, etc as their host.
❌ Myth #4: Live Stream Shopping Requires a Professional Studio and a Video Team.
✔️ Reality: Livestream Shows can be produced quickly from your storefront using a camera and a Live Commerce Platform.
Live Shopping Shows are widely believed to be expensive to produce, require professional filming equipment, and celebrity hosts to host shows in proper studio settings.
This suggestion couldn’t be further from the truth.
Learning from China’s successful model, good quality, highly engaging Live Shopping Shows can be created using a Livestream Shopping Platform, a simple camera or phone, and basic lighting from the comfort of your home or storefront. It is nice to have a professional setup but it’s not a must.
Stress not we have got you covered in this Blog.
❌ Myth #5: Live Streaming is used mainly for driving Sales.
✔️ Reality: Apart from driving Sales, Live Shopping is an effective Marketing Tool and it supercharges Brand Awareness and Customer Retention too.
Brands across industries and sizes benefit from this new form of retail. It provides positive results for both the short term and the long term. In the short term, it helps improve Sales Conversion Rates and increases Traffic, while in the long term, it leads to brand authenticity, and loyalty, and builds more substantial and long-term relationships with prospects leading to a stable Revenue Stream.
❌ Myth #6: Only Fashion and Beauty Brands can attract people and drive Sales via Livestream Shopping.
✔️ Reality: Brands from different Industries, such as Consumer Electronics, Health and Fitness, Travel and Hospitality, and others, are increasingly using Live Commerce to drive Sales.
This is just another Live Stream Shopping myth that restricts brands from going live and engage with their shoppers. It is generally due to the fact that Fashion and Beauty Brands often launch products through Live Stream Shopping and there are more success stories of them with Live Commerce.
Any brand, whether it deals with electronics, kitchenware, or anything else you can think of, can generate the same hype. In fact, this year, many retailers and brands from different sectors are rising and Selling Live.
Live Commerce Myths Debunked!
Through this article, we have tried highlighting all the Myths and the Realities of Live Stream Shopping. And we hope this will help you utilize the powerful new way to sell online that combines the best of physical shopping experiences with the convenience of online shopping.
Would you like to explore what Channelize.io can do for your Brand? Request a DEMO today!