Livestream Shopping: A Growth Strategy for Brands in 20225 min read
As calendars flip to 2022, opportunities have opened up for Ecommerce Brands and Retailers to hone their Sales and Customer Experience while increasing their efficiencies through Live Stream Shopping.
The above fact clearly shows that brands can facilitate ample sales by activating Livestream Shopping in 2022. Let’s dig deeper and decode why Livestream Shopping can be a Growth Strategy for Brands in 2022.
Table of Contents
Covid-19 changed Shopping Behaviours
A brand new customer segment has been born out of the COVID-19 pandemic who is hungry for seamless, personalised and above all entertaining shopping experiences online. Consumer demands and purchase behaviours are shifting and hence today buyers not only look to buy products but they also expect delightful shopping experiences.
When making a purchase, consumers consider factors such as personalization, better product experience, convenience, entertainment, real-time connection with sellers, etc. And Live streaming commerce is a solution that is not only satiating but is spearheading this movement.
Inaccessibility of Physical Stores
The COVID-19 pandemic has upended the retail industry, forcing the closure and inaccessibility of physical stores to many buyers. This increased the urgency for retailers to not only expand their online presence but also offer an online experience that mirrors in-store shopping experience. Livestream Shopping matches the product experience of physical stores and at the same time offers many additional benefits like convenience, shoppertainment, creates a sense of urgency and much more.
Shopping approach of Gen Z Shoppers
A majority of Generation Z members were born with smartphones in their hands, and they approach shopping in a completely different way. Let’s examine some of these approaches.
Gen Z expects a shopping experience that offers convenience.
Gen Z is a generation of impulse purchasers, with almost 60 percent admitting they have made non-planned purchases ‘in the moment’.
Gen Z value trustworthiness, authenticity and interactivity and they choose brands that align with their values and preferences.
Gen Z prefers to be entertained, learn new things and experience the realness of products while shopping online.
Live Video Shopping is definitely the blend of all the things that Gen Z demand and love the most.
Read More: Live Streaming Commerce as a Sales Enable
Having an eCommerce business is no longer a luxury, it is an essential requirement that a retailer must bring in sales. The pandemic boosted online spending by $183 billion over the past year, and it has permanently accelerated e-commerce, with Americans on track to spend $1 trillion online – a record amount – in 2022, according to a new report by Adobe.
This is emphasizing that ecommerce in 2022 will be a driving force to generate sales. Also ecommerce will level up the playing field for brands with direct-to-consumer business models that can deliver a stellar online experience.
However, thriving in this growing ecommerce landscape will require strategies that offer personalization, improved and differentiated shopping experiences to customers. Here is where Live video shopping comes into play and can help brands make the most of this growing ecommerce market in 2022.
Growing Influencer Market
Influencer Collaborations offers a fresh and effective way to generate sales and is growing immensely. When a well-trusted influencer collaborates with a brand, it’s almost impossible for audiences to look away. Hence 2022 will be the year of brands really finding their groove with live stream shopping and this includes collaborating with influencers.
Live streaming ecommerce in 2022 will give influencers an opportunity to communicate with audiences thoughtfully in real-time, allowing room for participation which fosters authenticity and leads to better sales.
Evolving Skills of Sales Team
Live Shopping requires a Host to Go Live with Shopping Shows. With the growing trends of Social Media, members of your Sales Team would also now be comfortable to Go Live with your Shopping Shows.
Thus in 2022 brands will begin to leverage people from within their team to host a livestream show with great success. There is no one more educated on a product, and no one more passionate about the brand than those who work with a brand itself. This is also a fantastic opportunity for brands to connect with their community.
Internet is becoming faster
Internet speed has grown incrementally over the last few years and will continue to increase in 2022. Currently, the global mobile Internet average speed is 63 Mbps, while the fixed broadband is 113 Mbps.
With 5G maturing and optical fibre penetration increasing, these numbers are only going to go up. The speeding up of the internet will ultimately facilitate more usage of mobile devices in 2022. Here is when more and more brands can leverage live streaming commerce and sell live via mobile apps.
Customer Advocacy is the need of the Hour
The strategy behind Customer Advocacy is that if a brand advocates its customers, they will reciprocate with their trust, loyalty and purchases. Customer Advocacy has become the need of hour both for brands and shoppers in 2022. For brands, customer advocacy makes brands trustworthy, which eventually facilitates repurchases, increases customer loyalty, reassures new customers and improves ROI.
Furthermore, Customer advocacy leads to customer satisfaction and better-informed consumers who feel more confident about buying products from brands.
Live Streaming Commerce is an effective tool for educating customers about products and services in real-time. This can help brands drive real business results as customers will be more inclined to trust a brand.
Wrapping it Up
One of the biggest trends of 2021- Live Streaming Commerce is expected to continue to grow in 2022. And the blog clearly justifies WHY.
Live Streaming Commerce is a perfect business strategy for brands across industries to remain competitive in 2022. Channelize.io Live Stream Shopping Platform is the solution that can help you reap the benefits of this ever-growing trend and achieve faster business results.
Here is why choosing Channelize.io Live Stream Shopping Platform can be a smarter choice for your brand in 2022:
- We offer API, SDKs, and UI kits for integration in web and mobile applications
2. Our Platform is versatile and can be integrated seamlessly with any eCommerce platform. Plug-and-play integration plugins/apps are available for the popular e-commerce platforms like Shopify, WooCommerce, Magento and PrestaShop
3. To facilitate the whole process of integration and selling, we show our clients a free Demo of our Platform and demonstrate how to integrate it.
4. We offer powerful features like Simulcasting, Custom RTMP Support and Embed Shopping Shows and more
5. We offer a free plan that can be upgraded as you scale-up
6. So far 200+ Brands have witnessed incredible growth with Channelize.io Live Shopping Platform. Read our Client Success Stories to know more.