Live stream shopping is embraced by two key demographics-Gen Z and millennials, with 55 percent of the former and 62 percent of the latter saying they’re comfortable making a purchase from a brand’s live stream event. You can leverage an existing resource like a charismatic sales associate to host the stream and broadcast it on your website or over social media. It doesn’t cost much to run a live stream shopping event (particularly if you’re not using a well-known, and thus, expensive influencer). Live stream shopping provides a great opportunity for brands and businesses to connect with their customers ‘human to human.’ It puts a face to the brand, gives customers real-time insights about the products they’re buying, and adds an emotional connection to the buying experience that simply placing a product in a virtual shopping cart tends to lack. While eCommerce is easy and convenient, it’s not the best channel for fostering a real connection between consumers and businesses. Conversion rates for live stream shopping can be 10x greater than for conventional eCommerce. It enables brands to immerse viewers in the shopping experience and accelerate the customer buying journey from consideration to purchase via the use of time-sensitive or exclusive offers. The entertaining, educational, and interactive nature of live stream shopping translates to more digital sales. A hook such as a giveaway, contest, special offer, or featured guest can generate buzz and motivate people to watch your live stream instead of your competitor’s. It’s true that live streaming your products is a great way to connect to and engage with shoppers, but you’ll be competing with many other businesses, merchants, and brands for people’s attention. Live stream shopping is also a great way to sell luxury goods (think jewelry or high-end cowboy boots).Ī hook. This can be anything-from handmade soaps to athleisure wear. Obviously, if you’re running a live stream shopping event, you’ll need one or more products to showcase during the event. But anyone can host a live stream shopping event, making it an accessible way for small businesses to connect with shoppers. These days, that tends to be social media influencers and/or famous people, at least for those who have the budget to pay for them. UK FTSE 100 Companies share Prices WML Support Team Jan 17, 2019. You’ll need your own version of Bob Circosta to host your live stream event. World Market Live Explore the latest financial market trends and get real-time updates on stocks, commodities, currencies, and more. Businesses can host a live stream video event from their own website, use a dedicated live streaming platform, or use one of the many social live streaming solutions offered by companies like Facebook, TikTok, and YouTube.Ī charismatic host to run the show.
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