Many physical stores closed their doors at an unprecedented rate due to the pandemic and changing shopping habits. Now, as the dust settles post-pandemic, it is important to realize that “business as usual” is no longer an ideal option. Retailers need to engage customers online and provide a unified experience. It is also important to recognize new chances for interaction that are independent of the storefront.
You may wonder what aspects of the shopping experience are lost when shopping in the digital world. It is no secret that shopping online is convenient. However, some experiences such as a trip to the shopping mall with your friends, are priceless moments that cannot be imitated in the virtual world. Then there is also the issue of the need for proximity. The ability to feel, see or taste or smell a product has always played a major role in evaluating a product for sale. However, today these experiences have taken the back seat.
The advent of social media has changed consumer behavior by connecting buyers globally.
The idea of e-marketing took hold and the concepts of marketing via internet technologies were adopted. This new way of marketing allows you to define a more precise goal and modify each user’s experience.
Social media has changed communication by providing interaction and communication between community members through messaging, photo and video sharing in real-time and around the world. This setting allows consumers to generate content and businesses to expand into new markets and reach broad new customer goals. While there are some challenges, there is little doubt now about how far-reaching and integral an online presence is for companies.
Establishing your shop online has amazing potential nowadays. All you would need is an authentic Internet Service Provider (ISP) for your home or workplace. Cox, a popular ISP, offers many varied internet packages, that are pocket-friendly and give you high web speeds. Additionally, you can even benefit from their lack of long-term contracts, and customizable internet plans by simply calling the Cox customer service number. When your internet connection is set, it is easy to handle everyday online customer engagement and keep up to date on the trends.
According to research, the live streams are becoming increasingly popular for clothing, skincare, and beauty that is promoted by influencers. This inspires more trust among customers who consider the streamers to be experts. This allows them to collect more product information and discover new items they may not have considered before. With the rapidly evolving digital trends and technology it can be hard to keep track of what is new or outdated. So let us first see what live streaming is all about.
How does live streaming work?
Live broadcasts or streaming is becoming one of the most prevalent forms of product selling or promotion. Interactive and entertaining short product demonstration or review videos help bring the product to life and bring some of the “magic of shopping” right to your buyer’s screens.
Just as online shopping changed retail a few years ago, live streaming promises to transform the way we buy and sell products today. This union of video and retail helps increase engagement, bridge the gap between products and buyers, increase sales and, where bidding is needed, increase the average selling price. Other once-fancy tools have now become an integral part of e-commerce. Mobile applications and chatbots make online customer support easier. Machine learning technologies provide the tailored endorsements we all expect. Shipping overnight has also become a norm.
Role in e-commerce
1. Beyond fashion
Shopping via live streaming can remove barriers to shopping that other e-commerce experiences simply do not offer. Virtual tryouts, Q&A on beauty, and in-store demos can help homebuyers make faster decisions. While beauty and fashion brands pioneered live shopping, there are plenty of opportunities for supermarkets, large stores, and niche stores.
Live streaming is attractive because it brings companies closer to consumers engagingly and humanly. This experience helps a large number of customers who may not be able to go to the store or who favor shopping from home, creating greater accessibility for everyone.
There are two main ways to shop live. The live streaming platform is integrated with the reseller’s e-commerce channel or hosted by a third-party platform. By integrating the live shopping platform into a mobile app or custom site, retailers have complete control over managing inventory, shopping carts, and customer account information. It may be easier to implement using a third-party platform such as Facebook Live Shopping at first, especially if you already use these channels for sales. However, distributing the experience beyond your website may be less attractive in the long run.
Moving away from proprietary platforms means giving up control over the entire customer experience, including the ability to personalize and re-engage. It is also a missed opportunity for data collection and retargeting.
There is great potential to get higher audience interaction during live streams and consequently boost sales. There are many live-streaming platforms that you can choose from, based on what aligns with your strategy. They offer you the luxury of selling products or services online at lower costs and higher outreach.
Live streaming is not a thorough imitation of in-store purchases. Nevertheless, in an economy where customer experience determines which brands survive, why not reach out to customers on your terms.