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Livestream shopping is a growing trend that has taken the world by storm in recent years. With the emergence of social media platforms, it has become increasingly easy for businesses to connect with their target audience in real-time through livestreams. Livestream shopping combines the convenience of online shopping with the interactive experience of brick-and-mortar shopping, allowing customers to browse and purchase products from the comfort of their own homes. In this article, we will take a closer look at livestream shopping in 2023 and explore its potential impact on the retail industry.
What is Livestream Shopping?
Livestream shopping is an e-commerce model that allows customers to watch a live video of a product being demonstrated or reviewed by a host or influencer. Viewers can then make purchases directly from the livestream, without having to leave the platform. The host can interact with viewers, answer their questions, and provide product recommendations in real-time, creating a more personalized shopping experience.
Livestream shopping has become increasingly popular in Asia, particularly in China, where the market is projected to reach $300 billion by 2023. In the US, the trend is still in its early stages but is expected to grow rapidly over the next few years.
Benefits of Livestream Shopping
Livestream shopping offers several benefits for both businesses and customers. For businesses, it provides a new way to connect with their target audience and generate sales. Livestream shopping can also help businesses to build brand awareness and establish a loyal customer base. By showcasing their products in a live video, businesses can provide customers with a more immersive shopping experience, which can help to increase sales.
For customers, livestream shopping offers the convenience of online shopping combined with the interactive experience of brick-and-mortar shopping. Customers can ask questions and get product recommendations in real-time, which can help them make more informed purchasing decisions. Livestream shopping also creates a sense of community, as viewers can interact with the host and other viewers, share their opinions and experiences, and provide feedback on the products being showcased.
Livestream Shopping in 2023
In 2023, livestream shopping is expected to continue its rapid growth and become a mainstream shopping method for many consumers. As social media platforms continue to integrate e-commerce features into their platforms, livestream shopping will become even more accessible and widespread.
In addition to traditional retail businesses, we can expect to see more small businesses and independent creators using livestream shopping to reach their target audience. The rise of social media influencers has already had a significant impact on the retail industry, and we can expect this trend to continue as more influencers use livestream shopping to promote products and connect with their followers.
We can also expect to see advances in technology that will make livestream shopping even more immersive and interactive. For example, augmented reality (AR) and virtual reality (VR) technology can be used to create a more immersive shopping experience, allowing customers to see how products would look in their homes or on their bodies before making a purchase.
Live Shopping Apps
There are several apps/platforms that allow consumers to buy products in real-time. Typically, they are used by eCommerce retailers to allow customers to view and purchase items from their mobile devices. The apps can be used by consumers in several ways, including ordering items, socializing with friends and family while shopping and even sharing pictures and reviews of the products and shopping experiences. Below are some of the most prominent live-stream shopping apps you can hop on today:
CommentSold
CommentSold is a live-selling software solution that also supports social selling. It’s been around since 2017 during which it has helped more than 4,000 retailers to generate billions in sales.Â
Instagram Live Shopping
Popular social media platform Instagram took its Shop feature further by introducing its Live Shopping feature in 2020, allowing businesses to sell products directly on Instagram Live.
Channelize.io
Channelize.io allow brands on Shopify, WooCommerce, and Magento to enable livestream commerce on their site by integrating live shopping into an existing site or launching as a standalone video shopping app and website. Channelize.io also comes with a mobile app to enable show hosts to lead a livestream shopping event from anywhere. Retail associates, influencers, or hired hosts can all host a livestream shopping party without needing to be in the retailer’s physical space.
Amazon Live Shopping
As the top E-commerce platform in the world, Amazon would be sure to get involved in this new trend by launching Amazon Live, a feature that allows sellers to increase their product discoverability by creating shoppable videos.
Go Instore
Go Instore is another hybrid one-to-one and one-to-many live shopping solution, they are a video-first solution as opposed to a chat function with video added. The app allows consumers to easily transition from one stream to another and allows sellers cross-stream live shopping parties to other channels for maximum exposure.
Livestream shopping is a rapidly growing trend that has the potential to revolutionize the retail industry. By combining the convenience of online shopping with the interactive experience of brick-and-mortar shopping, livestream shopping offers a unique and engaging way for businesses to connect with their target audience and generate sales. With the continued growth of social media and advances in technology, we can expect livestream shopping to become even more accessible, immersive, and widespread in the coming years.
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