Live Commerce: The Future of E-commerce
This form of shopping initially started in China and market growth rising year by year. Covid -19 hurried the adoption of live commerce giving abundant space and opportunity for brands. Live shopping is a profitable revenue stream for the majority of the brands and store owners.
In this blog, we clearly explain why live commerce is so popular nowadays.
Let’s start with some basic information about live commerce.
What is Live commerce?
It is the online shopping experience that closely mimics in-person shopping. Using video live streaming and social media platforms for live shopping events allows businesses to create in-store shopping experiences. Buyers can watch products and chat in real-time to get an opportunity to ask questions which allows the brand to get responses immediately. An influencer or personality who acts like a fashionable version of a shopper’s favourite customer support staff.
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Why Live commerce?
Live commerce can drive shopping exciting and mesmerizing, allowing users to interact, build a group, and have conversations with each other. With further integrations & innovations around commerce, it could change shopping online from an activity to a form of shopatainment.
What is a short video in live commerce?
A human element like an influencer, celebrity, or store person gives a brief description of the product in a short video. Many brands are busy working on various e-commerce activities on Instagram and YouTube live streams with their clients. Brands will now be able to weigh the bump in sales with the success of live commerce where influencers and content creators are often seen talking about the product or service which can be bought in real-time. The majority of the live commerce platforms have an inbuilt live stream integration so that businesses have the option to go live stream and record their videos about the concerned products. By doing this, users watch the short videos and make a purchase. The benefit of a live shopping event is less likely to low return rate.
Nowadays consumers are likely to do shopping using live commerce platforms because they get an idea after watching the live product video and making informed decisions. This will make them entertained and get out of boring static websites or apps. Fashion and beauty are good examples of the boom in a live shopping environment. Live shopping events shouldn’t be informative, it should be fun then only there is a chance to boost high sales.
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Is it necessary to build our own live commerce application platform?
It is not necessary to build your own app or website to promote your brand or store. There are some well-known live-streaming shopping apps and websites in the market to skyrocket your sales by using their monthly, annual, or commission-based subscription. The best way to promote your products is on well-known apps or social media platforms using influencer marketing or on your own. Some of the channels are specialized in selling home goods, fashion, beauty, and more. The channels had their hosts and, when celebrity-backed products began to circulate in the market, influencers would appear on these platforms to dip directly to customers.
Remember, using unknown apps or websites to ruin your brand’s reputation. Instead of using this, recommended choosing social media apps like Instagram, Facebook, and YouTube for live streaming and advertisements.
Some of the popular dedicated live-shopping platforms are available to market your brand or store in India:
Big giants like Flipkart also join this form of commerce and they partnered with MOJ a short video app to enable video and live commerce experiences. Meesho and Myntra also building a live commerce platform for influencers to increase sales.
Want to build live commerce applications like Shopshops, Talkshoplive, Popshoplive, etc. HA TAX is here to help you to build an application with differentiating features and design a prototype for you on top of that from Company Registration to annual compliances, we take care of everything.
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