Livestream Shopping Platforms are Game Changers for the Business Sector

Can you imagine looking at all the features & specs and asking about your favorite product on a live video before deciding to buy it? Livestream platforms give you the chance to connect online from anywhere in the world with influencers and take your shopping to the next level. The business sector is hugely benefiting from livestream shopping marketing by attracting worldwide customers.

It’s a brand-exposed livestream shopping feature that enables consumers to discover the brand’s products on the live event, through the host. This new form of e-commerce allows brands and retailers to present their products and services to a larger audience through hotels live events.

Live shopping events are hosted by influencers on the brand’s website and they allow users to interact with the influencers. Live shopping events are hosted by influencers and they allow shoppers to interact with them and shop in real time, along with other shoppers in the community. Shoppers can shop live with the major display and demonstration of products. Also, shoppers can comment and share emojis and gifs on the live chat.

With brand exposure livestream shopping the live social shopping industry is expected to grow rapidly with U.S livestream expected to reach $25 billion by 2023.This is likely to result from increasing consumer demand for convenient shopping experiences to shop with influencers online and the increasing number of retailers looking to expand their online presence. 

• Boost sales: Increase conversion by discovery, through the influencer host and the community of shoppers in the Live shopping event. Present shoppable features to make the purchase process fast and seamless.
• User acquisition: Unlock access to new customers – generate a database of shoppers from each livestream shopping event, utilize the influencers followers to reach new target audience and enrich your database.
• Increase engagements: Connect with your customers in real time and elevate the communication with interactive and gamification features.
• Decrease return rates: Increase trust and close the gap of uncertainty when buying online by product demonstration and discovery in the Live shopping event. Reduce return rates and create a more sustainable way to sell online.
• Monetize influencer activity: Get access to insightful metrics that will allow you to monetize your influencer activity.

• Technical errors: Technical errors can occur while streaming live. If the internet connection is slow on either end, then the video will buffer and the quality will be compromised.
• Timing: Unmatched timing is one of the cons of livestream because if you are catering to worldwide customers, there are different time zones and timings may not match. Also, it can be difficult to decide when the right time is to stream.

1. Engage with Customers:
   The most important advantage that brands can have is to engage with customers and be more informative about its brands’ products and services through leading influencers online.
2. Monetize Influencer Activity:
   Influencers can monetize their promotional activities and get paid by the brand. This can bring them more online fans and earnings.

3. Build trustworthiness:
   Brands are always looking to build trust with customers. Shopping platforms can help brands build trust by providing detailed product descriptions/product photos and transparent vendor information.

4.  Increase Conversion: |
   Livestream improves conversion rate effectively because it drives businesses higher than traditional platforms. Livestream platforms help brands promote their sales.

5. Reduce return Rate:
   Brands can reduce return rate by improving customer experience through livestreams and boost sales at the same time.

6. Engage with customers:
   Livestream shopping platforms can help brands engage with customers by exhibition of the products and services through famous influencers.