The Future of Shoppable Video Streaming: Predictions and Trends to Watch
Shoppable video streaming apps and live video shopping have emerged as a powerful new trend in the e-commerce world. These technologies allow retailers and brands to showcase their products in a more engaging and interactive way, while also offering consumers a seamless way to shop in real-time. One such platform that has gained a lot of traction in recent years is buywith. This live shopping platform enables brands to sell their products directly through live shopping hosted events. In this article, we will explore the future of shoppable video streaming and live video shopping, and discuss the trends and predictions we can expect to see in the coming years.
Shoppable Video Streaming: An Overview
Shoppable video streaming is a form of video content that includes clickable links to products, enabling viewers to purchase items directly from the video. This type of content has become increasingly popular in recent years, particularly in the fashion and beauty industries, where brands use influencers to leverage shoppable video streaming and showcase their products and increase sales.
Shoppable video streaming has proven to be an effective way to engage consumers, as it allows them to discover products and make purchases seamlessly. In fact, a study by Wyzowl found that 85% of consumers would like to see more shoppable video content from brands.
The key to successful shoppable video streaming is to create content that is both engaging and informative, while also making it easy for viewers to make purchases. This can be achieved through the use of interactive elements, such as clickable product links, live chat as well as clear calls to action.
The Growth of Shoppable Video Streaming platforms & Apps
Shoppable video streaming apps have gained immense popularity over the past few years. Platforms like Instagram, Facebook, and TikTok have launched their own shoppable video features, allowing users to buy products directly through videos. According to a report by Coresight Research, global social commerce sales are expected to reach $80 billion by 2024, up from $36 billion in 2019. The rise of shoppable video streaming platform and apps has played a significant role in this growth, as more and more retailers and brands are using this technology to connect with consumers in a more engaging and personalized way.
One of the key advantages of shoppable video streaming platform and apps is that they enable retailers to showcase their products in a more dynamic and interactive way. By using video, brands can give consumers a better sense of what their products look like in real life and how they can be used. Additionally, shoppable videos can be used to tell a story or showcase a lifestyle, which can help create an emotional connection with consumers.
Live Video Shopping: The Next Big Thing
The next big trend in this space is live video shopping. Live video shopping enables businesses to sell their products directly through live video broadcasts, allowing consumers to make purchases in real time. One of the key advantages of live video shopping is its social interactive aspect where influencers representing the brand interact with the customers in real-time and demonstrates every detail of the product.
Live video shopping has indeed been gaining popularity and is likely to continue to do so in the near future. By combining the power of live video streaming and e-commerce, retailers and brands can offer consumers a unique and engaging shopping experience.
In addition to creating an interactive social experience and boost sales through an unique way of product discovery and by creating a sense of urgency. Also, live video shopping can also build trust between retailers and consumers. Seeing a product in action, being able to ask questions in real-time, and receiving immediate feedback from the seller can help consumers make more informed purchase decisions.
Platforms like buywith, offer businesses a way to easily integrate live video shopping into their e-commerce strategy. In addition to an innovative platform, the key success factors of a good livestream is to offer a deeper and a personalized understanding to all customers.
Overall, live video shopping is a trend worth paying attention to, as it is revolutionizing the way we shop online.
Live Video Shopping: Boost sales and increase customer engagement
While shoppable live video has become increasingly popular, creating a sense of urgency is a powerful way to drive sales and engagement during a live video shopping experience. Here are some ways to create engagement during live video shopping:
- Live-only deals: Offer a discount or a special promotion for a limited time during the live video shopping experience. This can create a sense of urgency and encourage viewers to make a purchase before the offer expires.
- Limited time offers: Offer exclusive deals that are only available during the live video shopping experience. This can encourage viewers to make a purchase during the live event to take advantage of the special offer.
- Limited stock: Highlight that there is limited stock available for the products being showcased during the live video shopping experience. This can create a sense of urgency among viewers to purchase the product before it sells out.
- Flash sales: Introduce flash sales during the live video shopping experience. These are short-term sales that offer deep discounts for a limited time, usually a few hours or less. This can boost sales among viewers to purchase the product before the sale ends.
- Countdown timers: Use a countdown timer to create a sense of urgency during the live video shopping experience. This can be used to highlight limited-time offers or flash sales, and can encourage viewers to make a purchase before the timer runs out.
By implementing these strategies, live video shopping experiences can encourage viewers to make a purchase, increasing engagement and sales.
Trends to watch in shoppable video streaming
Shoppable video streaming is becoming increasingly popular as more consumers turn to online shopping. Here are some trends to watch in this space:
- Innovative live shopping platforms:
Shoppable video streaming is moving beyond simple product showcases and becoming more interactive, with features such as 360-degree product views and virtual try-ons.
- Social commerce:
Social media platforms are increasingly integrating shoppable video streaming features, allowing users to shop while watching live videos from their favorite influencers.
- Mobile-first experiences:
As more consumers shop on their mobile devices, shoppable video streaming is being optimized for mobile, with features such as mobile-friendly interfaces and vertical videos.
Overall, shoppable video streaming is a rapidly evolving space, with new features and trends emerging all the time. As consumers continue to embrace online shopping, shoppable video streaming is becoming an increasingly important part of the retail landscape.
In conclusion, the future of shoppable video streaming looks promising, with new trends and innovations emerging to enhance the shopping experience for consumers. Shoppable video streaming apps are becoming more interactive and personalized, with features such as “Shop with me” for an exciting journey by the influencer . Live video shopping is also gaining popularity, with platforms like buywith enabling retailers to connect with consumers in real-time and drive sales. As technology continues to advance, we can expect shoppable video streaming to become an increasingly important part of the retail landscape, providing consumers with a seamless and engaging way to shop online.
VP Sales & Customer Success at buywith
Daniel Hillyer is the VP Sales & Customer Success at buywith, a leading live shopping platform and creator marketplace. With over 12 years of experience in SaaS sales, Daniel is a highly skilled professional in the realm of livestream shopping, dedicated to delivering flawless customer experiences and pushing the boundaries of innovation within the ever-evolving e-commerce arena.
Reviving Social Shopping: Insights from buywith Co-Founder and CEO Adi Ronenat The Lead Innovation Summit 202315/07/2023
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