Live Commerce: Making its Way into Fashion Industry
This article will talk about the latest trend of live streaming e-commerce Shopping and how it is making its way into the future of the fashion industry.
The live streaming sector grows by 99% every year in terms of hours watched. It grew from 1.97 billion in April 2019 to 3.93 billion in April 2020. This clearly shows how live commerce is expanding and gaining popularity.
Live Commerce is an influential way for retailers to establish their relationships with customers as it gives them an opportunity to showcase how authentic and credible they are. This gives brands a chance to reach out and interact with their target customers, especially in times where physical retail experience has become a challenge. Furthermore, going live with products improves the online shopping experience for your buyers which makes them stick to your brand.
Today, brick-and-mortar retailers are increasing their focus on technology and are considering the ways they can leverage live streaming eCommerce and interactive broadcasting to engage with their customers and increase sales.
Live Commerce Success Stories
Let us see some of the Live Streaming eCommerce success stories before we move ahead:
China being the very first market hit by the Covid-19 faced difficulties due to the closure of all physical stores. This urgency triggered the fashion industry to shift online for new solutions. Hence brands and retailers opted for live commerce to sustain their businesses.
Luxury brands like Louis Vuitton set up official live streaming sessions to showcase their products and to engage with their audiences. The more surprising case was the Shanghai Fashion Week that attracted 6 million on an opening day.
How to drive sales with live video commerce?
Engagement and interaction are the key elements for a successful live streaming show. If you want to build customer trust you need to engage with them on live streams. Here are few ways to make your live show successful and generate sales.
Use pre-event teasers
Before the main live stream show, your audience has to be notified about it and you need to generate a buzz around your show. This will generate a sense of excitement and will push audiences to be a part of your show.
You can release these teaser videos on your social media channels to gain more audiences and create brand awareness.
Collaborate with Influencers
Gaining the trust of your customers is vital for the success of your business, which can take you years. But you can easily get your consumers to trust you if you collaborate with the right influencers. Since these influencers spend a significant amount of time and effort building genuinely engaged followings, their followers trust their opinions and recommendations.
Hence collaboration can help you drive more sales and boost customer retention and loyalty.
Offer buy now discounts
Many people are impulsive buyers and they often make a purchase if they are in a good mood. Another reason to do so could be a limited time period discount offer. Hence offering discounts or deals to promote your product in your live video is an effective way to drive sales.
Stream to multiple platforms
Streaming to multiple channels opens a world of possibility for retail brands. Whether your goal is to reach new audiences or stay in touch with the existing audience on the platforms they prefer, simulcasting helps brands achieve it effectively.
Interact Outside your Live Streaming Session Too
During a live streaming session, your audience interacts with you in real-time. They send in their comments, participate in Q&A sessions and live polls, interact with hosts, etc. However, it is not necessary that they will always tune in to your live streaming session. Interacting with an audience outside a live video streaming session is essential to keep audiences captured and coming back to you. Here are some ways to do so:
- Engage with your customers on social media
- Follow up with email newsletters
- Leverage push notifications
- Share clips from the past event
- Share teaser videos of the upcoming show to build up excitement
Time to Begin
Live Video Shopping has proven to be particularly valuable for brands as it allows retailers based anywhere and with any expertise to reach audiences from all over the world and offer improved shopping experiences in real-time.
Channelize.io Live Streaming eCommerce solution can help you leverage the power of Video commerce and boost your product sales.
Hosting a Live Stream Show has a lot of perks in regards to getting your brand out to the masses and engaging with your audience in real-time. Furthermore, Live Shopping provides the audience with a better explanation of products.
What’s More?
If you are on Shopify you can leverage our Shopify Livestream Plugin and stream for free. Our Live Stream Shopping app will give your store the boost needed to widen your reach amongst buyers.
