Live shopping may have started in China, but now it’s picking up steam around the world. According to some studies, around half of companies in the US and Europe report incorporating live shopping into their strategies in 2021 or earlier, and livestream platform Bambuser says livestream-shopping viewership is growing by ~38% every quarter in 2022.
Brands are using live shopping to increase sales and customer engagement year round, but with the holiday season looming, experts say it’s good timing for those who haven’t yet tested the livestream waters to jump in.
Here’s how experts say brands can get started and get the most out of their video content:
Dutta Satadip, chief customer officer at CX automation platform ActiveCampaign, said getting started with live shopping is a relatively light lift, even for smaller brands.
“Today, the cost of producing a good product demo—which is basically what livestream is—it’s relatively low,” Satadip, who helped launch live-streaming options at Pinterest, told Retail Brew. And it’s a great opportunity for small and medium-sized businesses to bring traffic directly onto their site, he added.
Adi Itach, chief marketing officer at live-shopping platform Buywith, said livestreams provide a more effective alternative to social media ads. “This is not a banner on Facebook or Instagram that is chasing after you,” she told Retail Brew. “We’re not fighting on eyeballs; we’re bringing the users to us.”
Start early, start basic: Yaniv Navot, CMO of marketing-software provider Dynamic Yield, said even brands with small budgets can use livestreams to stand out in a crowded holiday-shopping landscape.
Satadip advises companies to feature their core products until they have a better understanding of just how successful the events will be. If sales are unexpectedly high, brands likely have enough inventory of the core products to meet demand. And there’s a longer horizon to sell those products in case the first livestream doesn’t meet expectations, he said.
Liz Ritzcovan, chief revenue officer at text messaging platform Hustle (which recently launched a video component), said brands should use video shopping to rope in their existing audience for the holiday season.
“It’s the low-hanging fruit because they are customers that are already connected to you as a brand,” she told Retail Brew. “They know who you are, there’s trust, there’s that connectivity already happening.”
Reuse and recycle: Joel Leonoff, co-founder and CEO of live-shopping platform Revo Video, said he advises companies to use the video from their livestreams beyond the event itself, but that doesn’t mean they have to redo their strategy for the season.
First published here
Brands are using live shopping to increase sales and customer engagement year round, but with the holiday season looming, experts say it’s good timing for those who haven’t yet tested the livestream waters to jump in.Learn More
Revo Video has turned that storytelling into a shoppable moment with a one-click experience that boosts conversion by keeping eyeballs on the content and away from checkout screens. Revo Video’s goal is to eliminate the “six steps to checkout” by giving shoppers a one-click way using any payment method, including international payments, as the point of inspiration.Learn More
Revo Video, a disruptive technology company in the emerging live shopping industry, officially launched today with its live and video-on-demand (VOD) shopping platform for brands, creators, and consumers who want to seamlessly communicate, interact and shop—all in one place.Learn More
From the early days of the Pocket Fisherman to the ShamWow infomercials of the early 2000s, marketers have understood the power of video. The trick has always been how to convert those eyeballs into customers.Learn More