Due to the coronavirus crisis, new ways of selling are flourishing and one of the best examples is the e-commerce live streaming. Protection measures in most countries have forced many stores to close their establishments for weeks or months. Since then, many are already relying on this online broadcast format to connect with your potential buyers without the need to share physical space.
What is live streaming eCommerce
Live streaming eCommerce consists, neither more nor less, than taking advantage of live broadcasts on the Internet to promote or sell products and services. This format is similar to teleshopping adsbut the big difference is that, in this case, the communication is bidirectional and interactive. The seller can demonstrate products, bring testimonials and answer questions from users in real time.
It is more immediate. Buyers don’t need to call for more information or to purchase, everything is at your fingertips. click touch. Viewers can purchase the product from a link that appears during the online broadcast. It’s like telepromotion adapted to the 21st century and new digital media. Live streaming for e-commerce can cover any product worth its salt, ranging from clothing and groceries to electronics or cars and much more.
The 4 great advantages of online live streaming
In the case of live streaming commerce, everything It is accessible to any company, big or small. For example, with a traditional television advertisement, a high budget is usually needed, and with this format It is not indispensable. In addition, there are other factors that add in favor:
- people pass long time browsing online: especially in times of confinement.
- And much of that time is watching videos: only on YouTube, each user spends a few
- Live streaming eCommerce makes shopping easy: for example, it is much easier to find a seller who is an expert in what they want to buy and the purchase transactions are quick and easy.
- Live streams for eCommerce are not only personalized, but concern something more personal: they involve two-way conversations where what the viewer/consumer has to say is listened to and valued.
The great challenge that companies face with this format
Despite the fact that live streaming has multiple advantages, many companies are reluctant to use this form of promotion because they feel insecure not controlling everything during the broadcast. Anything can happen and of course something can always go wrong.
However, in this context people don’t expect perfection. In fact, mistakes can cause brands to become more natural and authentic in the eyes of the spectators. Much more than a too corseted presentation.
Thus, sellers can start by Facebook or Youtube to demonstrate your product and show viewers how to buy it. In this way, you can help create enthusiasm around the product and, above all, to build trust through demonstrations and testimonials. In the worst case, you can always hire a professional live streaming company, they can help the selling companies with the streaming program.
Live streaming eCommerce has already taken off (successfully) in China
The crisis caused by covid-19 has forced many sellers to think of alternatives such as live streaming eCommerce, but the truth is that this format not only serves as a tool to “survive” in exceptional circumstances like these, but it is a real opportunity to prosper. As seen in Asia.
experiencing a growth of 71.2% in one year. In fact, live streaming purchases exceeded 54,000 million euros during 2019. This is equivalent to 9% of e-commerce sales and 1% of total transactions of goods and services in the Asian country. This figure is expected to multiply in the global of 2020.
Likewise, the Chinese giant has revealed that in February (in the midst of the coronavirus crisis), the use of its eCommerce live streaming platform had increased a spectacular 719% in China
Live streaming eCommerce is a real opportunity to make business prosper
As you can see, it seems that the pandemic is forcing the adoption of digital platforms like the live technologies. And that affects that this format is gaining more and more popularity. I could guess a unique occasion for retailers -especially the physical- dare with new sales channels for don’t fall behind.
Live streaming eCommerce is something new in the West. It is not really known if this new online sales format is going to catch on as it has in China, but for all those companies that are struggling to survive in this period of recession, it may be the key moment to experiment. Even for those who want to turn their business around. In fact, those brands that do not adapt to online live streaming, could pay for it dearly in the medium and long term.
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