Businesses are always looking to get the most out of their investment. They want to expand their customer base, create excitement, and be attentive to the needs of their shoppers without blowing their budget. But what happens when something comes along and turns the industry on its head? The business of buying and selling products online has changed with the advent of live streaming on the internet. There’s a new game in town and it’s called live shopping.
What Is Live Shopping?
Traditional brick and mortar stores are based on the idea that customers hear about your store, travel to your location, come inside, look at your products, then decide if they want to make a purchase. With live shopping, an interested shopper can check out your store online through a streaming video link and purchase items all from the comfort of their own home. The live store is open for a limited time and the viewer watches a program created by the owner of the store. In most cases, the owner, a host, or both, speak to the viewers about the benefits of several products and the viewers can interact through live chat or call in. The host can offer discounts for those watching and the viewers know they’re part of a fun, exciting, event.
What Are the Benefits of Live Shopping?
First, there is no limit on your audience. In a traditional store, there is a specific number of people who can fit into the building at one time. Usually determined by the fire department. On the internet, the live shopping store can handle as many viewers as want to tune in. No fire marshals here. The store owner doesn’t have to shell out rent for a physical location, they just pay for a webcast and are able to accommodate everyone. It’s much more economical for the owner and they’re able to reach shoppers worldwide, not just those who live nearby.
What Makes Live Shopping Different?
Live shopping is a unique experience an owner can create and tailor to their exact audience. What is your product? Is it fun? Silly? Elegant? Technical? You can create a show with those aspects in mind. You can choose a host, even a celebrity, who is popular with the people you are trying to reach.
You can build excitement around your live shopping experiences. If you promote to a targeted audience across social media, you can attract viewers who will be interested to see what all the buzz is about. With each broadcast, you can create a loyal following who won’t want to miss the next one. The viewers see themselves as part of a special community of people in the know who love your products and the way you present them. Hopefully, they tell others and your live shopping numbers will grow.
People Feel Like They’re a Part of Something
One of the big benefits of live shopping is interaction. With live chat, you are creating an experience where a customer can not only watch, but also take part. They can ask questions and make comments. When someone shares how much they like one of your items, everyone else sees that. The buzz starts to build and the excitement level goes up. That translates to more sales as well.
You’re In Control of Messaging
When someone views a product on Amazon, they’re limited by the photos and written explanations of the item. With live shopping, you can demonstrate exactly how a product works, how it should look, how it should operate, everything about it. If someone has a question, it can be answered immediately. There’s real time feedback and response and any confusion is cleared up. You can use that feedback to adjust your future broadcasts accordingly.
Creating Unique Opportunities for Buyers
Another benefit of live shopping is the limited time aspect of each broadcast. It creates an opportunity to offer discounts, but only for as long as the show is running. This heightens the excitement of the viewer and increases their impulse to buy. Fear of missing out takes over and they won’t want to let a chance at a great deal go by. It’s as easy as clicking on the shopping cart icon on their screen.
Act Now!
Live shopping provides many different avenues for sellers to maximize profits in an economical way. Not being bound to a physical store location, they can instead funnel that money into making the best broadcast they can create. They promote and tailor it to their audience while building excitement through special deals. This creates a sense of community for their shoppers, who become repeat buyers. It’s a fresh innovation in the online shopping world that is quickly gaining steam and allowing sellers, who previously wouldn’t have had the means to do so, to become extremely successful.
