Live Commerce is an evolution of online retail that gives e-merchants the ability to promote and sell their products in real time through video streaming. It's an ideal format for consumers who prefer to see a product in action and ask questions before purchasing — something that's often difficult to replicate in a standard online shopping experience.
According to an Ipsos survey, 72% of consumers hesitate to buy a product without having tried it first.
Commercial Animation Tools to Boost Your E-Commerce
To drive sales and maintain a continuous relationship with their customers, e-merchants can deploy a range of commercial animation strategies. These include promotional offers, private sales, social media campaigns, display advertising, gamification, and product demonstration videos. Live Commerce is the perfect example of an effective digital tool for stimulating customer engagement.
What Impact Does Live Commerce Have on Your Online Sales Platform?
Live Commerce can deliver significant benefits for e-merchants, including:
- Increased traffic and conversion rates on product pages.
- Enhanced perceived value of your offer through real-time expert advice.
- Higher accessories sales and larger average basket sizes, thanks to complementary product presentation.
- Longer visit durations and broader site audience.
- Growth in social media followers.
- Improved organic search ranking.
Studies have shown that Live Commerce can positively affect all of these indicators.
Live or Replay: Which Is Better?
Live Shopping capitalises on immediacy, but broadcasting replays on product pages or social media also extends your reach to a much wider audience. For example, Fnac Darty presented Microsoft's Xbox live to 5,500 viewers, while the replay was subsequently watched by over 12,000 people.
According to Forbes, 90% of consumers say video helps them make a purchase decision. Moreover, a product page with video generates 37% more add-to-cart actions than one without.
By combining entertainment with high-quality product information, Live Shopping wins over consumers and drives them to buy. For e-merchants, this new channel is a growth lever with a meaningful ROI.
China has already proven the point: Live Commerce accounted for 4% of all e-commerce sales in 2019 — $61 billion — and nearly tripled in 2020 to reach $170 billion, according to iResearch. Find out how you can leverage Live Commerce to boost your sales.
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