featured image
How Live Video Commerce increases the conversion rate for stores?

 eCommerce has entered the era of “experience shopping,” in which consumers expect online shopping to offer an experience that prioritises fun over function. Among the various tools used for experiential shopping, shoppable video is a powerful tool for customer acquisition, brand positioning, and awareness. Given such a wide range of growth-oriented possibilities, many brands and retailers stand to benefit from integrating shoppable video into their branding and marketing strategy. 

Technologies evolve with time, merchants as well as consumers are now shifting to Live Video streaming which are the most effective way of demonstrating a product and its benefits to your visitors. They provide as much information as possible about your products. The entire world is revolving around numbers today so let’s look at some of the amazing stats around Live video streaming: 

  • 62% of consumers watch product review videos before making a purchase.
  • 84% of consumers surveyed were convinced to buy a product or service after watching a brand’s video.
  • 97% of video marketers reported that video increased user understanding of a product or service, and 76% reported video helped them increase sales.
  • 265 million Chinese internet users buy goods via live streams starting 2020.
  • The live streaming industry is expected to be valued at 184.3 billion dollar by 2027.
  • 63% of Millennials watch live streaming content regularly, making them the largest group of consumers of live content.


The above facts easily depict that today Live Video Shopping is the new normal and helps to increase the conversion rate manifold.

  • Live Video Streaming boosts the consumer trust: Be honest – sometimes you don’t buy an item because you’re not sure you’ll get exactly what you’re promised. What if the size is not adequate? What if the colour is different or the quality is inappropriate? These what ifs refrain us from purchasing the particular product online. Video streaming provides the proof online shoppers need to seal the deal. When you show a product in action, users can more easily imagine themselves using that product. That personalised approach by a brand towards consumers not only increases trust but also compels him to be a repeat customer of the product.




  • Videos are shared more often than any other content: Even in this digital world, word of mouth has maintained its supreme place. When your friend purchases a product from a particular place, you are compelled to at least check out that space. Hence, positive reviews are always too crucial in garnering more sales. The very fact that video content is being shared on social media 1200% more times than any other content depicts the importance of live streaming in the e-commerce ecosystem. 
  • Videos drive more engagement than images and texts: Images create only a visual impact which persuades us up to only 50% to make a purchase but videos are both auditory and visual which grabs the attention better than any other content. It also allows us to tell a more complete story, building a narrative, building emotion, and provoking action more effectively. It is more or less like an offline shopping experience where the seller can interact with the buyer and create a liasoning. And it is a burning fact that liasoning brings in more buyers than any other strategy. Hence video streaming can increase the conversion rate for sure. 


Take China as an example, where e-commerce live streaming began and has really taken off. Due to COVID-19, live streaming shopping has boomed and local e-commerce giants like JD.com have boosted sales by enabling live commerce on their platforms. In early May in China, sales via live streaming platforms reached almost $140 million, an increase of over 400 percent from 2019. Also in March, a high end brand Louis Vuitton live streamed its upcoming 2020 summer collection during a one-hour event via China’s luxury retail app and was highly successful. As demand continues to grow, businesses and solopreneurs will have no choice but to embrace this trend, though the sharpest ones are already ahead of the curve.





Leave a comment

Your email address will not be published. Required fields are marked *





Comments






Latest Articles

image
How an organic grocery store captured 806 visitors in just 20 minutes via live video shopping?

Our vision is a flame that we hold in our hands. It is our responsibility t...

Read Article
image
Why everyone is getting live video shopping in India all wrong?

I found myself on 100 Feet road in Indira Nagar, Bangalore a little over...

Read Article
image
Going shopping in the new world

A man shopping at a DVD store in New Delhi. As a child growing up in th...

Read Article
image
How a small town artisan made money in 15 minutes through live video shopping?

Meet Mayank Sadhwani,                               Owner of Indian Tul...

Read Article
image
How the E-commerce landscape Is changing from Text/Image- based to more Experiential?

Regardless of industry or digital avenue, thriving in today’s entrepreneur...

Read Article
image
What makes a true chai-wallah?

Photo by Jorge Garcia on Unsplash As an Indian, the above question is s...

Read Article
image
How has Baaz revolutionized live video shopping around the globe?

We have often found ourselves asking this question - “what important proble...

Read Article
image
How is Dr. Anjali Tayade making others step up their games in online shopping?

Meet Dr. Anjali Tayade, Owner of Arthita Bags Exploring new dimensions...

Read Article
image
How do you unite both Buyers & Sellers? Through a 5000-year-old garment, of course!

The entryway of an Indian Saree Store A very Indian tradition for those...

Read Article
image
Five must e-commerce trends to watch for in 2021

E-commerce is at an all-time high. Lockdowns, travel bans, and retail closu...

Read Article
image
Are the written reviews on eCommerce sites convincing enough?

Research conducted by LocalCircles across 220 districts in India. On...

Read Article
image
Why is influencer marketing an important aspect of today’s business?

In the prevailing times, life has become more or less a race where everyone...

Read Article
image
Organic or non-organic groceries? It’s one and the same yaar. Or is it?

A woman entrepreneur at her organic farm checking the harvest They say ...

Read Article
image
How to sell online in 2021?

Let’s start this with a question. What is that one thing which was more eff...

Read Article
image
How do you juggle WFH when schools are closed?

Work From Home (WFH) has become the norm for most working professionals ...

Read Article
image
How is Evergreen Indoors hyper personalising online shopping for their customers?

Meet Ms. Ashwathi, Owner of Evergreen Indoors Ashwathi and her father ...

Read Article
image
Do's and Don'ts of Live Video Selling!

Not so long ago, having a live sales event through video was as rare as hen...

Read Article
image
Top e-commerce startups leading online shopping innovation

Everything under the sun today can be bought via online shopping, from food...

Read Article
image
One-to-One Live Video Shopping: shaping e-commerce in 2021

Personalization is a word used in shopping whether online or offline quite ...

Read Article
image
How to engage maximum people on the live video shows?

Welcome to the golden age of Live Video streaming. From Miley Cyrus streami...

Read Article
image
5 ways to promote your online store without spending a penny

The pandemic played a very important role in boosting the digital adoption ...

Read Article
image
Deciphering the right eCommerce Model for retailers

Today, eCommerce has been more than a decade old now. But if we travel back...

Read Article
image
How to convert your one-time shoppers into repeat customers?

Most of the businesses have this mindset of always running after acquiring ...

Read Article
image
5 common myths about Live Video Streaming

Isn’t it interesting if something old becomes new again? Imagine your favou...

Read Article
image
What are the trending Products to sell in 2021?

Starting an e-commerce business is just not enough, the ultimate aim is to ...

Read Article
image
4 strategies to increase the cart to conversion rate

Gone are the days when there were only a limited number of e-commerce sites...

Read Article
image
How Live Video Commerce increases the conversion rate for stores?

 eCommerce has entered the era of “experience shopping,” in which consumers...

Read Article
image
4 Innovative shopify stores that would leave you in awe of their ideas

What is the calculus of innovation? The calculus of innovation is really qu...

Read Article
image
5 Best apps available on Shopify app store

Shopify is a powerful eCommerce platform that helps you build and easily st...

Read Article
image
Ecommerce Timeline: Evolution through the decades

Over the years, as the tech hardware evolved, parallel growth was seen in t...

Read Article