What do business and consumers need to know
A revolution in the way we market through e-shops is also brought about by the appearance of Live Shopping, which is one of the most important innovations of recent years.
At a time when consumers are looking for immediacy, interactivity and personification in their markets, Live Shopping as experts say offers the ideal solution. But what is live shopping? According to the Generation Y Product Manager, the Hellenic Multinational Society, which is active in the field of digital transformation, Evi Topali, Live Shopping combines the benefits of e -commerce with the interactivity of their live interaction with consumers.
In a live link, businesses show the products, explain their capabilities, and answer real -time public questions. Consumers can make purchases immediately without having to leave the platform.
Billions of sales in America and Asia – rise and in Europe
The market form is gaining ground worldwide, with China driving the trend, recording billions of live streaming sales. Gradually, this trend also conquers western markets, highlighting new opportunities for businesses and consumers. In particular, Live Shopping has experienced rapid growth, especially in China, where in 2023 the market for live-streaming of trade has reached almost 5 trillion yuan, with a twelve-fold increase over pre-pandemic levels. Although Europe is still lagging behind Asia, the interest in live shopping is increasing. According to a survey, 67% of European consumers were interested in live shopping, with fashion being the most popular product category. In the US, live shopping sales were estimated at $ 50 billion in 2023 and are projected to increase by 36% over the next three years.
Ecommerce is no longer just a transaction -it’s an experience, as Generation CEO says Evi Boukourou Georgouda. Live video shopping brings interaction to the forefront, turning online shopping from a lonely process into a social, engaging and efficient experience. The figures speak for themselves: The Conversion Rates of Live Video Shopping reach up to 10 times higher than traditional e-shops, while the engagement of users is up to 5 times larger. This means that consumers do not just see a product -they are experiencing, interacting and making real -time market decisions.
The benefits for businesses
Live shopping is not just a new trend as it offers significant benefits that can transform how businesses approach customers:
-Real -time -interactive, as consumers ask questions and see the products “in action”, creating a more personal experience.
-Excreased conversions: Immediate purchase capacity during live streaming reduces the time delay and chances of abandoning basket.
-Creation of authenticity: Live presentations give authenticity as consumers see products in true conditions.
-Community -based: Through live sessions, businesses build a closer relationship with their audience, enhancing a sense of trust and loyalty.
The development of live shopping has led to the creation of innovative platforms that make it easier for businesses to exploit this trend. A typical example, as Mrs Boukourou points out, is Buywith, a platform that enables businesses to make live product presentations through their own online store, without the need for platforms such as Facebook, Instagram etc. Customers remain in the E-shops see real-time printing, they can ask questions and market them. The tools it offers allow businesses to work with influencers, create personalized live events and enhance public participation. Especially for small and medium -sized enterprises, this platform can be the key to competing in a demanding market.
A Useful Guide – How to Start with Live Shopping
Businesses wishing to incorporate live shopping into their strategy should start with the following steps:
1. Selecting the appropriate platform – such as Buywith – that offer easy integration tools. Design of your experience: Create a well -structured scenario that will present your products with interest and immediacy.
2. Working with Influencers: Influencers can boost your audience by combining their own authenticity with the power of live shopping.
3. Performance Measure: Use Analytics to evaluate the success of your strategy and adjust accordingly.
The main benefits of live shopping for the consumer are:
-Immediate information and better understanding of products: Consumers in real time receive detailed information and can see how they are used in practice.
-Conception of interaction with experts and influencers: They can ask questions, receive answers on the spot and interact with presenters by gaining personalized experience.
-Special offers and real -time discounts that are often available only during live broadcasting.
-Authenticity and trust: Seeing the product in use and listening to genuine reviews from experts or influencers, the consumer feels more confident before buying.
-The live shopping creates a more interactive and recreational market experience, as consumers participate in a community of common interests.
-Evolkia and immediate market: At the touch of a button, consumers can complete their market without leaving the live presentation, saving time and effort.
