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Understanding the Power of Live Stream Shopping: Top 5 Advantages


live stream shopping

In recent years, the world of e-commerce has seen a huge shift with the advent of live stream shopping. This digital shopping format has gained significant popularity and is projected to be one of the most substantial trends in 2024, according to a Forbes report.


With the increase of internet use, the digital footprint of consumers has expanded exponentially. As a result, brands across the globe are leveraging live stream shopping as their go-to content strategy. Let's delve deep into what live stream shopping entails, and the top five benefits it offers.


Decoding Live Stream Shopping

It is Live stream shopping, the e-commerce realm trend which is merging online shopping with live video streaming. It gives a real time product demonstration, which in turn enables direct brand interaction with potential customers. The combination of exclusive features and user followers further enhances the interactivity and personalization of the shop.


The primary aim of this interactive format is to deliver immersive content to consumers, allowing them to pose questions and purchase products during the live stream shopping event.


Expanding Your Audience with Live Stream Shopping

One of the remarkable benefits of live stream shopping is its ability to interact with your existing audience and augment it through an interactive experience.



live shopping


Engaging Existing Audience

When planning a live stream shopping event, it's crucial to consider your brand's existing audience. Understanding their content preferences, the delivery style they prefer, and the overall tone of the interactive experience are crucial. These insights can be acquired from studying your target audience.


Live stream shopping strengthens your relationship with your existing audience, offering them an unforgettable interactive experience. It also provides an opportunity for them to interact with the personalities behind their favorite brand or influencer.


Attracting New Audience

On the other hand, live stream shopping can yield impressive results in reaching new audiences. This unique interactive experience attracts innovative and curious individuals to the landing page hosting the live stream shopping event.


Such exploratory online journeys can often lead to high conversion rates for brands.


Enhancing Brand Awareness through Live Stream Shopping

Brand awareness is a crucial aspect of a brand's success in the market. It helps you establish your brand's presence, gain the trust of consumers, and influence their purchasing decisions, thereby accelerating sales.


Live stream shopping provides brands a perfect platform to delve deeper into their brand story. Whether it's about the launch of a product, the history of the brand, or the rationale behind the brand values, live stream shopping offers an excellent opportunity to explain these aspects to the audience, thereby enhancing brand awareness.


According to recent statistics, 77% of people often refer to certain products by brand names, even if the product is from a different brand. Furthermore, one-third of consumers already have a brand in mind when they go shopping. Live stream shopping significantly contributes to increasing brand awareness and bridging the gap between the brand and its customers.


Boosting Engagement with Live Stream Shopping

Engagement is a key performance indicator for live stream shopping. It is defined as the percentage of viewers who interact with any of the elements of the live stream shopping event.


Live stream shopping significantly enhances engagement. It allows the audience to like, comment, and purchase products during the live stream shopping event. The host can answer audience queries in real-time, making the interactive experience even more immersive. On average, live stream shopping content reports an engagement rate of 40%.

All the features mentioned above make live stream shopping a highly engaging format where potential customers can feel heard and valued by their favorite brand.


Driving FOMO & Generating Sales through Live Stream Shopping

Live stream shopping has demonstrated an impressive 8X return on investment (ROI). This is largely due to features such as instant add-to-cart, where users can select and add a product to their cart without leaving the interactive experience.


Such features, combined with the confidence derived from seeing a product and its functionality live, create a sense of urgency or FOMO (Fear of Missing Out) among the audience. This drives them towards a quicker purchasing journey than other content formats.

Providing a discount code during the live stream shopping event can further boost sales.


Cost-Effectiveness of Live Stream Shopping

While the benefits of live stream shopping are manifold, it's essential to understand its cost implications.


Financial Resources

To implement live stream shopping, brands can either build the technology in-house or Join an interactive platform like Tezda, which provides a complimentary platform for online selling and generating interactive experiences. Sign up for their beta program to begin at absolutely no cost.


Time Resources

Time is a valuable resource for any company. While live stream shopping can be high-production and consequently time-consuming, the most effective live stream shopping events are often the most natural ones.


Authenticity and spontaneity are highly valued by audiences in live stream shopping events. Hosts need to keep the audience engaged at every moment, and one of the most effective ways of doing this is by setting a natural and spontaneous tone throughout the event.


Conclusion

Live stream shopping offers numerous benefits for both brands and audiences. It not only allows for real-time interaction with products but also provides a platform for brand communities to engage and interact. With features such as instant add-to-cart, this interactive experience can be highly profitable.


The US live stream shopping market is estimated to be worth $68 billion by 2026. If your company is considering this interactive experience, do not hesitate to contact us today


Tezda: Revolutionizing the Shopping Experience

Welcome to the forefront of e-commerce evolution, where we're not just changing how you shop, but also how you connect and share. Our startup, Tezda, is spearheading a new wave in digital commerce, blending the boundless potential of Web 3.0 with the interactive essence of Social Commerce.


At the core of our vision is the belief that shopping should be a communal, engaging, and personalized journey. Our team, a melting pot of innovators and visionaries, is dedicated to creating a platform where conversations lead to discovery, and communities thrive around shared interests and passions. We're crafting not just a marketplace, but a vibrant space where users can form focused groups, communicate in real time, and share their stories through compelling video content.


By integrating instant messaging, focused group interactions, and dynamic video sharing into the heart of online commerce, we are on a mission to revolutionize the shopping experience. Be a part of this revolution with Tezda. Join us today!

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