Video sells.
Live streaming (or live commerce, live video shopping) is a new sales model that allows customers to buy a product during a video stream with the participation of a blogger influencer, celebrity, or expert.
In 2020, leading online stores proved that live streams allow them to not only satisfy customer needs with high-quality service, but also increase sales.
Live streaming is the main trend in e-commerce for 2021.
Here’s why.
In 2020, live streaming on e-commerce sites became the main driver of the Chinese market.
Sales of goods have skyrocketed thanks to Wanghong. The Wanghong are Chinese blogger influencers and social media content creators with a large fan following.
Home shopping for zoomers is incredibly successful. In China alone, the value of the live-stream shopping market is estimated at $60 billion.
Taobao Live is a live streaming service integrated into the popular Taobao app.
Taobao Live also owes its success to the COVID-19 pandemic. In February 2020, the number of subscribers to the platform increased approximately 7 times compared to January.
During the Singles’ Day, live streams on Taobao Live brought in $2.5 billion.
They watch video reviews:
The user abandons a purchase if they don’t find a quick solution to their problem and begin to doubt their choice.
According to the statistics, people who have had a fitting make purchases 7 times more often than customers who simply browse the assortment.
The most common reasons for abandoning a purchase are as follows:
Purchasing decisions are often made based on emotion rather than logic.
Video creates a lively, shopping-friendly atmosphere, encouraging the buyer to quickly take the necessary action: “buy” or “order”.
You can increase sales or improve service by supporting the buyer at every stage using online videos:
Integrating streaming ahead of competitors means gaining a strong competitive advantage at the very beginning of the next shopping revolution.
We have developed a universal streaming platform that easily integrates into any ecosystem and supports all functions important for online sales or consulting:
Thus, the streaming platform solves all the issues in terms of organizing live streams and infrastructure for delivering video content.
Live streaming is the future of e-commerce that is already here.
Your store only needs goods and a seller—we will take care of the technical implementation and the high quality of your live streams.
Get started with a free consultation and a free test project.