Live selling is a new trend in e-commerce that has been gaining popularity in recent years. It involves using live video streaming to showcase products and interact with customers in real-time. Live selling offers a unique and engaging way for businesses to connect with their customers and promote their products. In this article, we will explore the benefits of live selling through mobile apps and how it can be a game changer for the future of Shopify mobile apps and the Shopify ecosystem.
What is Live Selling?
Live selling, also known as live streaming commerce or live commerce, is a method of selling products using live video streaming. It involves broadcasting a live video of a product or service, showcasing its features and benefits, and interacting with customers in real-time. Live selling is a popular trend in e-commerce, especially in Asia, where it has become a multi-billion dollar industry.
Industry Data that Supports Live Selling
The Live Selling industry is projected to reach $25 billion by 2023. Shopify’s Future of Commerce Report in 2022 cited that:
- Live selling made $5.6 billion in US sales in 2020
- Live commerce sales could account for as much as 20% of all ecommerce by 2026
Customer research is pointing to the value of Live Selling as well:
- 46% of consumers want to watch product videos before they buy
- Live Selling events are consistently resulting in conversion rates above 30%
- Live shoppers are 40% less likely to return an item than other online shoppers
- 61% growth in the number of Shopify merchants installing apps for live shopping as compared to 2021
- It is one of the best ways to pull in Gen Z shoppers, and grow audiences by as much as 20% by keeping your buyers engaged & entertained
And brands are taking action:
- 81% of brands increased investment in live selling to drive sales in 2022
Real Companies are Live Selling Successfully
Top Brands are leveraging Live Selling to increase engagement and conversion:
- Tommy Hilfiger: 1300 hoodies sold in two minutes and 14 million viewers
- Bobby Brown: Increase in conversion from 2% to 5% and higher AOV from $87 to $99
- Adidas: 2.23 million viewers and $28 million in revenue in 10 hours
- Aldo saw a 308% engagement rate and 17,000 page views on its website in the first five days after a live shopping event in 2021
- Walmart’s live shopping event on TikTok added 25% to its TikTok follower base in 2020
- Other champions of live selling: Zara, Clinique, Nordstrom, Burberry, Swarovski
Benefits of Live Selling through Mobile Apps
- Enhanced Customer Engagement: Live selling offers a more engaging and interactive shopping experience for customers. It allows them to ask questions, provide feedback, and interact with the seller, creating a sense of community and connection.
- Increased Sales: Live selling can help increase sales by showcasing products in a more engaging and interactive way. It offers a unique opportunity for businesses to showcase their products and highlight their features, helping customers make informed purchase decisions.
- Improved Customer Loyalty: Live selling can help improve customer loyalty by offering a more personal and authentic shopping experience. It allows customers to connect with the seller and build a relationship based on trust and credibility.
- Cost-Effective: Live selling is a cost-effective way for businesses to promote their products. It eliminates the need for expensive marketing campaigns and venues, allowing businesses to reach a large audience from anywhere in the world.
- Access to Analytics: Live selling platforms offer valuable analytical data, including viewer engagement, audience demographics, and geographic data. This data can be used to improve future live streams and marketing efforts.
Live Selling and the Shopify Ecosystem
Live selling can be a game changer for the Shopify ecosystem, offering businesses a new and engaging way to promote their products and interact with their customers.
Benefits of Live Selling for the Shopify Ecosystem
- Product Demonstrations: Live selling can be used to demonstrate products in real-time, helping customers make informed purchasing decisions.
- Customer Support: Live selling can be used to provide real-time customer support and answer customer questions.
- Marketing: Live selling can be used as a marketing tool to promote products and services, showcase customer success stories, and provide training and education.
- Revenue Generation: Live selling can be used to generate revenue for Shopify stores. For example, businesses can charge for access to premium live streams or offer in-stream advertisements.
- Differentiation: Live selling can help Shopify stores differentiate themselves from their competitors. It offers a unique and engaging experience that can help set them apart.
Live selling is a powerful tool that can help businesses engage with their audiences in new and exciting ways. It offers a unique and authentic shopping experience that can help build trust and credibility with customers. Live selling can be a game changer for the future of Shopify mobile apps and the Shopify ecosystem, offering businesses a new and engaging way to promote their products and interact with their customers.
