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What is Live Commerce?
Live commerce is a way for brands to sell products through live streams on digital platforms. The method aims to provide consumers with an interactive experience, allowing them to ask questions and buy products during live streaming.
Live streaming is a type of streaming that allows the internet to transmit or receive a particular content while the event is taking place. Starting in Asia in 2017, the Covid-19 pandemic in 2019, and the consequent lockdowns had a significant impact on the use of social networks and consumption, leading to the expansion of this type of shopping.
The shopping occurs in live streams on digital platforms or social media in which, an influencer promotes a product or a brand. People can watch these live streams and can ask questions live, chat or buy products.
Rise of live commerce
The arrival of social networks has changed the behaviour of consumers, connecting users across the world.
The concept of e-marketing has made its way that is applying the concepts of marketing through internet technology. This new type of marketing allows identifying a more precise target, customising the experience of each user.
Social media has transformed communication, allowing interaction and engagement between members of a community through messages, sharing photos and videos in real-time and globally. This environment allows the consumer to create content and offers an opportunity for companies to reach new markets and new broad customer targets.
According to Forbes, live streaming is for fashion, jewellery, and beauty and skincare brands, modelled by influencers. It creates more trust with customers, who see the hosts of the stream as experts. It allows them to gather more information about the products, as well as discover new items they may not have previously considered.
Advantages
1. Lower distribution costs: As goods are delivered directly to customers from a factory rather than being imported from brick-and-mortar stores, live commerce lowers operating costs.
2. Enhance customer experience: The influencer works as a customer service agent and a salesperson on the floor.
3. Marketing activities will be tracked: Consumer trust and retention can be maintained by targeted email promotions, directed social media messages.
4. Brand loyalty: When people engage more and more with the individual selling the item, the influencer-as-brand ambassador fosters long-term brand loyalty.
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