Why is Live Streaming App Development the Next Big Ecommerce Trend? Live Streaming app development is gearing up in the Ecommerce industry. In 2018, Qurate Retail Group, which owns the brands such as QVC, Zulily, HSN, and more, rebranded itself by coming up with a “third way to shop.” This “third way to shop” concept is beyond physical retail and e-commerce. Looking at Qurate as an example for the future, Amazon launched Amazon Live in 2019. Amazon Live is a platform where the sellers can post the product-based videos, either direct or live streaming. The customers can watch the videos on Amazon.com/live, product detail pages, and a seller’s store.
Ecommerce Mobile Apps seem to be the next big thing in the Ecommerce industry. But, what exactly this live commerce is, and how an Ecommerce industry can take the benefit out of it, is what we are going to discuss further in detail.
What is Live Commerce?
Live commerce or live video streaming commerce is a service that you offer to your sellers to sell their products faster using live video streaming. This definition of live commerce can be for marketplaces.
But, if you are a retail brand, you use Live video Ecommerce to inspire your buyers to make purchases. In short, Live commerce is a way to sell your products using live video streaming.
Live Commerce Market Forecasting
For Which Industries Live Streaming App Development is Good:
Are you wondering whether Live commerce is beneficial for your business or industry? Then, check out whether your industry exists in the list below:
1. Fashion & Beauty The fashion industry includes everything from clothing, eyewear, shoes to accessories. If your business falls under the fashion industry, you can see higher conversions instantly with Live commerce.
The same is the case with the beauty industry. Whether you have skin, beauty, and cosmetic products for men or women, Live commerce should be in your next target list.
2. Electronics & Gadgets Electronic is the second highest profit-earning segment in the Ecommerce and retail industry. Whether you sell TV sets, PS3 games, smartphones, laptops, or any such electronic gadgets, you have to bring Live commerce to see more sales.
3. Home Decor & Furnishing Home decor and furnishing industry needs more creative ways to showcase their products and inspire customers to buy them. Live commerce can make selling your products online and even offline easier.
4. Kids and Baby Essentials Most brands sell products that are specific to kids and babies. If you are among them, Live video commerce can help your audience to make informed decisions and make purchases instantly. After all, parents want to make sure of everything before buying any product for their children.
5. Stationery Supplies You can easily promote any product that belongs to stationery with the help of live video streaming. Make sure you start using Live commerce before your competitors do.
6. Food Products Showcasing how your food products can make yummilicious and mouth-watering recipes using Live commerce, you can earn higher revenues.
7.Healthcare Product Everything from medication, yoga to other healthcare essentials can be explained amazingly with the help of Live commerce.
Medication and other healthcare essentials always have people in confusion of why to use a product and how to use it. And, Live commerce can help you attract the customers who are in such doubts. Helping your customers with the solutions have higher chances of bringing in loyal customers.
8. Car Products and Accessories Car products and accessories is a niche industry where you have higher chances of conversions with Live video streaming commerce.
9. Pet Products Another niche industry is of pets, and pet lovers are always looking for guides online on how to take good care of their pets. For your pet products industry, Live commerce proves to be a boon as it helps in making your brand a successful one.
10. Grocery Products People now buy everyday things online. And, for that, they don’t need inspiration. But, to beat the competition, you need to use Live commerce and inspire your customers to choose you over your competitors.
The list of industries mentioned above are only a few. If your business needs to improve conversions, sales, revenues, or outperform the competition, you need Live commerce.
Features of Live Ecommerce App: What do you need in an app to integrate Live commerce? This question may arise when you look forward to developing a Live commerce app.
Whether you already have an Ecommerce app or looking to develop a new Live commerce app, you need to know what features your app must have. Below, I’ve mentioned the essential features your Live Commerce App should have-
1. Basic Feature That Ecommerce Apps Have Live commerce app needs to be exactly the same as an Ecommerce app. It should have all the following features. And, any feature that is relevant as per your industry and business. Make sure you have these basic Ecommerce features before you launch your Live commerce app.
2. Separate App Section To View Product-Based Videos Just like Amazon.com/live, you too need to have a separate section on your Live commerce website and mobile app.
This section on your Live commerce app helps your customers to go to that section and see different products featured in the live video streaming. The way the homepage works for the customers to see what the brand has to offer, the Live commerce app section will have the same impact.
3. Recommended Products To Buy Section Featured In A Live Streaming Video When a user views a live streaming video on your Ecommerce app, there should be a horizontal scrolling feature showcasing the products highlighted in the video.
Looking at the video, if the users want to make a purchase, they do not have to go to any other page. They can view the product there and then and even make the purchase without any delay.
4. Videos On Product-Detail Page What if a user lands directly on the product page? You cannot compromise on getting conversions through your live videos.
That’s the reason why you need a section on the product-detail page which lists all the videos that feature a product.
5. Videos On Seller’s Store Page If you have multiple sellers on your Live commerce app, each seller must have a section where all the videos by them are available.
Customers check out a seller’s store when they are looking to build trust for your brand. So, that is the place where all the videos of a particular seller must have- building trust as well as generating business, everything at one place.
6. A Section On Homepage Showcasing Most Trending Videos Do you know most Ecommerce websites or apps have higher visits using their branded names? Yes, that’s the reason why there are higher chances of people landing on your homepage instead of the product pages.
When planning the Live video commerce app development, you need to consider having a section on your homepage that features all the popular or most visited videos.
Advantages of Live Commerce App
1. Improved Brand Awareness With the live video streaming commerce app, you can reach millions of customers who are unaware of your brand/business. The more people will come to know about your brand through videos, the more they will share with others. If you are a newcomer in the Ecommerce industry, you must go for a Live video streaming commerce app.
2. Increased Conversions
As per Statista, 96% of buyers find videos helpful when making purchase decisions. That’s the reason why a Live commerce app can help you drive more conversions online.
3. Build Trust Another stats by Statista says that 58% of buyers trust the companies that produce content. So, building trust among your customers becomes easy with a Live commerce app.
4. Outperform competition Live commerce apps are a new concept, and hardly your competitor has explored. This is the time you need to have a Live commerce app and beat the competition as fast as you can.
5. Strengthen ROI When you have higher conversions and more sales, you are more likely to improve the ROI of your online business. And, a Live video streaming platform helps you enhance your ROI YoY.
Top Live Commerce Apps: 1. Alibaba
China’s top marketplace, Alibaba, launched their first broadcast of a “See now, Buy now” fashion show on its Tmall platform. On that Singles day, Alibaba saw a total sales of US$ 17.7 billion, 32% more than last year.
2. Taobao Another C2C marketplace of China is Taobao, which is operated by Alibaba. More than 10,000 celebrities review the products on Taobao using Live video streaming.
Another C2C marketplace of China is Taobao, which is operated by Alibaba. More than 10,000 celebrities review the products on Taobao using Live video streaming.
3. TMON
Asia’s most significant Ecommerce player, TMON, launched a live commerce app called TV ON Live. With this Live commerce shopping, the company saw a 21% conversion ratio and 130 times more revenue.
4. QVC
The QVC brand of Qurate launched a live commerce app in 2018, which we discussed in the beginning.
5. Kohl The LC Lauren Conrad by Kohl launched a Live commerce app that showcases the videos consisting of behind-the-scenes and the updates from the New York Fashion Week. The brand wants to give their customers the feel of as if they are watching the show from the front seat.
The purpose was to bring in more sales by connecting marketing to sales using a Live commerce app.
Benefits of Live Stream Shopping Live Stream shopping can be an affordable way to quickly give your sales a boost, build brand awareness and find new customers. It’s a fun and entertaining way for people to get to know your products and your business, and become involved with what you do. Also, it can be viewed as a digital read of a proven selling approach of the past – teleshopping channels, and we know how big that trend was in the ‘90s. The difference now is that the core audience of Ecommerce live selling is the younger generation, a.k.a. Gen Z, who are known for their big pockets and the habit of breaking the bank on any occasion. Of course, other generations are not immune to the temptation as well. Here are some of the most lucrative advantages of livestream shopping:
1. Provides a Digitalized Brick-and-Mortar Experience If there is one thing that Ecommerce has been missing, it is the brick-and-mortar vibe of shopping. In the offline world, visiting a store is not simply about making a purchase, it’s an experience that involves human interaction and a touch point with a different world. You enter a space where you are surrounded by novelties and interesting products, you look around, ask the
shopping assistant about the items you like, see how products work, touch them. This is something you simply cannot do online. Or at least it used to be.
Live streaming Ecommerce allows you to deliver the best of both worlds. Your customers can enjoy the comfort of their home, and at the same time virtually be at the shop and ask the host questions in real-time. The host, on the other hand, can show them how the products work, give them close-ups, and make a demonstration of their qualities. The digital experience can even be better than visiting a shop. Well, yes, there is still no way to touch a product online. But you can have your favourite celebrity or influencer as a shopping assistant and that doesn’t happen every day.
2. Quickly Generates Enormous Sales The best thing about live shopping events is that they can help you quickly generate enormous sales. If you do your marketing campaign well, people will know about it and will be looking forward to it. Once they are watching and they are having fun, they can invite other people to join. All you have to do is provide an exciting experience they’d want to share with others.
That’s why it’s so important to choose the right host for the event, it has to be someone who can fascinate people and make them want to buy what you’re selling.
Conclusion The Ecommerce industry is becoming competitive each day. And, to keep up with the competition and survive in the same, you need to come up with something that your customers would embrace. Ecommerce App Development is that new thing. Though Augmented Reality and Virtual Reality seems to be the future of Ecommerce, Live Ecommerce is the present. You don’t need to invest in such expensive technologies when you can only provide the real feel of the products using live video streaming commerce apps. Whether you are looking to upgrade your existing Ecommerce app with Live commerce or developing a new Live commerce app, Nimble AppGenie is here to help you with the entire process. Connect with us with your business requirements and let’s discuss the strategy of your Live video streaming mobile app development now.