What is shopstreaming and how it has been stirring up online sales
Just like e-commerce stirred up retail sales some years ago, now shopstreaming has been transforming e-commerce itself. The trend – which has already been present in China and South Korea – is fast reaching Brazil, especially due to the new coronavirus pandemic.
In China, Taobao – the greatest electronics e-commerce in the world – already makes use of shopstreaming to create unique sales experiences and in 2018, 81 influencers brought on over US$ 15M in sales to the company. South Korea does not fall behind: by betting on the combination of live videos and chats in real time as well as on ‘a few clicks’ sales, the company LF Corp has had a 30% increase in sales since 2015.
Based on all that, it is needless to say that shopstreaming has a great deal of advantages, doesn’t it? However, you may be asking yourself how all that works out, what influencers’ role is and what the main benefits to all the ones involved are. You are at the right spot because in this article you will find all the answers to those questions. Keep on reading to find out all the information you need!
What is shopstreaming?
Shopstreaming means making use of live video broadcast technology in order to perform online sales. This way, while an influencer is showing and talking about certain products, the consumer may interact, clear out doubts and, after a few clicks, purchase products.
Known as live commerce in China, this is a new trend that has been transforming online market. Since e-commerce has arisen people are used to having a one-way digital purchase experience. Now, such experience is turning into a two-way event in which the brand, the influencer and the consumer connect and interact during a live video.
We have been living an increasingly technological era: according to data from Youtube, searches for live content have increased 4900% in Brazil during quarantine sparked by coronavirus. The new consumption habits that have been triggered by this unprecedented scenario have turned shopstreaming into a trend, which had been still crawling around here and now it is at full throttle. As people have not been leaving home lately and physical stores were not allowed to open for many months, shopstreaming has found space to grow and get strong. Buying online has become routine for consumers and brands that haven’t been providing it to their consumers are being left behind.
Imagem: Screenshots TaoBao Live
How does shopstreaming work?
Shopstreaming has a simple operation reationale and what can be good about it is that its return can be huge, just like “AlibabaTaobao Live” case – Taobao discount festival that took place in China 2020 and resulted in sales of about US$740M in products on just one day.
Shopstreaming sales format is not something totally new, after all, it involves artists, influencers or specialists showing products, giving tips of products use and offering discounts for the ones who buy while the live video is ongoing. What is peculiar about shopstreaming is that it has reinvented itself within the digital market by taking advantage of what already existed but adapting itself to the modern world scenario and language.
The operation is simple: a brand and an influencer get together to go live. During that live commerce, the influencer shows some products and their uniqueness and offers discounts and exclusive payment conditions. On the other side, people who are watching the video may send questions and interact with the influencer – that is why it is a two-way drive. Unlike e-commerce – in which there is no one showing products and answering questions and interacting in real time – shopstreaming provides a full and more interactive purchase experience.
At last, after deciding to buy a product, consumers perform the purchase after a few clicks – which can occur while the live video is ongoing. It means that they do not need to access another webpage to buy, which is also practical and eases the purchase journey as a whole.
What are the advantages of shopstreaming?
The advantages of shopstreaming are various, not only to the brand but also to the influencer and the consumer. Check out below some of the main benefits to all the ones involved in the process!
Advantages to the brand
This new sales channel is exactly what brands seeking to have speedy return and low investment need. The scope and engagement can be very high without incurring in huge costs.
People are increasingly in need of connecting to brands and influencers. A live video provides an environment in which the consumers not only get in touch with content, but they may also send questions. That is one of the reasons why live video audience is up to 20 times higher than an on-demand video.
High conversion rates
As you may have already noticed, shopstreaming brings really relevant results if it is well operated. It is an opportunity to increase brand’s sales.
Advantages to the influencer
Live videos featuring great brands are an opportunity for digital influencers who wish to grow and gain more space in the media.
A new monetization way
By means of commission, influencers may have advantageous financial return with shopstreaming, especially for its potential and business scale. An influencer may go live for many brands on the same day.
Credibility with the audience
By connecting to brands that strengthen their images influencers raise their own credibility as well.
Advantages to the Shopper
Discounts and special payment conditions
During a live video it is very common to see brands giving special payment conditions to customers, what becomes a great opportunity.
Being able to ask questions and Interact with the influencer during a live video makes the experience unique for shoppers.
Promptness while shopping
In addition, the purchase is performed after a few clicks, that is, it’s very easy to proceed to checkout during the ongoing video.
Get to know Mimo: the first shopstreaming platform in Brazil
If you liked to know more about this trend, you need to know Mimo. We are the first shopstreaming platfrom in Brazil. You will soon be able to live a “all on one screen” experience in which you can watch, interact and shop on one screen.
We are a platform aiming at making shopstreaming popular so that brands, influencers and consumers can connect to an interactive digital experience. Now you can subscribe to get news and know Mimo’s next steps. Start countdown because we are arriving to stir up the online market.
Click here for further information!