Why it’s important for today’s brands to consider live shopping
Consulting company McKinsey conducted a study of the e-commerce market. According to its results, by 2026, live shopping will occupy 20% of all world online purchases. Analysts point out that today’s consumers don’t just want products that fit their parameters, but also attention from sellers. It is important for people to be clearly told about the product, to be shown how to use it, its details, and its features.
Every year the share of online sales grows, the boom came during the pandemic, but since then, the sector continues to grow rapidly. This global trend is a sign to businesses that it is time to change traditional approaches and look for new strategies to increase customer loyalty. A number of brands are already implementing new tools, and they are demonstrating their effectiveness. It is important to understand that the e-commerce market will only grow, which means that after a while the competition among retailers will be more and more serious. It is quite difficult to retain it only through quality products, and business owners need to think more broadly.
Online shopping has gradually become a habit, and a large share of purchases are unplanned. Companies can use this peculiarity of consumer behavior to their advantage. For example, a favorable price or promotional offer can make the customer not leave the site after the desired product has been selected. As a result, in addition to the necessary products, additional products end up in the cart. In this case, the online store is required to choose the most accurate recommendations for a particular consumer. Thanks to such a hit, it is possible to increase the customers’ checks by 10% or more on average.However, just showing advertising does not work now – it is important that the promotion was more organic. According to surveys from Nielsen, about 90% of users listen to the recommendations of their friends or people whose opinion is authoritative for them. Therefore, many brands actively involve bloggers in advertising, and such cooperation allows them to reveal the benefits of the product, its characteristics, and its features. And the information is given with maximum orientation on the target audience. Influencers give their subscribers what online shopping lacks – the emotions one gets when going to a physical store.
A promising tool for live shopping is Web 3.0, which is actively developing. Already many retailers use AR/VR technologies to make the choice of goods on the Internet as close as possible to traditional shopping. For example, IKEA offers an augmented reality mechanism to see how a piece of furniture fits into the interior.
Modern technology is entirely conducive to the development of live shopping. It is important not just to sell a variety of products, but to present them correctly to consumers and to create a desire to buy them.