Top 4 Live Commerce Trends That Are Shaping Online Consumer Behaviour

Top 4 Live Commerce Trends That Are Shaping Online Consumer Behaviour

Consumers want to be directly connected to their favorite brands and live commerce supports the purpose as a faithful extension. Powered by social media, Livestream selling or real-time virtual shopping events are today booming worldwide. Brands use this platform to showcase a new product, explain an upgrade in software, sell products, interact with their followers, and a lot more. Market researchers say that live commerce sales may account for 20% of all e-commerce by 2026 and livestream e-commerce market is expected to reach $35 billion by 2024. Some of the promises of this model include sales acceleration, impulse buying, building brand awareness, and promoting engagement. As live commerce continues to spread its wings, here are the top 5 live commerce trends that are shaping online consumer behavior, in turn shaping the future of buying.

Live Streaming Through Influencer Marketing

As per surveys, brands that adopted livestream selling are seeing a 30% rise in conversion rates, which is 10x times higher than conventional e-commerce. Influencer marketing plays a key role in any brand’s digital marketing strategy. Watching their trusted and favorite influencers selling a product online surely increases a potential buyer’s desire to own the product too. Influencer marketing has always been a success in live commerce because it sets the foundation of a trusted connection between the consumer and the brand. Through authentic dialogue, influencer marketing plays the catalyst in reaching new and relevant audiences.

Omnichannel Livestreaming

Omnichannel live streaming is to ensure that your customers have a seamless buying process. It provides an integrated customer experience where all channels and platforms are connected. For example, the live video which is available on YouTube is also shared on the website and other social media platforms. Often snippets from the video are shared across multiple channels. It builds the bridge between physical and digital space and builds trust between the seller and the buyer.

One-to-one shopping experiences

If you went to a store, the salesperson would assist you in finding what you are looking for. You can choose from multiple options and finally make the purchase. Live commerce empowers the same for you online. Personalized one-to-one shopping experiences from in-store specialists are a hit among consumers. Its popularity spiked during the pandemic and now it has become a flexible way for consumers to shop sitting in the comfort of their homes.

Live Chat

Interacting with customers on Instagram lives on some of the hot topics often leads to customers instantly making a purchase. This creates a sense of belongingness and can even convince the person to make a purchase decision. Asking questions, sharing tips and tricks, and giving insight into a product often increase online engagement. Some of the common things that brands often frame questions on are about the founder, the style guide for the season, new month product highlight, gifting ideas for different occasions, etc.

Live commerce will also leverage AR/VR technologies to boost selling. These technologies enable customers to visualize how products look in real life in their surroundings. The future will also include automated sales, support services, AI chatbots to resolve incoming chats, and a lot more. Retailers who have benefited from live commerce have proven that it can be a part of a scalable hybrid model.

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