Since quite some years, online
shopping has become very popular among consumers. Most firms have a shop on
the Web. As such, retailers have to implement innovative ways to attract
consumers’ attention and to rival with others. A new trend in this sector is
‘live-streaming’.
In countries such as China, Taiwan and Hong Kong, live-commerce platforms are catching the
interest of hundreds of millions customers. It is expected that this idea will
soon expand to other markets. The CEO of M17 Group advanced that “local
audiences are so hooked on the concept, they actively look for opportunities to
shop via live-streaming channels”. He further asserted that watching other
people shop makes you want to buy products. Thus, businesses have the
opportunity to make more sales.
The shopping session is set to end at a particular time. As
such, there is a sense of urgency that is not usually found on e-commerce
platforms. Moreover, customers can ask questions on the stream. They can ask
others for recommendations. All these encourage consumers to buy more products
and this can increase sales by up to 500% in comparison to ordinary e-commerce
platforms. Various brands such as Adidas and Zara are benefitting from
this innovative concept. However, this market is “only in its infancy”.
Purchase
products via live streaming
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