The 9 crazy stats of Live Shopping
The online shopping experience as we know it is changing. Traditional e-commerce sites lack dynamism and struggle to engage their customers. Consumer habits have evolved. They are no longer looking for a website that simply offers a way to buy products. They are looking for a singular experience, to be part of something unique and to feel considered by the brands. Live Shopping is the ideal answer to this evolution of shopping behavior.
What is Live Shopping? Definition
Live Shopping or Live Commerce consists of broadcasting a live video from an e-commerce site in order to promote and sell products or services.
During a live event, a host presents a selection of products and gives various tips or information to make users want to buy them. The participants can interact with the host through a chat and buy the products without having to leave the interface.
The concept is gaining popularity as it offers brands a way to sell their products in a more personal way and humanize their digital interactions.
Live Commerce is blooming in China and is conquering the West
The emergence of live content
The popularity of live content has its roots in the phenomenon of live streams, which is very popular in the video game world. In early 2011, gamers were the first to create live content, playing and broadcasting live on the Twitch platform.
Over time, live content has become a must-have. Facebook, Instagram, Youtube, Tiktok, Twitter... It's everywhere, and its popularity is only growing.
The 2021 statistics related to Facebook live videos show that it is a format that attracts and seduces Internet users:
- Facebook Live got 330% more searches over the year
- 330% increase in Facebook Live sessions
- On average, a live session gets 6 times more engagement than a traditional video
The day Taobao Live transformed online retail
In 2016, Chinese giant Alibaba revolutionized the e-commerce market by launching the first Live Shopping platform "Taobao Live".
The concept was immediately a huge success and has only grown in popularity. Today, live shopping has an average annual growth rate of 280% and accounts for more than 10% of China's total e-commerce.
For most brands, it is no longer an attractive option, but an essential tool for engagement. As a proof of how big this phenomenon has become, in March 2021, a Chinese influencer even managed to generate 254 million euros in a single live session.
A concept that is rapidly expanding worldwide
After its dazzling success in China, the livestream shopping trend is rapidly gaining ground among Western brands. In 2021, many international brands and retailers have started to experiment with it, such as Tommy Hilfiger, L'Oréal and Swarovski.
Live Commerce is expected to grow significantly in the coming years, with more brands getting tempted by this new concept and more and more influencers becoming Live Shopping experts. Shoppers will become accustomed to shopping live and enjoying unique and intimate experiences with trusted hosts and brands.
Live Shopping is the future of e-commerce, statistics prove it
Many studies have been conducted on the impact of Live Shopping on e-commerce in the coming years by major consulting firms and they are all optimistic. Live Commerce is coming at the perfect time, combining the usage habits of new generations and meeting their needs for immediacy and authenticity.
Live Commerce meets the expectations of millennials and generation Z
- 88% of millennials and Gen Z are interested in Live Commerce
- 61% of millennials would rather interact with a brand online than visit physical stores
- Some companies are seeing their share of the younger audience increase by as much as 20% through the use of Live Shopping
Consumers are looking for authenticity...
- 88% of consumers say authenticity is important when deciding which brands they like and support (50% say it's very important)
- 83% of consumers believe that retailers need to provide more authentic shopping experiences for customers
...and love video content!
- 50% of time spent on the Facebook platform is spent watching videos
- 86% of consumers want to see more video content from the brands and businesses they support
Personalization and customer experience, 2 key factors in the purchase decision
- 80% of consumers are more likely to make a purchase from a brand that offers a personalized experience
- 73% of customers recognize that the customer experience helps them make their purchase decision
Live Shopping is a phenomenon that fits perfectly into today's society. It has already proven itself in the Chinese market and is rapidly taking hold in the global e-commerce ecosystem.
Be among the first to take advantage of its potential to differentiate yourself from your competitors, strengthen your customer relationships and increase your online sales.
Live Me Up is the ideal solution to transform the shopping experience on your site;
- A quick solution to set up: a phone, a computer, a light and you are live in front of hundreds (or even thousands) of people.
- A support in your live strategy by sharing tips and best practices to attract, engage and convert your customers.
- Prices adapted to all budgets and with no upfront costs