Everything You Need to Know About the New Online Shopping Trends
A picture is said to be worth a thousand words. But what about moving images — video? And do you want to live? What is the worth of a live video for your e-commerce business?
Many merchants are asking themselves these questions right now, unsure whether they should join the live stream shopping craze. What would be the sales payback, and what would it take to execute it off?
The retail business and customer purchasing habits are set to be transformed by live commerce, a new phrase for the mix of streaming video and e-commerce.
China was an early adopter, and the epidemic just accelerated the trend.
First, we must comprehend the context of this phenomenon. The tendency originates in China, five years ahead of the West in terms of trends and has a three-times-larger e-commerce business than the United States.
Social e-commerce, also known as entertainment-based e-commerce, has been “a thing” for a while in China. It makes online shopping enjoyable and sociable, as customers are accustomed to it when they visit an actual store.
What are the benefits of incorporating live stream commerce into a brand’s strategy?
There are several reasons why shoppable live broadcasts are extremely valuable to a company; the possibilities are practically unlimited. The first is communication and connection development; after having a Livestream in the spring of 2021, it also had a 308% boost in interaction and 17,000 views on its website in the first five days following the event. The event served as a method for the company to reconnect with its consumers and build an emotional bond.
Second, live streaming may assist shoppers in making better-educated purchasing decisions by demonstrating the product in action and providing them with the information they want before purchasing — helping to push hesitant buyers over the finish line. Furthermore, research reveals that when a product is purchased through a Livestream, returns are 50% fewer than when purchased through standard e-commerce channels.
According to the data, 84 percent of customers think a brand’s video persuaded them to buy something, and 96 percent have viewed a video to learn more about a product or service. More product information is available during live streaming than in traditional advertising, and it’s generally provided by a presenter that consumers already know and trust.
Besides online live shopping, Following trends are leading the e-commerce and dropshipping industries nowadays.
Technology is a Game-Changer:
We have witnessed technology increasing in the last decade. It also has changed people’s lifestyles, ways of communication, and shopping habits.
Technology has granted access to mobile phones, the internet, social media apps, and online retail stores for online shopping. Without Augmented Reality (AR), e-commerce would not grow like this.
Impact of Artificial Intelligence:
AI has revolutionized almost every sector of life. It has also impacted the online shopping trends and changed the style of the online retail industry.
It has impacted the marketing strategies, sales, and customers’ approaching techniques, leading to a more tailored shopping experience.
AI collects customers’ data for the businesses to know what their customers are looking for, what they need, and when they make purchases. It helps online shopping forums to approach them the right way.
Focus on Improved Sustainability:
As we discussed earlier, brands use AI to know the interests of the consumers to create purpose-driven products. Today, people know the importance of a healthy and clean environment that is equally safe for plants, animals, and humans.
So customers prefer the brands to embrace environment-friendly methods for product manufacture and acquire sustainability.
This knowledge has motivated manufacturers to produce eco-friendly and renewable products with extra durability and sustainability. It has converted the manufacturing process to harmless and eco-friendly practices.
This online shopping trend has enabled brands to reach out and present their products to the maximum audience.
Voice Search Making Online Shopping Convenient:
With the introduction of voice assistants of different e-commerce sites like Apple’s Siri, Google Assistant, and Amazon’s Alexa, people are more interested in setting smart speakers at their homes and giving them voice commands to order items online.
Many shopping enthusiasts, especially millennials, use the voice search option to activate their orders at retail stores. It has been the leading online shopping trend in the past two years.
Power of Social Media:
Social Media shopping is a craze these days. Social media has impacted the e-commerce and digital marketing industry of the world.
According to social media statistics, 490 million users joined different social media platforms in 2021. More than 40% of social media visitors search about brands and online shopping stores.
Hence, social media is powerful enough to change the whole direction of online video shopping, e-commerce, and digital marketing industries by controlling 1/3 of the total worldwide purchases.
Chatbots Bring a New Experience to Online Shopping:
Most of us notice the chatbot option when opening a website or affiliate blog. These chatbots provide a platform for customer and retailer interaction. With the help of these, customers can order their items in just a few clicks.
Hence, chatbots are a new and convenient up-gradation to the online shopping experience.
Final Thoughts;
Without having to look too closely, all of these rising trends have one thing in common: their ultimate purpose is to make a customer’s buying experience easier and more pleasurable.
In general, all of these early 2022 eCommerce trends strive to improve the customer experience in some manner.
Livestream shopping is more than just using technology to create an app that includes live video streaming and rapid check-out alternatives. It’s called shoptainment. Live commerce has changed the way people purchase online, and it’s here to stay.
What would you do to compete effectively in this e-commerce video-centric industry?
