With the advent of the internet and new technologies, the fashion retail business has changed dramatically in recent years. While e-commerce shows no signs of slowing down, a new kind of shopping is gaining popularity that may represent the future of the fashion retail industry: Live shopping or Live Stream Shopping.
Live shopping is similar to television shopping which involves a person promoting a product in front of a live audience, but it is much more contemporary and effective. Customers may connect and engage with an influencer on screen and make purchases with the press of a button via a livestream shopping platform. This will work because it provides a compelling and immersive experience without requiring consumers to leave their homes.
One of the most significant disadvantages of buying online is that it may be difficult to get a sense of how a product looks and feels based on just a few photos. While nothing beats the experience of holding an item in your hands and trying it on, livestream shopping is a fantastic tool whereby brands can talk to buyers in real-time and even answer their doubts and questions.
Live Shopping being the future of fashion industry
Live video shopping provides consumers with a slew of advantages. Online shopping is wonderful, but it has drawbacks that live shopping will strive to address to offer a better buying experience.
One of the advantages of technology is that it allows for the creation of a brand story, which makes it very simple for consumers to connect with the brand's identity and recognize them in their natural environment. Customers do not need to download any extra software since the technology can be integrated within the current website or app.
China is one of the markets that has embraced the practice of live stream shopping to a large extent. According to Rockwater Industries, a management consulting company, sales in 2021 is expected to be $ 129 billion. This is a 453 per cent increase over 2018.
Live video shopping or Live commerce will continue to develop as it grows in popularity, and the possibilities are endless. This offers each shopper a completely personalized experience and enables them to ask questions and place an order in real time.
Brands who begin live streaming shopping must also understand that video buying is much more than the newest technology and leveraging it in the right manner is the key to establish long-term relationships with the customers. The fundamental requirements that have always characterized retail have remained constant. It's still about the power of human connection and the pleasure of discovery, even in the virtual world—wandering into your favourite store, having fascinating discussions, learning about the stories behind the goods, and being inspired.
It's amusing to see this 40-year-old business concept reborn. As long brands bring humanization and personalization along with technology, the newest advancements have the potential to bring the best of physical shopping to today's stay-at-home customers.
Luxury e-commerce is being utilized to supplement rather than replace flagship shops. In the future, however, this trend will be reversed, with physical shops serving as a supplement to the internet purchasing experience. This shift is already underway, as a result of extensive shop closures and plans to build new digital-centric brick-and-mortar locations. In China, Nike and Burberry have already opened concept shops that allow consumers to engage with personal goods, on social media, and via data-driven hubs.
Brands today are increasingly adopting live commerce to create a feeling of community among consumers. Looking to start your live online shopping platform or grow your already existing fashion retail business? Channelize.io Live video shopping platform is the best way to take it to the next level.
Channelize.io Live Shopping Platform can help you showcase your brand and bring an In-store experience online while boosting your business.
Now share your face, voice, opinions, and answer questions of your viewers in real-time.
Here are some benefits that you can achieve with our Live commerce platform
1. To help the customers understand their products and service in a detailed way
2. To provide entertainment in an informative manner
3. To boost sales
4. To enhance customer engagement and retention
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