THE NEW SPARK IN E-COMMERCE - SHOPPABLE VIDEOS

It is ironic that the cliché that annoys us the most, stays with us the longest. The ‘silver lining’ is one such. But when amidst the most adverse times you see this cliché come to life, it’s a delight. The pandemic triggered many deterrents for retailers around the globe, but the eCommerce industry proved to be innovative, garnering creative solutions and virtual substitutions to replace traditional in-store commerce. The impact of these digital innovations will long outlast the pandemic itself, and the world will continue to evolve, to grow.?

In 2020, consumers shopped from home and relied on eCommerce and curbside shopping options that completely eliminated human interactions. In 2021, they are ready to be able to shop from home without losing the experience of human connection, interaction, and real time feedback. Live commerce is the future of virtual shopping that serves consumers the convenience and speed of traditional eCommerce storefronts without sacrificing the human aspect of the purchasing journey.?

Selling products by video is not new,? homeshopping networks have been doing it for decades. But shoppable live-streaming is more than just video, it’s two-way; viewers don’t sit passively, they interact both with the presenter and with each other. Even when the viewers are complete strangers, viewers chat with each other and share opinions about whether to buy products and how to use or wear them. It is an instant community where interested consumers connect and purchases can be made instantaneously.

If we look at the retail trends in China in recent years, we see that live video has become an integral part of online shopping. According to a survey, two-thirds of Chinese consumers said they have purchased products via live video in the past 12 months, and 81% of them planned to shop via live video during Single’s Day, the Chinese equivalent to Black Friday. Over 100 thousand brands have used it there including Ralph Lauren, Clinique, Tommy Hilfiger, Lanc?me, Levi’s, Louis Vuitton, L'Oréal, Burberry and many others.

To try and understand the Indian market impact, it is interesting to see how similar in shopping behavior, the Indian and the Chinese consumers are. Both are social shoppers, meaning that their shopping decisions are heavily influenced by peer recommendations and interactions with the sales staff. Before they complete an online purchase, it is typical for both to chat with a salesperson via direct messaging tools embedded in all major ecommerce platforms, whether to confirm inventory availability and delivery options, or simply to build mutual trust. Shoppable live video provides a familiar kind of social interactivity, with added entertainment value, that perfectly fits the typical shopper journey for the Indian customer who we were always told - valued the touch and feel factor!

The idea of shoppable videos helps consumers use their screen time with justice. They don’t have to scroll through products on Instagram and then go to watch videos or watch live reviews about the same on YouTube and then go to the company’s e-commerce page to shop for it. They can now understand and watch someone showcase the product to them via a video and then use this video only to shop for it. This certainly saves time and fastens the decision making process and allows the customer to know firsthand about the product.

?Live eCommerce will revolutionize the online shopping experience by increasing interest in product launches, maximizing influencer impact and consumer engagement, and driving unprecedented qualified traffic to eCommerce storefronts!