Remember when TV home shopping burst upon the scene and there was live interaction between buyers and sellers? More recently, social media took it to the next level, creating an instantaneous connection online. Now combine the two and you’ve got Livestreaming, the latest digital tool for the retailing business.
Initially developed in the Chinese market and first seen in the U.S. in online gaming transactions, livestreaming is poised to have a breakout year in this pandemic era.
A quick primer if needed: Retailers, using social media platforms like Facebook or Instagram, set up a live video session in their stores or on a location. A host -- could be the retailer herself or someone more used to live performing -- demonstrates a product, much like a host on QVC or HSN would. But the big difference is that viewers can ask questions, request different views or more information from the host. A conversation can develop. Then a mechanism, already in place, allows the viewer to place an order. Then it’s up to the retailer to fulfill and take the money.
While we’ve seen more retailers in the apparel space doing livestreaming it is starting to pop up in home products. Big national chains like Macy’s are testing it and third party services like Popshop, DroppTV, BeLive and ShopShops are now in the market offering to coordinate the shows.
Said BeLive’s founder and CEO Daniel Mayer, “Right now, for the retailers, what they’re actually looking to have when turning to us isn’t just engagement, it’s increased revenues. To be able to do that in hard times, you need to be able to use unique solutions that you weren’t using previously.”
These days in the retailing business that’s saying something.