Why brands are investing in live shopping
The next question is: What makes brands invest in live shopping?
Looking at results from Statista, more than half (52%) of global businesses using live shopping said they looked to improve the shopping experience and generate customer engagement and feedback (aside from the most obvious use case: to generate revenue.)
following the latest digital trends (47%)
customer acquisition (41%)
collaboration with influencers(41%)
co-branding with suppliers and brands (36%)
Percentage bar graph bangladesh mobile database showing brands improvement goals for live commerce
Publicis is one agency testing live shopping with its clients. In an article from Modern Retail, Allysun Lundy, the VP head of retail media strategy at Publicis Commerce, said:
“Consumers are going to log in and watch [a livestream], versus going to… spend a lot of time on Amazon or Walmart and not have it feel so sales-y that it really drives that conversion.”
Translation: Brands are looking into live shopping as a more engaging, human-first way to sell to shoppers, in a format that’s more frictionless, more user-friendly, and overall, more fun.
The profile of buyers interested in live shopping
Consumers who are interested in live shopping have a few things in common. These commonalities are important for brands looking to capture a specific demographic of shoppers, as this avenue for driving revenue is still new and largely underutilized. There’s a real opportunity for brands to get ahead of the curve with this emerging medium for sales.
Based on demographic data, McKinsey explored a few patterns and behaviors and found the average age of live shoppers globally averaged between 33 and 36 years old. Shoppers aged 25 to 34 made up the largest share of frequent live shopping users. This means brands looking to connect with Gen Z and Millennials should seriously consider live shopping to drive sales.