What is a live shopping event?
Let’s get familiar with live shopping. It’s a combination between live streaming and shopping. It’s a format that has been popularized in the 1970’s by companies such as the Home Shopping Network or QVC and has seen a resurgence in the past 4 years, with the growth in live streaming and online shopping. The market for live shopping events has been growing exponentially within the past 2 years and China’s live shopping market is expected to reach $422 billion in 2022.
Live shopping events combine entertainment and product discovery what many have dubbed the future of commerce. In the US the live shopping events market is only in its infancy but it’s growth is faster than many other media channels. The market started at virtually nothing in 2019 and is now expected to reach $35 billion in 2024.
Live shopping events presentation
How to start a live shopping event?
When you are planning to start a live shopping event, there are three key components you will need to make sure your event is successful:
- Technology: live shopping events combine three very important technologies to allow viewers to purchase: live streaming, ecommerce and social media. Live video streaming is used to transmit media from the virtual event studio towards the viewers. Ecommerce is deeply embedded in the video experience, with buyers being able to view the video and shop at the same time. Social media components like chat, interactive tools and the ability to interact with one another transform the whole experience into a social commerce experience. All of these technologies are part of our live shopping product, Streams.live.
- Products: when planning live shopping events your best choice is to go with the best sellers. According to a McKinsey study, the best live shopping categories are Apparel & Fashion (35%), Fashion & Beauty (7%), Fresh food (7.4%), Consumer electronics(4.6%) and Furnishing & Home Deco (3.6%). Of course, the success of your live shopping event depends on many other factors but product selection and relevant incentives such as pricing and discounts do play a big part.
- Content: a live shopping event is basically a virtual or hybrid event. Most event planners can successfully make the switch from hosting traditional events that are monetized through ticketing and advertising to this emerging media, monetized through live shopping, connecting online and in-person events. By combining entertainment and product presentations, event planners can create amazing experiences and increase their revenue.
Live shopping events on your website
… or a partner’s website: Using Streams.live you can embed live shopping experiences directly on your website. To do this you only need to copy and paste a short embed code, after you have registered with Streams.live. Here’s how you get started:
- Create an account on Streams.live;
- Add the products you want to sell during the live shopping event or connect a Shopify store;
- Set a date for your live shopping event;
- Go live from your computer, mobile phone or by connecting your video stream via RTMP. Using Streams.live you can download the live shopping app to stream from your mobile or connect your production video from a computer, either via webcam or RTMP stream;
- Copy and paste the embed code on your website;
- Communicate with your audience about your upcoming live shopping event. Streams.live automatically creates a notification system for your customers. They can input their email, phone number to receive a notification 15 minutes prior to the event or they can just add a reminder to their calendar.
Live shopping events on Youtube, TikTok, Facebook and Instagram
Most social media platforms allow live streaming and live shopping events are going to increase in frequency. As you have already developed an audience on your favourite social media channel, you can now stream to your social media profiles using Streams.live’s multicast tool.
It’s no wonder that some of the most popular live shopping events have been streamed on social media. You can do this too AND host your live shopping event on your website.
STARTING YOUR LIVE SHOPPING EVENTS
Step 1: Create your live shopping event
Create a your live shopping event. Easily share it with your audience. Add the products you want to present.
Start your free account and add products
Start your free account in minutes and add the products you want to sell to your audience.
Preview your event before going live
Step 2: Go Live
Press “Go live” and connect with your audience. Share your instantly created Streams.live live shopping event or embed your live commerce session in your store.
Engage with your audience in real time
Feel the pulse of your audience with direct comments and questions. Test your products, and get insights and reactions.
Be authentic and connect with your audience
Step 3: Learn and repeat
Our analytics tool tells you all you need to know about your live shopping event’s engagement and sales. Especially if you connect Streams.live with your store.
The importance of data
Having a better understanding of the engagement will help you craft better and better live commerce sessions.
Discover what really works
Live shopping events resources
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