Live streaming is a great way to reach out to your audience and connect with them without having to be there physically. While this form of video content is not new, it has been on the rise, especially with how COVID-19 has affected the world. If you’re looking to boost your sales, e-commerce live streams might just be your solution!
Majority of live streaming platforms allow the audience to comment in real time which allows you to respond to their enquiries and in the case of e-commerce, consumers can even purchase products as well!
With the presence of social media and the convenience of several live streaming platforms, these e-commerce auction events have been taken online. In particular, they have been growing in popularity in countries such as China. According to Huachuang Securities, the live stream industry in China is predicted to expand to $15.9 billion by 2020.
Live Stream Sales
During the e-commerce live stream, the host usually dives into more details about the product that they are selling. It can be considered as a product demonstration or review for their audience to better understand what they are spending their money on.
This is great for businesses to work towards convincing their audience to make their purchase. Rather than only showing their audience a few images and a brief description, they are showing how you will be interacting with the product.
Live sales are also time sensitive so the prices for the products are usually limited to the viewers of the live broadcast.
Live Stream Auctions
Other than e-commerce live stream sales, auctions are also gaining popularity. An auction is a bidding event where individuals put a price on an item they are interested in. The exciting part begins when someone else has their eyes on the prize too and will make an attempt to outbid you. The individual with the highest bid within the time limit gets to go home with the prize.
One fun factor of live stream auctions is that you can get a great deal for the items sold. Furthermore, something about purchasing an item live in front of a crowd gives people feel a sense of satisfaction.
Live Stream Platforms for E-commerce
Online Shopping Platforms
These platforms were designed for shoppers and hence have special features for the e-commerce live streams. When viewing a live stream on Shopee, there is a shopping bag icon on the bottom left. The shopper will be directed to a catalogue of the items that will be featured in the live stream when they click on the icon. This gives you a peak into what products to expect discounts for.
Shoppers can buy what they see on screen in real time. They can view the catalogue during the live stream itself to browse the products.
Another great feature of using online shopping platforms is the mini-player view that viewers can get. If shoppers wish to check out the product listing during the stream, the video will be minimised and continue playing on the side of the screen. This lets the shoppers add the product to their cart while also listening to what the host is saying.
Shopee also does live streams and during which, they will give out Shopee coins to their viewers (while stocks last). Doing so entices viewers to continue watching the stream as the coins allow them to get rebate for their purchases.
Social Media Platforms
On social media platforms, you can gauge the activity of your followers through your profile insight. From here, the live stream’s date and time can be set based on your followers’ activity.
If your business is not based on an online shopping platform, it’s also not an issue. Social media platforms such as Instagram and Facebook also allows users to conduct live streams. This is especially useful if the bulk of your consumers are active on these platforms.
Furthermore, to gain more viewers and traction for your live stream, you may invite celebrities or influencers to host the event as well! This will help bring their loyal fans over to your market and turn them into potential buyers.
E-commerce Live Stream Examples
Suntec Shopping Festival
Previously in the month of June, Suntec City held a virtual Shopping Festival via a live stream through their Suntec+ application.
Shopavision also hosts regular e-commerce live streams to sell a variety of products. During the live stream, the hosts demonstrate the product and also give a review of it to let their audience learn more about what is being sold.
Hong Heng Mobile Auctions holds regular auctions throughout the month to sell their products. For their auctions, they showcase a timer (shown in green below) that counts down for the sale of the product. The highest bidder’s comment is also pinned in real-time.
How shoppers pay for their item:
After the live stream, buyers will contact the sellers via direct message to discuss the payment and delivery details. Luckily in Singapore, we have the convenience of paying through “PayNow” and “PayLah!”, along with bank transfer. This makes the purchasing process much easier for both buyers and sellers.
Professional E-commerce Live Stream
While it is possible to conduct the live stream yourself, it may feel overwhelming. As it’s a live show, it’s a high priority for everything to be seamless. This ensures that you are able to give a good impression to your consumers as well as hold their attention.
E-commerce live streams are particularly interesting as there are graphic elements that you want to play around with. You can add a price tag for the product or even a timer if you’re hosting an auction.
Contacting a live stream service provider may help with the live stream process. Additionally, you’ll be able to include overlays and banners in your stream. These graphics will be helpful in reminding your audience of product details.
If you’re looking to have enticing graphics and visuals, feel free to contact our project coordinators for more details!