Live shopping outperforms the traditional online shopping routine, transforming it into an engaging, real-time experience.
Sellers can showcase products, answer questions, and entertain viewers through live video streams. As the live shopping industry evolves, exciting features like augmented reality try-ons and interactive polls influencing product choices emerge. The realm of possibilities is expanding, revolutionizing customers’ shopping experience by bringing them closer to the products and the sellers who make it happen.
Let’s see what are the upcoming trends for 2024.
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Physical and digital spaces ultimately converged
The rapid advancements in augmented reality (AR) and virtual reality (VR) can offer immersive experiences for shoppers. People can virtually try on clothes or visualize furniture in their own living room before hitting the “buy” button.
AR and VR can transform how consumers engage with products, enabling more informed decisions. Shoppers can observe product details up close, examine items from different angles, and visualize them in their own space. This interactive approach blurs the line between online and offline shopping, delivering a more realistic and satisfying experience.
AI for purchase recommendations
AI is more and more revolutionizing personalization in online shopping. Smart algorithms analyze preferences, offering tailored product recommendations for a unique and satisfying online shopping experience. On eCommerce websites, for instance, AI-powered chatbots can provide instant assistance, guiding customers through their journey.
Also our AI-powered Live Shopping platform is infused with AI, offering data-driven dashboards in order to understand information about live show viewers’ behaviour and, consequently, act to create more engagement with the audience and increase conversions.
The rise of user-generated content
Beyond professional or branding content, user-generated content is already taking the stage on social media. This type of content not only appears more compelling but also leaves a positive impact on the audience. According to a report by EnTribe, 86% of consumers trust a brand that uses user-generated content over influencer marketing; therefore, incorporating such content into your live shopping strategy can significantly enhance engagement and capture the interest of your community.
Did you know that with GOLIVE, you have the flexibility to upload pre-recorded videos, ensuring complete freedom and peace of mind during your broadcasts? Explore more by giving our free trial a try.
Live Shopping for Omnichannel marketing
According to Shopify, 60% of consumers express their intent to become repeat customers when they receive a personalized shopping experience from brands. Clients prefer brands that recognize, remember, and offer relevant recommendations, with 80% willing to share data for personalized experiences. Customer loyalty programs, adopted by around 53% of consumers, prove effective for acquiring first-party data.
Many clients consult brands’ services for advice before visiting physical stores, particularly for products needing in-person evaluation. This approach allows for thoughtful decision-making, enhancing the overall shopping experience. Brands’ websites and live shopping content act as digital showcases, promoting a Drive-to-Store strategy and an Omnichannel approach. By offering interactive engagement and expert advice, brands bridge the online-offline gap, ensuring a comprehensive and customer-centric experience.
As an AI-powered Live Shopping platform, GOLIVE can indeed help your business boost an omnichannel strategy and improve the drive-to-store traffic – discover more in our blog post.
Retailtainment and experiential marketing
For physical stores, setting apart from online counterparts hinges on delivering distinctive in-store experiences, a concept known as experiential marketing. Physical stores can enrich the customer-brand communication through relationship marketing. Immersive and shareable experiences, often termed “retailtainment,” breathe life into the brand.
Take Huda Beauty as an example, hosting a sci-fi-themed pop-up store in Covent Garden, London, to launch their latest eye-shadow palette, Mercury Retrograde. The exterior showcased a metallic, geometric design, while the interior featured galaxy elements with mirrored surfaces. To enhance social media participation, visitors were invited to interact with the pop-up store elements, fostering engagement and community building.
You can harness the potential of physical retail spaces to promote live shopping content; in-store screens can simulcast live broadcasts from studios or other store locations. Shop-front screens serve as effective tools to magnify in-store broadcasts, attracting passers-by and elevating client engagement. Live shopping can be employed as a powerful tool to drive sales in physical stores by sharing discount codes to be redeemed during live broadcasts exclusively.
One-to-Few Live Shopping
Live Shopping has undergone a significant transformation recently, shifting from a starting role as a primarily One-to-Many tool to a powerful instrument to engage a carefully selected group of prospects and customers. This evolution has brought opportunities, especially for luxury brands, to harness the potential of One-to-Few Live Shopping content.
With this approach, Live shopping transforms into an exclusive VIP environment, mirroring an in-store experience. This approach empowers brands to forge exclusive connections with customers, delivering products that are perfectly aligned with what they like. Several industries stand to leverage the One-to-Few Live Shopping, especially luxury and high-end products, including couture fashion, fine wine and spirits, top-tier sports equipment, jewellery and luxury beauty products.
In 2024, new trends will rise for Live Shopping content. Virtual and Augmented Reality can be used to redefine community engagement, while AI offers personalized shopping recommendations. Cause-driven and user-generated content takes the spotlight, emphasizing authenticity in a world of conscious consumerism. The shift from hard-sell to experiential marketing, exemplified by retailtainment, marks a new era where shopping becomes a memorable journey.
You can start planning your live shopping strategy for 2024 today with with GOLIVE, the AI-powered live shopping platform.
Schedule a demo today to explore ways to elevate your eCommerce conversion rates!