As Live Shopping experts, we’re witnessing an evolution in live shoppable videos. Live Shopping has undergone a significant transformation recently, shifting from a starting role as a primarily One-to-Many tool to becoming 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 special approach empowers niche brands to forge exclusive connections with customers, delivering products that are perfectly aligned with what they like.
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One-to-Few: targeting quality over quantity
Luxury brands have recognized the potential of One-to-Few Live Shopping as a strategy to offer their audience a selected and exclusive shopping experience. Unlike the traditional One-to-Many live shows, this approach allows brands to talk to a designated group of viewers, who are highly qualified and interested in the brand’s products. Viewers can access the live show only through personal invitations or pre-registration from the brand’s website.
By embracing One-to-Few Live Shopping, luxury brands can offer a closer and more personalized mood during live events, fostering a sense of exclusivity that resonates with their customer base. The live events can feature limited-edition collections and personalized consultations, improving the overall shopping experience and the affinity between the brands and their customers. Brands can engage in real-time conversations, answer questions and address concerns, strengthening a sense of community.
The One-to-Few approach represents an innovative frontier that brands are beginning to explore, offering opportunities for companies eager to lead in this emerging form of live shopping. According to a 2022 Coresight Research, in 2022, 14% of users found it highly suitable, and we are confident that this figure will have surged in the coming year.
Benefits of One-to-Few Live Shopping
First of all, One-to-Few Live Shopping adapts to individual customer needs and preferences. During an exclusive live shopping session, sellers gain insights into customers’ likes, dislikes, preferences, and requirements.
You can access advanced reporting and analysis on audience sentiment with GOLIVE, the AI-powered live shopping platform developed by Radicalbit. To learn more, read our article about GOLIVE’s features and the power of AI in Live Shopping.
This personalized approach fosters a sense of being valued, growing trust and customer loyalty. Additionally, sellers can offer product recommendations aligned with customers’ interests, increasing the likelihood of successful sales. This personalized approach to Live Shopping can significantly boost conversion rates. By offering tailored recommendations and addressing customer inquiries, sellers can effectively facilitate viewers’ purchases. Moreover, product demonstrations can enhance customers’ understanding, helping them in making more informed choices. This personalized strategy increases the likelihood of successful sales, ultimately resulting in increased revenue for the seller.
Several industries stand to leverage the capabilities of the One-to-Few approach, offering their customers exclusive and personalised experiences. These sectors encompass a spectrum of luxury and high-end products, including the realms of couture fashion, fine wine and spirits, top-tier sports equipment, jewellery and luxury beauty products.
Exclusive Live Shopping in Omnichannel strategy
One-to-Few Live Shopping is a tool that can play a fundamental role in a brand’s integrated Omnichannel strategy. This strategy revolves around the mix of online and physical stores, offering a smooth and unified shopping experience. In this context, live shoppable content is a key driver for achieving essential goals:
- Local Awareness: with Live Shopping, brands can generate local buzz and capture the attention of their community. It’s not just about going global; it’s about making an impact in the neighbourhood – increasing brand awareness and engagement.
- Drive-to-Store: Live shoppable content encourages customers to step out of their digital comfort zones and explore physical stores, all while enjoying a seamless shopping journey. This synergy enriches the customer experience across different touchpoints, forging a deeper connection between brands and their audiences.
The adoption of Live Shopping is expanding rapidly across a broad range of retail sectors, and investment in the channel is high; according to Coresight Research, 28% of retail companies that are currently performing live shopping shows have allocated more than 50% of their total annual marketing budget on shoppable videos in 2022.
Wrapping One-to-Few Live Shopping up
The One-to-Few approach has become a game-changer for brands, as it allows them to forge connections with highly qualified audiences, offering an exclusive digital shopping experience that’s accessible through invitation or pre-registration. This strategy shift is a revolution for brands. By directing efforts towards a select group of potential customers, brands can maximise the ROI of their live shopping shows, while Live Commerce can be unified within an online and offline Omnichannel strategy.
Brands that embrace these shifts are not only keeping up with the times but also delivering enhanced value and engagement to their customers in this ever-evolving digital landscape.
You can start your exclusive live shopping content broadcasts with GOLIVE, the AI-powered live shopping platform.
Schedule a demo today to explore ways to elevate your eCommerce conversion rates!