{"id":7061,"date":"2020-06-04T10:08:20","date_gmt":"2020-06-04T10:08:20","guid":{"rendered":"https:\/\/golive.shop\/?p=7061"},"modified":"2024-08-26T09:38:11","modified_gmt":"2024-08-26T09:38:11","slug":"new-era-retail","status":"publish","type":"post","link":"https:\/\/golive.shop\/it\/blog\/scenario\/new-era-retail\/","title":{"rendered":"A New Era of Retail is coming"},"content":{"rendered":"

[et_pb_section fb_built=”1″ custom_padding_last_edited=”on|phone” _builder_version=”4.21.0″ custom_padding=”0px||100px||false|false” custom_padding_tablet=”0px||100px||false|false” custom_padding_phone=”||48px||false|false” da_disable_devices=”off|off|off” global_colors_info=”{}” da_is_popup=”off” da_exit_intent=”off” da_has_close=”on” da_alt_close=”off” da_dark_close=”off” da_not_modal=”on” da_is_singular=”off” da_with_loader=”off” da_has_shadow=”on”][et_pb_row column_structure=”1_2,1_2″ disabled_on=”on|off|off” _builder_version=”4.21.0″ _module_preset=”default” custom_padding=”0px||0px||false|false” global_colors_info=”{}”][et_pb_column type=”1_2″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.21.0″ _module_preset=”default” text_font=”|300|||||||” text_font_size=”18px” text_line_height=”1.4em” global_colors_info=”{}”]<\/p>\n

Retailers recognize that COVID-19 will have a significant impact on their business and it\u2019s time to think through the longer-term implications. According to analysts\u2019 studies, there are key areas where retail execs should be focusing their attention in today\u2019s highly-fluid social, economic environment. <\/span>They need to restructure their operating models as well as rethink and evolve the clients\u2019 relationship. Retailers have to find a new way to maintain trust in brand, products, and services, reset expectations for today, and recover the customer experience.<\/span><\/p>\n

[\/et_pb_text][\/et_pb_column][et_pb_column type=”1_2″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_image src=”https:\/\/golive.shop\/wp-content\/uploads\/2023\/08\/GOLIVE_New-Retail.jpg” alt=”Live Shopping Show” title_text=”GOLIVE_New Retail” _builder_version=”4.21.0″ _module_preset=”default” box_shadow_style=”preset3″ box_shadow_color=”#4B4F54″ global_colors_info=”{}”][\/et_pb_image][\/et_pb_column][\/et_pb_row][et_pb_row custom_padding_last_edited=”on|desktop” _builder_version=”4.21.0″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” custom_padding=”48px||0px||false|false” custom_padding_tablet=”48px||0px||false|false” custom_padding_phone=”48px||0px||false|false” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_text _builder_version=”4.21.0″ text_font=”|300|||||||” text_font_size=”18px” text_line_height=”1.4em” background_size=”initial” background_position=”top_left” background_repeat=”repeat” global_colors_info=”{}”]<\/p>\n

For sure e-commerce, chatbots, and mobile apps are offering some small rays of hope in the shutdown, but for all the talk of fashion\u2019s digital transformation, it\u2019s an industry that still runs on brick-and-mortar, meeting and interacting with consumers face-to-face. So they\u2019re not enough to save the industry, and they\u2019re hardly big or profitable enough now to support the whole business. In addition, some aspects of the in-store experience go missing when shoppinFg in the digital world.<\/p>\n

So today the fashion sector is proving to be one of the hardest hit as a result of the coronavirus pandemic, with millions of jobs likely to be lost and thousands of companies facing a fight to stay afloat.
But there\u2019s a new trend that is offering a glimmer of light. Cue in\u00a0Live Commerce (or Live Stream Shopping)<\/strong>, which enhances the shopping experience and integrate other elements, such as entertainment, social features, and the atmosphere in brick-and-mortar stores.<\/p>\n

\n
\"\"<\/figure>\n<\/div>\n

Live Stream Shopping: the New Retailer Frontier<\/h2>\n

Live Stream Shopping is a new term used to describe the\u00a0combination of streaming video and e-commerce<\/strong>, promising to revolutionize the retail industry and consumer shopping habits.
By fusing online retail with live streaming, this solution is bringing consumers one step closer to the\u00a0in-person experience.<\/strong><\/p>\n

It\u2019s born in China where it has actually become the\u00a0number one source of revenue per hour<\/strong>, ahead of mobile games, television, radio, videos, and music. In the Eastern market, Live Commerce centers around influencers broadcasting live to millions of viewers and showcasing products, trying them on, and describing them. As an example of its exponential success, China\u2019s top live-streaming celebrity\u00a0generated roughly US $51 million in sales in a single day<\/strong>.<\/p>\n

However, it would be wrong to consider it an exclusive Chinese tendency, on the contrary, Western tech and retail leaders begin to be inspired by this omni channel retail, social commerce, and mobile commerce innovation and the trend is starting to take off in a much more innovative way. This is because they immediately understand the great impactful and benefits Live Commerce leads with.<\/p>\n

<\/span><\/p>\n

<\/span><\/p>\n

To mention a few:<\/span><\/p>\n

User Experience<\/strong>
Interactivity \u2013 Engagement<\/strong>
Loyalty<\/strong>
Innovative Brand Exposure<\/strong><\/p>\n

<\/strong><\/h2>\n

<\/strong><\/h2>\n

How it works<\/h2>\n

Live streaming refers to online streaming media simultaneously recorded and broadcast in real-time. The greatest part of live streaming is engaging with the audience: instead of guessing at what the consumers want, streamers can use interactive chats. So viewers become an active part of the program, and they are more apt to remain engaged and learn about a product or service: unsurprisingly,\u00a0it\u2019s been calculated the engagement increase by 600% and conversion rate by 10%.<\/strong><\/p>\n

\n
\"\"<\/figure>\n<\/div>\n

Watch \/ Chat \/ Buy:\u00a0<\/strong>the mechanism is simple<\/h3>\n

The brand organizes a Live Stream Shopping to showcase products. The Streamer presents the items offering a friendly pseudo \u201cin-store\u201d shopping experience. Viewers watching the Livestream\u00a0can easily interact chatting with the Streamer who will respond in real-time<\/strong>, encouraging conversation and engagement. Meanwhile, they can browse the carousel of products, add the items to the shopping cart, and buy without leaving the stream. The result is a huge boost in converting viewers to customers or customers to loyal clients.<\/p>\n

Real-time Analytics & Artificial intelligence: GOLIVE’s Killer Feature<\/h2>\n

Live commerce performances and real-time analytics are a killer feature of our\u00a0Live stream shopping Platform<\/strong>:\u00a0GOLIVE<\/strong><\/a>. It reports information about the audience and their features and KPI concerning the conversion rate and sales trend during and after the live commerce. A sentiment analysis model also could give precious information about the quality of users\u2019 digital content. Data could also drive the best time for launching live commerce, which is its right duration, which influencer chooses for the direct, and so on. Moreover, the\u00a0Artificial Intelligence integration can derive meaningful conclusions<\/strong>\u00a0from a massive amount of data helping Brands to give a personal touch to customers\u2019 experiences, like providing error-free and personalized suggestions, segmenting customers with specific algorithms, or predicting their behavior.<\/p>\n

To try first hand GOLIVE and its AI capabilities, start your 30-day free trial<\/strong>!<\/p>\n

 <\/p>\n

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Artificial Intelligence and Machine Learning are already changing the world of marketing as we know it.<\/p>\n","protected":false},"author":10,"featured_media":7433,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"

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