Streams.livethe platform, which launched in late 2020 amid the pandemic, announces record results in November campaigns for its brand-to-customer interactive online commerce solution.
In the first two weeks of the month, the technology solution enabled over 150,000 minutes of streaming live interactive shopping sessions with renowned brands from industries such as technology, beauty, pharmaceuticals, fashion and publishing houses. The click-to-buy conversion rate for these shopping campaigns was 8.5%, with shoppers spending three times more time in the shopping session than with a traditional digital campaign.
Launched by Streams.live in Romania, the concept transforms online shopping into an interactive experience, where shoppers can communicate directly with brands or influencers to find out how to use a specific product and its detailed characteristics, and make the purchase directly from the Allow app out without leaving the streaming session. Live stream shopping is an option that allows brands to connect directly with audiences, increase customer loyalty and achieve up to 5x higher conversion rate than traditional commerce. Brands in various fields, such as technology, beauty, pharmaceuticals, fashion or publishing, saw conversion numbers from the time the ad was viewed to the product being added to the shopping cart. However, this solution is available to companies of any industry that want to diversify their sales channels and marketing methods.
“The live stream shopping market is gaining momentum globally and is evolving year by year, considering the desire of consumers to make assisted purchases from the comfort of their own homes. In Romania, the phenomenon is still in its infancy. However, we are observing a positive development in this market, evidenced by the multitude of brands that want to be at the forefront of adopting the solution, their multiple fields of activity and the involvement of customers and viewers. Thus, the click-to-buy conversion rate recorded in these campaigns was 8.5%,” says Mihai Mănescu, Customer Success Manager, Streams.live.
Live stream shopping is changing the e-commerce market worldwide
Global e-commerce has grown steadily in recent years, and new technologies that create a direct and personal interaction between brand and customer are expanding rapidly. As the largest trading markets, China and the United States of America have seen the greatest successes. According to SUA forecasts, live stream shopping revenue will reach $20 billion in 2022 and $55 billion in 2025 statisticsimpressive growth for the online retail segment.
In China acc statistics, Live Stream Shopping has become the new standard of e-commerce and is recognized as one of the most efficient methods. In 2021, the live commerce market in China exceeded 2.27 trillion yuan (about $318 billion), and it is currently expected to reach 4.9 trillion yuan (about $687 billion) by 2023.
In Romania, the fashion segment was among the first to implement this solution, mainly when the pandemic restricted shoppers’ access to physical stores.
”Live shopping brings obvious benefits to online stores as it sits on the border between social media, live streaming and e-commerce. It is a type of teleshopping on social media that helps consumers by allowing them to see the products and how they work better, thereby providing interactivity with the products and enhancing the shopping experience. I expect social media commerce will grow and from the start we wanted to be present on this channel and include it in our recurring projects”explains Raluca Radu, Country Manager of ANSWEAR.ro and founder of MTH Digital.