Fashion Clothing Company LF Corp. has combined real-time chat, live streaming and one-click purchasing as a way to create a seamless online shopping experience for customers. As a result, LF Corp. has seen an increase of 30% year over year since 2015.
TMON, formerly known as Ticket Monster, was one of the first retail platforms to try live trading in Korea in 2017. Since the first video premiered in September 2017, it recorded an increase in viewership of 3.036 percent as of April 2020.
In Korea, traditional retailers and IT companies such as Lotte Shopping, Hyundai Department Store, Kakao, and Naver have also started participating in in-person trading.
How Can Live Trading Impact or Change the Market
Huawei was one of the first companies to release a live trading platform integrated with augmented reality capabilities. This solution will allow influencers to connect their phones to multiple cameras and Latest Mailing Database switch between them with one click. Real-time background processing is also integrated into the technology which will give way to digital background replacement as well as displaying digital 3D models in real-time.
ECommerce websites and marketplaces usually use historical data to give sellers a good understanding of consumer behavior. But with live trading, we provide space for seller/brand-consumer interaction. Hence, in addition to analytics and insights, brands/sellers can learn about consumers through their interactions (what they want, what they ask about the brand/product)
Popshop Live is a live streaming platform
brands and sellers can host live shows. So far it has achieved great success for the brands using it. LA Japan, for example, can collect $17,000 in sales from a single live stream event.
According to LA Japan, this is more than their average offline and online sales. TechCrunch says that part of the reason for Popshop Live’s success can attributed to the sense of community it provides buyers and sellers. Currently, the platform is available only in invitation form. TikTok has also been focused on live streaming since the start of the COVID-19 pandemic. It also started integrating a “Buy Now” button to allow users to make purchases via links posted on the platform.
Live streaming has paved the way for us to bridge the gap between convenience shopping and personal interaction. And SAB Directory while part of the reason live commerce has become so popular is due to the COVID-19 pandemic, behavioral adaptations and consumer technology enabling live streaming remain an important pillar of the buying experience in the aftermath.