Retail technology is empowering brands with tools to replicate in-store experiences online. By bridging the gap between physical and digital creates new opportunities to empower retailers and deliver on innovative online shopping experiences. Here are 5 reasons why live video shopping is the future of retail.
Traditionally on eCommerce websites, customers embark on a self-service journey which leads to low conversion rates and average order value. Live video shopping is an effective tool to personalise shopping experiences without coming across as “creepy”. In fact, 90% of consumers will share data with a brand that offers the right value exchange. A further 80% of shoppers say they will only shop with brands that personalise the experience. With that in mind, live video shopping experts can utilise a needs-based analysis in real-time, meaning the expert can curate a personalised basket inside the video call. The result is a tailored experience unique to the customer; something that is difficult to achieve virtually.
2) Replicate in-store experiences virtually
Customers enjoy online shopping because it’s convenient, accessible and provides a wide range of options. Yet, customers choose to shop in-store due to its social interactions and the ability to touch, feel and immerse themselves in the product. Live video shopping aims to bridge that gap by making products inside the call shoppable. This allows the customer to gain a 360-degree perspective of the item, viewing images, videos and product specs before making a decision in confidence. Live video is a powerful solution for brands looking to engage with their customers online and truly reflect the brand’s customer-centric values. There is certainly a renaissance in customers wanting to feel more valued and catered for, so brands need to decide now on how they are going to meet that demand.
3) Empowers retail staff with technology
High-street retail is experiencing problematic changes, seeing lower footfall traffic entering brick-and-mortar stores. However, live video shopping technology can still empower retail staff to virtually sell to their customers. By developing in-demand skills it will create a well-equipped workforce that’s motivated and prepared for innovative changes in retail. They can utilise valuable insights gained to present sound suggestions and recommendations. This makes retail work far more engaging and satisfying.
4) An alternative to chatbots
While chatbots improve on efficiency and speediness when answering simple inquires such as delivery times, they fall flat on customer service and selling. Customer’s frustration grows evermore when they are not connected to a real person. Therefore, by scaling eCommerce operations with live video technology, brands can capture customer demand effectively. Whether that is scaling across contact centres or in-store, retailers can establish meaningful customer relationships built on outstanding customer service and loyalty.
The relationship between trust and data becomes more ambiguous. When used subtly and effectively, data-driven marketing can openly invite customers to shop with brands. In the future, customers will limit the amount of data they share, meaning companies have poor insight into their audiences. But that should not be the case. Live video shopping presents a safe space where the retailer and customer can confidently share information and insights which is used to benefit the customer. Live video shopping platforms ensure all customer data is secure and protected meaning it will never be shared with third parties.
To sum up
As retail continue to adapt to changing consumer behaviour, new technologies and innovative approaches to selling; brands must look to how they will stay digitally relevant. Those who can deliver an engaging customer experience, will find customers will be empowered to make confident purchase decisions. It is time for retailers to deliver a memorable experience online and invite them into a virtual world of high-street shopping that includes all the benefits of online.