Streaming Services Promise New Shopping Opportunities to Consumers
17 May 2019 - 11:05 by Graham Miller
The rise in the number of platforms which allow individuals and brands to stream content to vast audiences around the world in real time has changed the way that people consume multimedia output. Now experts are predicting that this will increase its influence over safe shopping online, with sponsored streams, advertising and integrated purchasing amongst the most potent future routes that this trend will take.
Warc reports that Asian shoppers are amongst the most eager to embrace live steaming as a means of finding and buying products - primarily because of the interactivity that is afforded by this technology.
While traditional shopping channels broadcast on television are fairly limited in their ability to facilitate a dialogue between the presenters and the audience, a live streamed sales service operating over the internet can allow viewers to post questions and get answers in real time.
This level of engagement with prospective customers is seen as something that can significantly boost sales and help brands and retailers to tap into a new market of web-savvy, always-online consumers.
In some instances the use of live streaming to advertise products has allowed for a 500 per cent uptick in sales, which is an eye-catching figure for any company that is thinking about taking the leap and setting up their own stream.
The question that retailers face is whether to offer live streams embedded in their own e-commerce sites, or whether it makes more sense to jump on an established third-party streaming platform. The former allows for a more controlled experience, while the latter should open the products up to a wider audience.
Live streaming as a tool for retail marketing is not a new concept, but the technology and connectivity infrastructure have now reached the stage at which it is much more viable.