Three industries that could benefit from livestream shopping
In the age of Covid online learning is everywhere, but it’s not just the virus behind this trend. E-learning has been steadily on the rise over the past few years, and it shows no sign of stopping with the e-learning market expected to rise to $325 billion by 2025.
Online and remote learning already provides a number of benefits such as its affordability and flexibility. Now, this can be taken a step further with the implementation of liverstream shopping tools.
Whether it be a language lesson at a school, an art lesson in a studio, or even a workout session in a gym, livestream shopping provides you with the ability to stream these live, selling tickets ahead of time to the lessons/events, or even using the live session as a sales pitch for future events.
The ability to communicate with your audience live allows them get answers to their questions in real-time, thus improving the overall quality of the lesson provided, or improving sales of future courses as your customers will be better informed as to which lesson/class to purchase.
The past year alone has shown us how important the entertainment industry is in our everyday lives.
While many of the industries providing books, music, video games, e.t.c., technically fall under the retail umbrella, they often get overlooked in favor of big beauty, clothing, or even tech brands. Despite this, livestream shopping can provide a number of benefits in these industries, helping to push your brand to the next level.
Looking towards the bookstore industry the future is promising. It is no secret that bookstores took a massive hit from Amazon, with independent stores dropping by 43% just 5 years after Amazon’s big debut. But bookstores didn’t buckle, and now out the other side, smaller indie stores are seeing a rise again.
Harvard professor Ryan Raffaelli published an in-depth study on this phenomenon and identified “3C’s” that contributed to the independent bookstore resurgence: community, curation, and convening.
While the 3C’s may be applied to any area of retail they are perhaps best suited to areas of entertainment due to the strength of community that can be built around these industries.
Livestream shopping provides your brand with a simple solution to achieve these three points.
Community is easily achieved through the livestream event itself and the use of the live chat feature.
Curation can be managed through event themes. For example, you may hold a live event with a science fiction theme in which your bookstore could highlight some of the best-selling science fiction books, or even have a popular author come in to do a reading or Q&A.
Finally, convening, as with community, is achieved through the event itself. Holding live virtual events such as book club discussions, game playthroughs, e.t.c. generates groups of like-minded people who can join your stream, while chatting live to one another about your products. This may even lead to organic marketing opportunities in which your own customers may recommend your products to one another.
Much of the restaurant’s involvement in the world of e-commerce centers around the hugely popular food delivery services. However, with the application of livestream shopping, the catering industry can open up a whole new world of opportunity.
With big personalities, such as Gordon Ramsey, and long-running shows, such as Masterchef, watching people cook has long been a popular pastime. In fact, culinary shows have now proven themselves to be TV’s fastest-growing, unscripted subgenre.
This trend isn’t just exclusive to television, with cooking videos and content rising on other platforms too. Some of the more popular Youtube chefs easily rack up subscriber counts in the millions.
Shorter cooking videos are also a popular feature on many social media platforms, such as Tasty, a sister page of the popular Buzzfeed. Tiktok also has a huge number of content creators pushing out cooking videos, at the time of writing the food hashtag had a whopping 191 billion views.
Livestream shopping tools can provide catering brands with a platform to reach their customers in a new way, and even offer new services. Showing how customer's favorite menu items are prepared, or even offering live cooking classes are just two potential uses.
There are bound to be many more industries viable for livestream shopping not mentioned here. If you or your brand fall into this category don’t let the lack of mention hold you back. Livestream shopping can provide your business with a whole range of potential, those discussed above just serving as a scratch on the surf