The Death of Mono-Channel Commerce
With livestream shopping breaking onto the commerce scene, we take a look at the problems with mono-channel commerce and what makes omni-channel commerce that much better.
Livestream shopping has effectively taken the best from both the in-store and online shopping experiences to create both a personal and practical shopping experience for consumers.
What is mono-channel commerce?
Mono-channel commerce, in the context of this article, refers to retail consisting of either face-to-face transactions, or a transaction made over the internet with no personal interaction.
To put it in basic terms, it’s the sale of products via one sales channel only.
Currently, mono-channel commerce is the way the majority of us conduct our daily purchases, but what if there was another way?
What is omni-channel commerce?
Omni-channel commerce is basically the opposite of mono-channel commerce.
This type of retail is still relatively new to the scene but is quickly becoming the new normal, due to the benefits that using a combination of selling methods can provide.
In the context of this article, omni-channel commerce refers to methods of selling and buying that combine elements from both the personal face-to-face type commerce and the more convenient internet shopping.
The pros and cons of face-to-face commerce
There are a number of different things that work in favor of face-to-face commerce making it a popular choice for many still today.
One of the main benefits of face-to-face shopping is the personal element that it provides. This is important in retail as sales pitches can be tweaked depending on the wants and needs of the consumer.
There are also many positives for the customers themselves. These include things such as having staff on hand to help and answer any questions, being able to try things on, being able to get a feel for the quality of a product, e.t.c.
However, as with all things in life, there are also a number of negatives to face-to-face retail.
One such pitfall is the impracticality of it. How many times have you journeyed to a store only to find they didn’t have what you wanted in stock? This is considerably more frustrating and time-consuming than simply closing your web browser or shopping app.
There are also other disadvantages that come with this type of commerce, such as being unable to shop around for the best deals (at least not with the same ease as with online shopping), not being able to read reviews on products, and feeling pressured to make a purchase due to the fact that effort has been put into coming out to the store in the first place.
The pros and cons of online commerce
Just as with face-to-face commerce, online shopping also has its own list of positives and negatives.
The many positives to online shopping have led to its increasing popularity in recent years, especially amongst the younger generations who have grown up with the internet at the forefront of their lives.
Advantages include the convenience of being able to shop from anywhere with an internet connection, the ability to compare thousands of products and find the best deals with a quick online search, the ability to filter thousands of products for specific attributes or prices, having the option to read product reviews before purchasing, and finally the ease of ending a shopping experience without being faced with the annoyance of so much wasted time and effort on the consumers part.
However, as with face-to-face shopping, these advantages are also accompanied by their own list of disadvantages.
These disadvantages include being unable to ask staff for advice easily (most websites now have an online chat but often these only run from certain times or have long wait times), being unable to try things on to see the fit, being unable to get a feel for the general quality of the product, and even being overwhelmed by the sheer number of products that you have access to.
The omni-channel solution for the future
It is clear that while both in-store and online shopping are popular, they are both lacking in many areas. This is why we believe that our tool will be the answer for the future of commerce.
Korkuma is a livestream shopping tool that allows brands to hold livestream shopping events directly from their own websites.
Livestream shopping is already proving itself in the world of commerce, and its ability to combine characteristics of both in-store and online shopping is why we rank it as a method of omni-channel commerce.
Increasingly popular amongst the Gen Z crowd, who are already on track to become the largest generation of consumers, livestream shopping allows for many of the benefits provided by both mono-channel methods of shopping discussed above.
The first benefit is provided by having a stream host. This provides the personal element that is so often lacking in online shopping. The host is able to talk directly to the audience about the products that have been chosen for the stream, effectively creating a sales pitch to not just one customer, but potentially thousands at a time.
In addition to this, the live chat feature allows for the audience to interact with the stream host and have their questions answered as if they were talking to them in person.
Audience members are also able to ask the stream host about the fit of items, the quality, and any other details they may wish to know.
Audiences can also request to see items from different angles and for close-ups on giving them as close of an idea as to what the product is like without actually seeing it in-person themselves.
Streams will also generally have fewer items featured than the brand’s website, meaning that customers won’t get overwhelmed with choices but rather will be shown the most popular products on offer.
Finally, as the stream takes place online, all the benefits of online shopping (i.e. searching for the best deal e.t.c.) are still present.
Advantages and disadvantages aside, the results speak for themselves, and livestream shopping has already proven to be a huge success in Asia. In addition to this, the demand is there for it in Europe, so don’t hesitate to take your next step into the future.