Livestream technology is taking eCommerce businesses by storm! According to Forrester Research, 43% of retail businesses in the U.S have already implemented some form of Live Streaming into their operations and are satisfied with the results.
That said, many businesses are still wary of broadcasting their product demonstrations and customer interactions live online. Some believe that live streaming could be dangerous for both brands as well as customers. They believe that if anything goes wrong while live streaming either because of the vendor’s mistake or technical glitch, it could tarnish their reputation.
Despite all the negativity surrounding Live Streaming, it is still on the rise and here to stay! The eCommerce business is booming in India and it shows tremendous potential for business growth. With Livestream eCommerce, retailers can keep their customers engaged and even offer their product information even when they are not at their stores. This allows for both upselling as well cross-selling opportunities which encourage customer loyalty.
Livestream eCommerce can also help lower the cost associated with offline shopping as well as speed up delivery times to allow customers to order products while they are still watching demonstrations or reading an article from another website. So, it’s not surprising to see eCommerce giants like Amazon, Walmart, and Alibaba investing heavily in Live Streaming. Whether Livestream eCommerce will take over traditional eCommerce shopping is yet to be seen. However, as of now, it is showing great potential in improving shopping standards.
Whatever the future results, we will keep you posted. Do read our space for more news on Livestream shopping!