Live Shopping: How to Boost Your Black Friday Sales Efficiently

Elevate your e-commerce game with Live Shopping

As the countdown to major shopping events begins, retailers are gearing up for a flurry of activity. These bustling times present a golden opportunity to not only maximize conversions but also drive substantial revenue growth.

In this fast-paced e-commerce environment, a game-changer has emerged and rewritten the rules of online retail - “Live Shopping”, also known as “Livestream Commerce”.

Live shopping brings the vibrant energy of a brick-and-mortar store right into the digital commerce. The perfect blend of real-time interaction and the ease of online shopping allows retailers and brands to reach customers in any corners. The shopping experience might take place virtually but it doesn’t stop customer engagement from getting any higher.

Shopping events that rule the roost

Before we delve into the tactics for launching a successful live shopping show, let’s explore some of the most influential shopping events worldwide and understand their potential impact on e-commerce.

• Double 11: Originating in China, the unstoppable of Double 11 on November 11th has rapidly gained popularity across Asia and beyond. Retailers leverage this day to offer exclusive deals and promotions with live shopping events taking center stage. In 2021, Alibaba’s Tmall, the e-commerce giant, reported a staggering US$84.5 billion in sales within 24 hours, breaking previous records.

• Black Friday: The frenzy of Black Friday, a post-Thanksgiving sales that sweeps across North America and Europe, has now become a global event. According to Adobe Analytics, In 2022, the total spending during Black Friday and Cyber Monday in the U.S. alone reached $20.4 billion. This trend is mirrored in many parts of the world, showcasing its universal appeal.
   
• Christmas: The holiday season is a pivotal time for e-commerce. Incorporating live shopping into your Christmas and Boxing Day campaigns allows you to connect with shoppers on a personal level. According to Statista, holiday retail sales in the U.S. were forecast to reach about US$942.6 billion in 2022.
   
• Lunar New Year: Lunar New Year celebrations taking place in January or February are a cornerstone of Asian culture, representing a time of family gatherings and gift-giving. This culture-driven festival is celebrated by countries including China, Korea, Malaysia, Singapore and Taiwan.

Tips for implementing livestream commerce for shopping events

Now, you might wonder, why opt for live shopping when you have tried-and-tested e-commerce events? Here's the deal - static product listings just don't cut it anymore. Live shopping injects life and personality into your products, allowing your customers to engage, ask questions, and get a real feel for what you offer.

That’s why live shopping trumps traditional e-commerce events and many retailers are eager to embark on their first live shopping events. Nevertheless, the key to success is meticulous preparation. Let’s get down to the nitty-gritty.

Choose the Right Products

Highlight products that resonate with the event's theme and cater to your target audience's preferences; especially, those can be easily showcased in front of the camera. Remember, it’s quality over quantity. For example, if you're participating in a Lunar New Year event, consider featuring products with cultural significance e.g., pre-made meals or those that align with the festive spirit.

Find the Optimal Presentation Team

No matter how awesome your products are, without strong product messaging and enough trust, it might take customers quite some time to notice your brand. Additionally, authentic user-generated content (UGC) and passionate employee-generated content (EGC) are equally valuable when it comes to brand advocates. In addition to individuals with great storytelling skills, seek out those who have expertise in product knowledge, such as store employees.

Engage with Your Audience Constantly

The moderator has to keep not only the live shopping event informative and entertaining, but also audience engaged. Leverage interactive elements e.g., live chat, polls, Q&A session to encourage customers to communicate with presenters. Better yet, brands can even integrate live stream platform with AI chatbot feature to organize and promptly answer frequently asked questions.

Set Up a Camera, Lighting and Equipment

The overarching goal of livestream commerce is to make a great first impression when meeting viewers. To ensure an enthusiastic atmosphere and convey product information more effectively, spotlights, high-quality of filming equipment and visualization matter.

Choose the Feasible Livestream Platform

Select a live shopping platform that aligns with your brand and provides essential features like real-time interaction and secure payment options. While you can stream your event on platforms like Facebook, Instagram, LINE or TikTok, integrating your own live shopping platform into your online shop is highly recommended for a more professional approach.

Examples of brands in Asia using livestream shopping

Don’t miss out on real-world examples of e-commerce in Asia that have achieved notable success with live shopping.

NITROI, a Japanese furniture and home accessories retail company, has their employees hosting in-store live shopping show (ニトリLIVE) monthly for promoting seasonal products. As of March 2023, it has already hosted 86 shows with more than 2.6 million audience and will add more manpower to livestream commerce as well as the number of shows in the coming year.

AmorePacific, a South Korean beauty and cosmetics producer with more than 30 brands, launches a live commerce broadcast schedule on Amoremall, its D2C e-commerce platform before the traditional Korean Mid-Autumn Festival Chusok. Customers can experience a variety of content and shop 24 hours a day just by accessing Amoremall.

Another interesting example is Queen Ban Mei (天后闆妹), a Taiwanese influencer and the owner of cosmetics brand Bessie Lady, who has been nurtured her loyal audience for years. During last Double 11, the company made roughly US$6.2 million on Facebook through livestream selling. This extraordinary figure underscores the magnitude of consumer participation.

Level up your e-commerce business with the right Live Shopping software

As today’s e-commerce market is getting more diverse, relying solely on one platform can be a risky move. Recent events of social commerce have shown that unexpected changes and bans overnight can disrupt your retail business and leave you unprepared. Your brand would suffer and be left scrambling to find alternative solutions. Not to mention, transitioning into livestream selling can be a daunting task for businesses. Without the right technical infrastructure and tools, it's easy to feel overwhelmed and unsure of how to achieve success in this new landscape.

That's why investing in cutting-edge software e.g., OSP’s MOVEX | Live Shopping is crucial for your e-commerce business.

With MOVEX | Live Shopping, presenter preparation is streamlined, ensuring that your team is confident and ready to deliver impactful presentations. The software offers swift adjustments, allowing you to quickly adapt your livestream event on the fly. The AI-powered chatbot provides real-time responses, enhancing customer engagement and satisfaction.

From the international marketplace, fashion brands to sports influencers, OSP’s live shopping software has helped businesses of all sizes thrive in the livestream selling space. Whether you're a seasoned pro or just starting out, it has got you covered.

So why wait? Follow suggested tips and empower your online business with MOVEX | Live Shopping for a successful event and watch as your livestreams become engaging experiences that generate revenue for both you and your customers.