"It now needs to re-think its strategy, investing in new tech to create more powerful and engaging online experiences. While online shopping is already well-established, a worrying number of retailers have missed a trick in this respect. It needs to move beyond the convenience of 'click to buy' and 'click to collect', to embrace all the best bits of the physical shop - namely the human contact. Think interactions, recommendations and creating a lasting, memorable experience."
"Technology is the answer and this is where livestream shopping has come into its own as a worthy contender, throwing a lifeline to retailers. Already well-established and successful in China - generating $170 billion in 2020, according to iResearch, livestream shopping is the next big thing to enter the world of e-commerce. It integrates influencer marketing, live videos and entertainment, and allows audiences to interact and converse with brands."
E-commerce transformed the retail sector by offering convenience and the ability to shop 24/7. Personalised experiences provided one-on-one attention and targeted, tailored offers that treated shoppers as individuals. Lockdown forced millions to shop online and made physical in-store destinations unreliable for connecting with consumers. Retailers must invest in new technology to create more powerful and engaging online experiences and move beyond 'click to buy' and 'click to collect' toward human contact, interactions, recommendations and memorable experiences. Livestream shopping has emerged as a strong solution, proven in China with $170 billion generated in 2020, combining influencer marketing, live video, entertainment and interactive audience engagement, and appealing to hard-to-reach Gen Z.
Read at The Drum
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