The rise of live commerce has been one of the most interesting developments in online shopping over the past few years. For those who are not familiar, live commerce is essentially a live streaming broadcast of a shopping or Q&A session. Marketers or brands can broadcast live sessions on different platforms like YouTube, Instagram, Facebook, or TikTok.
While live commerce is still in its early stages, it has already begun to change the way people shop online. In fact, according to a Coresight Research analysis, the US live streaming market would nearly double in size to $11 billion in 2021.
Here are five of the most important live commerce trends to watch out for in 2022:
More brands will use live commerce
One of the biggest trends we expect to see in live commerce is an increase in the number of brands using it. Right now, live commerce is still mostly used by smaller brands and individual influencers. However, we expect to see more and more big brands start using live commerce in the coming year.
The main reason for this is that live commerce allows for a more personalized shopping experience. Customers can see the products up close and ask questions about them in real-time. It is also a great way to create a sense of urgency and encourage customers to make a purchase. When customers see a product being sold in real-time, they are more likely to feel a sense of urgency and act on it.
Influencers will play a bigger role in live commerce
Influencers have already played a big role in the development of live commerce. And we expect that trend to continue in 2022. One of the reasons why live commerce has been so successful is because it allows shoppers to get real-time recommendations from people they trust. As influencers become more involved in live commerce, we expect to see them playing an even bigger role in helping shoppers make purchase decisions.
Virtual reality will be used more in live commerce
Virtual reality has been used in e-commerce for some time now, but it is expected to become even more prevalent in the coming years. For many years, VR has been used more to give shoppers a realistic product experience before they buy it.
By being able to see how an item looks and fits in real life, shoppers are more likely to make a purchase. In addition, VR can also be used to create unique and immersive customer experiences that are not possible with traditional e-commerce. For example, shoppers could be transported to a virtual showroom where they can explore products in a realistic environment. This type of live commerce is expected to become more and more popular.
Live chat will become more common
Another trend we expect to see in live commerce is an increase in the use of live chat. It is a great way for shoppers to get their questions answered in real-time. And it can be a valuable tool for brands to use to improve the live shopping experience. Enabling the live chat option allows sellers to build a rapport with their audience and create a more personal shopping experience.
More platforms will offer live commerce
Right now, live commerce is most popular on social media platforms like TikTok and Facebook. But we expect to see more platforms start offering live commerce in the coming year. A study by the Influencer Marketing Factory found that 40% of Gen Z have made at least one purchase after viewing a social media live stream on TikTok.
If you are looking to increase your revenue and profits in the coming years, Live commerce is the way to go. It is the hottest trend in e-commerce and will continue to be in the coming years.