77% of consumers watch video reviews before buying.
45% of consumers between the ages of 18 and 25 trust a influencers.
70% of sales are generated after Live Shopping.
During the 2023 National Marketing Congress, the main challenges that brands face when venturing into Livestream Shopping were discussed.
Brands define Livestream Shopping as purchases that are made live. In countries like China, this type of sales generates around 700 million dollars, It has grown because people like to listen and connect, which generates an emotion that motivates them to buy, said Alejandra Castillo.
While Luis Miguel, Director of Communications at El Palacio de Hierro, commented that if Live Shopping fever came to Mexico, a growing opportunity lies in purchases made through lives in social networks. The department store is carrying out tests in this sector of marketingbut assures that there is still a long way to go.
The Fira Live brand points out that The main obstacle for Livestream Shopping to have significant growth in the country is connectivityfollowed by the insecurity that exists in consumers when they want to buy on a platform.
What makes people engage with brands has to do with curiosity and trust in the platform. Credibility is one of the main characteristics that make consumers believe in companies; the influencers They help to achieve this goal as long as they are consistent with what they do and say, because sometimes they recommend a product and end up using the competition’s.
In this sense, Alejandra Castillo stressed that it is important that in marketing issues credibility in the part of the Livestream is relevant because when presenting a product, highlighting its characteristics as they are helps to create a engagementbecause cases are known where at the time the buyers receive the merchandise it is not as they had made it seem.
Strategies to achieve good sales in Livestream Shopping
According to Luis Miguel, it is a priority to improve the shopping experience and that one of the main challenges is that consumers want to touch the products before buying. “No doubt the part of influencers or content creators helps this experience a lot,” he commented.
As for Palacio de Hierro, its strong market when doing Livestream Shopping is the beauty industry, since the influencers it’s showing the product and how to apply it, so it becomes a very organic conversation with the audience. The multi-brand also helps the engagement.
What a platform must have to connect with the consumer is: Exploit customer interaction, audience entertainment, and metrics that let you know the characteristics of the stream, for example, what time you had the most views or how many people in a certain age range watched the content.
The brands that ventured into Live Shopping have had to face a new environment after the Covid-19 pandemic, since when stores reopen, consumers want to return to face-to-face shopping. Given this, the experts commented that it is essential that the content that is made on the platforms shows the digital experience, that is, a very good review.