Live Shopping vs. traditional e-commerce
See which option is best for your business with this guide comparing Live Shopping vs. traditional e-commerce
In recent years, there has been a rise in the popularity of live shopping, a form of e-commerce that blends live video streaming with online shopping. This new form of online shopping has gained significant momentum in markets such as China, where it is estimated to be a $136 billion industry, and it is starting to make waves in the Western market. In this article, we will offer you a guide comparing live shopping vs. traditional e-commerce, highlighting the differences between the two and identifying the advantages and disadvantages of each. We will also provide orientation on which option is best for a business looking to expand their online presence and increase sales.
What is Live shopping?
Live shopping, also known as live streaming shopping or live video shopping, is a form of e-commerce where an online retailer uses live video to showcase their products and services to potential customers. It is a highly interactive shopping experience, where customers can engage with the seller in real-time and ask questions about the products being sold.
Live shopping is often used as a marketing tool, with retailers using social media platforms to broadcast live events but use a video commerce platform such as onlive.site to host the event and take advantage of the interactive features. Customers can then make purchases directly from the live stream, via in-stream shopping features offered by the platform.
What is traditional E-commerce?
Traditional e-commerce is the process of buying and selling goods and services online. It involves customers browsing products on a website or app, adding items to their shopping cart, and completing their purchase through a checkout process.
Traditional e-commerce has been around for many years and has become an established and trusted way for businesses to sell their products online. E-commerce sites such as Amazon and eBay have revolutionised the way we shop online, providing consumers with access to millions of products at competitive prices. However, the shopping experience is still not at the same level as going into a shop. People can’t get advice from a professional, product descriptions are too long and hard to read and some images can be misleading or not clear.
Advantages of Live Shopping
1. Highly engaging
One of the main advantages of live shopping is that it is highly engaging. Customers can interact with the seller in real-time, ask questions about the products being sold, and get a closer look at the items on offer. This level of interactivity can help to build trust and increase customer loyalty.
2. Increased sales
Live shopping can also lead to increased sales. By showcasing products in a live stream, retailers can create a sense of urgency and encourage customers to make a purchase. The ability to make purchases directly from the live stream can also make the buying process quicker and more convenient for customers.
3. Access to a wider audience
Live shopping can provide access to a wider audience. By broadcasting live streams on social media platforms, retailers can reach customers who may not have found their products through traditional online advertising. This can help to increase brand awareness and attract new customers.
Nevertheless, some disadvantages include the technical difficulties and some experience in video production. Depending on the platform you chose, these disadvantages no longer exist as they will support you along the way with manuals, video explanations and advise you on best practices like we do at onlive.site.
Advantages of traditional E-Commerce
1. Convenience
One of the main advantages of traditional e-commerce is convenience. Customers can browse and purchase products at any time of the day or night, from anywhere in the world. This makes it easier for customers to shop. However, Live Shopping videos can be saved on any website in the form of a tv channel and users can watch the shows at any point in time if they want product details.
2. Lower production costs
Traditional e-commerce can be less expensive to produce than live shopping. While traditional e-commerce still requires high-quality product photography and descriptions, it does not require the same level of technical and production knowledge as live shopping.
3. Wider availability
Unlike live shopping events, traditional e-commerce websites are available 24/7. This means that customers can browse and purchase products at any time, without having to worry about missing out on a limited-time offer. For cheap and simple products, this might work best.
However, the pandemic proved that online shopping does not offer the same experience that a physical shop or a shop assistant can give you. Shopping online is a boring task with very little engagement and interactivity. There is very little to no room for customers to ask questions, get recommendations or see products with movement which can lead to customer mistrust. Moreover, there is high competition when it comes to websites and with big giants like Amazon, businesses struggle to stand out from the crowd and give a personalised experience to their customers.
Which option is best for a business?
The choice between live shopping and traditional e-commerce will depend on a variety of factors, including the type of products being sold, the target audience, and the resources available.
For businesses that sell products that require a high level of engagement, such as fashion or beauty products, live shopping can be a highly effective way to showcase their products and increase sales. However, a compromise has to be made in order to succeed such as good planning, promotion, consistency and communication skills.
For businesses that sell products that are more straightforward and require less customer interaction, traditional e-commerce can be a more accessible and cost-effective option. Yet, it may not provide the same level of engagement as live shopping and competitors can win by hosting live events.
Ultimately, the choice between live shopping and traditional e-commerce will depend on a range of factors, but mostly none can win over the other because they can be combined perfectly and they go hand in hand to give your customers everything for them to have more informed, fun and immersive shopping experiences.
Comparing Live shopping vs. traditional e-commerce results in two distinct forms of online shopping, each with its own advantages and disadvantages. Live shopping provides a highly engaging and interactive shopping experience that can easily be a way to uplift any website with an easy integration. Businesses can make an informed decision that will help them to grow and succeed in the online marketplace once they know exactly what Live Shopping is about, if you want to know more, book a demo!
