There’s no shortage of different ways to shop online these days—you can go to Amazon or other e-tailers and search for products, or go to your favorite brand’s website directly to browse or buy, you can follow influencers on social media, or combine some of these methods into research-here-purchase-there journeys. There’s also no shortage of buzzworthy trends and innovations, and now the trend of video shopping is making quite an impact.
In a world where terms like “live stream shopping,” “interactive e-commerce,” “video commerce,” “digital retail experiences,” “live video shopping” and “shoppable videos” are all too often flippantly thrown around with little explanation, a fundamental question remains: How does video shopping work—and how can your brand capitalize?
New insights from retail experience agency Stellar Global delve into the essence of video shopping, providing insight into the best practices that have yielded remarkable results, and uncover why it’s changing the game for brands.
Online shopping with a twist
The video shopping experience introduces consumers to a world of e-commerce that transcends the conventional, transforming the way they interact with products, brands, and experts online. Consumers have their own personal shopping assistant, a knowledgeable guide who knows the ins and outs of the brand they’re considering—but you let your digital assistant take the reins while you relax at home.
The process can take the form of a 1:1 video demonstration, where a dedicated expert provides tailored guidance to an individual customer, addressing their unique preferences and needs. Alternatively, it can involve live streams or broadcasts, connecting with a larger audience in real-time, leveraging the power of DTC or social media platforms to create interactive and engaging video shopping events.
The firm cites Ask Klarna as the perfect real world example. Ask Klarna is an online personal video shopping service that gives consumers immediate access to shopping experts through chat or video calls, seamlessly integrated into the Klarna app and Klarna.com. Klarna’s team of shopping experts help consumers find the perfect product across thousands of brands, answering any questions the user might have as well as providing personalized recommendations.
How to make video shopping work for your brand
Stellar Global has developed a unique formula that’s helping brands boost online sales. They’ve distilled these best practices into a set of guidelines that could work wonders for any brand.
A personal touch
The firm first recommends adopting a strategy centered on creating authentic human connections, which begins with the careful selection and training of product experts. They recommend that brands should handpick individuals who not only possess in-depth knowledge but also interpersonal skills to guide customers through their online shopping journey. These experts play a pivotal role in providing personalized assistance, answering questions, and offering tailored recommendations to ensure that customers make well-informed purchasing decisions. By putting the focus on building meaningful relationships with their customers, brands can transform their online shopping experience into a more engaging and customer-centric endeavor, ultimately leading to increased sales and customer loyalty.
The right technology
The importance of a virtual retail tool that facilitates seamless video and voice chat is pivotal. It’s the equivalent of the backstage crew of a theater performance, working flawlessly behind the scenes, unseen yet undeniably essential. This integration allows the video shopping experience to harmoniously meld with existing e-commerce solutions, ensuring that customers encounter high-quality video and audio with minimal latency. In a world where a single buffering hiccup can turn a delightful shopping spree into a frustrating ordeal, the absence of such issues is a game-changer.
Creating a unique branded space
Personalization is key, and creating a studio that seamlessly aligns with a brand’s identity and values is the firm’s recommendation. The idea is to create a backdrop that feels as if it was tailor-made to reflect a brand’s personality, whether it be a shop floor, showroom or back office. The studio becomes an extension of the brand itself, evoking a sense of familiarity and trust among customers, and this connection fosters lasting relationships and solidifies brand loyalty. This strategic step is instrumental in elevating the online shopping experiences, creating an environment for education, sales and content creation.
The results are in
Stellar Global has real-world results to back its methods up. Their data paints a vivid picture of the immense potential of video shopping, having found that 81 percent of customers now prioritize informed decisions and conduct research before venturing into physical stores. And that more than half of UK consumers favor retail brands providing personalized video chat demos for advice and product selection over those that don’t.
E-commerce conversion rates have been seen to skyrocket 20-fold, and shoppers are more eager to engage than ever, often resulting in a 70 percent increase in spending through video shopping experiences. This not only attracts new customers,but also fosters brand loyalty, with one in four customers returning following their experience, according to the firm.
“We’re on a mission to infuse some fun and personality into every consumer’s online shopping adventure,” said Monica Majumdar, virtual experience director at Stellar Global, in a news release. “It’s not just about selling stuff; it’s about building relationships and ensuring they’re thrilled with their purchase. The next time you hear about video shopping, you’ll know it’s not just another fad. It’s a game-changer for brands, and our best practices are the secret sauce that’s transforming the online shopping landscape, one video shopping cart at a time.”