New to video commerce and live streaming? Noticed a few different terms being bandied around? Video commerce, live stream commerce, live shopping. We have put together the ultimate jargon buster for you to navigate the world of live commerce.
Let’s start with the umbrella terms:
Key umbrella terms in video commerce
Conversational commerce is probably the broadest term in the sector. Conversational commerce is a type of commerce that is driven by conversation. This can include things like live chat, one to one shoppable video calls, and even social media. Conversational commerce is becoming increasingly popular because it allows brands to build relationships with customers and to provide personalized service.
Video commerce is a broad term that encompasses any type of commerce that involves the use of video. This can include things like product videos, tutorials, and live streams.
Shoppable video is a type of video that allows viewers to purchase products directly from the video. This is a key innovation in the sector and is what is driving growth in Live commerce as well as video commerce. This is typically executed by adding a “Buy” button to the video that viewers can click on to purchase the product.
The key point here is shoppable video can either be live or not live. Live commerce obviously focusses on the live element, but also can create assets that are recorded and used for marketing later.
Live commerce is a broader term that is sometimes used to describe the overall market for live video shopping. This market is growing rapidly, and it is expected to reach $250 billion by 2025.
A live stream is a general term that refers to any type of video that is streamed live over the internet. This can include live news broadcasts, sporting events, and concerts. So not necessarily about Shopping, more an umbrella term.
Let’s have a look at terms related to live element of shoppable video:
Live shopping, live video shopping and live stream shopping
The sector is new, its growing – so it means standardization in terminology has not yet settled down. So this next set of terms is likely to make you think, well, they are all the same: but there are subtle differences. Lets review:
Live shopping is a type of video commerce that involves watching a live video of a product being presented by an influencer or brand representative. Viewers can ask questions and interact with the presenter in real time.
Live Video Shopping
Live video shopping is a more specific term that refers to live shopping that takes place on a dedicated platform. This type of platform typically has features that make it easier for viewers to shop, such as the ability to add products to their cart and checkout directly from the live stream.
Live Stream Shopping
Live stream shopping is another term that is sometimes used interchangeably with live video shopping. However, it can also refer to live streams that are not specifically focused on shopping. For example, a brand might host a live stream to announce a new product or to give a behind-the-scenes tour of its headquarters.
Live Video Commerce
Live video commerce is a term that is used to describe the combination of live video and shoppable video. This type of commerce experience is the most immersive and engaging, and it is the most likely to drive sales.
One to one live video shopping
Now are are entering a key subset of live commerce – one to one live commerce and there are a separate set of terms to describe this area. One-to-one live video is about personalisation, creating an environment where a customer can interact with a brand ambassador directly. Let’s have a look at the one-to-one terms:
One to One Live Shopping
One-to-one live shopping is a type of live shopping in which a presenter broadcasts a live video to a single customer. This type of live shopping is often used by personal shoppers or stylists to help customers find the perfect outfit or product.
Shoppable Video Call
Shoppable video call is a type of video call that allows viewers to purchase products directly from the video. This is typically done by adding a “Buy” button to the video that viewers can click on to purchase the product.
Video chat is a type of conversation that takes place over video. This can be done through a dedicated video chat platform or through a social media platform that offers video chat features. Video chat often does not contain shoppable live video or has limited shoppable capabilities.
Video call is a more formal term for video chat. This is typically used to conduct business or to have a personal conversation with someone you know.
One to Many Live Shopping
One to many live shopping is a type of live shopping in which a presenter broadcasts a live video to a large audience. This type of live shopping is often used by brands to promote new products or to host Q&A sessions with customers.
Live-streaming shopping is a term that is used to emphasize the fact that live video shopping is a live event. This type of shopping experience can be more engaging for viewers because they can feel like they are part of a community and that they are getting a first-hand look at the products.
One Way Livestream Shopping
One way livestream shopping is a type of live shopping in which viewers can only watch the live stream, but they cannot interact with the presenter or ask questions. This type of live shopping is often used by brands to broadcast events or product launches.
Confer With is the market leading one to one live shopping platform. The platform focuses on providing the ultimate shoppable video call for personalised experiences. Get in touch if you’d like to discuss how live shopping can help your business!