From the first introduction of video shopping software to modern connected video commerce, the industry is far from showing signs of slowing down. In fact, Forbes estimate that in 2022, livestream shopping will reach over $400 billion in revenue in China alone.
But how did this evolution of video shopping software come about, and whereabouts do you fit into this multi-billion dollar industry?
Early Stage: Video Shopping Software
Appointments were made either via manual request or by setting up a booking system where customers could self-serve. Super prevalent during lockdowns, this format utilised retail talent to keep up relationships with customers and provide them with the personalisation usually experienced in a store. Direct sales were likely not tracked, and an element of preplanning was required to keep customers engaged.
Pros:
- Quick and easy to set up
- More people are confident using familiar software (Zoom, Teams, WhatsApp)
Cons:
- No selling tools
- No data tracking
- Sales Assistants have to rely on physical products in-store
- If working from home, there is little to no visual merchandise
- The customer has to install the software themselves
Development: Live Engagement Video Shopping Software
Live engagement video commerce involves widgets popping up and aiding in the customer experience. This appears on a product or collection page, in the same way, a chat window pops up at key points in the customer journey.
The advantage of this video shopping approach is that the same personalised experience can be given instantly at key points in the customer’s journey, and typically, sales can also be tracked.
The customer no longer needs to rely on installing software; the live video is part of the website experience. The personalisation of video shopping is limited by the number of products available to retail experts, and customers often fall back into a self-service on a website to discover new products and complete their purchases.
Pros:
- More native experience
- Can be initiated at touchpoints
- Offers walk-in appointments, good for increase in website traffic
- Calls can be tracked
- The customer doesn’t have to install software
Cons:
- No selling tools
- Sales Assistants have to rely on physical products in-store
- If working from home, there is little to no visual merchandise
- No product immersion
- Unable to personalise the experience inside the call
Presently: Connected Video Commerce
The step up from live engagement video is connected video commerce. Here, the video call connects directly with the eCommerce engine. It makes every product inside the video shoppable, in addition to the retail expert having access to the entire eCommerce inventory.
This new immersive video shopping experience allows the call to flow more freely, as well as continuously address and meet the customer’s needs, and personalise their shopping experience to a whole new level.
Connected video commerce additionally combines the power of appointment booking systems to unify the entire customer call in one experience. The management of ongoing customer relationships is particularly vital when handling high-consideration items that require time, patience and understanding. Therefore, coupling video commerce engagement with appointment booking systems allows retailers to leverage the personalisation power of CRM.
Pros:
- Connects to your eCommerce engine, giving access to the entire product inventory
- Sales Assistants can support sales with tools such as Alternatives and Add Ons to increase basket size
- Offers live reporting
- The customer doesn’t have to install software
- Can be initiated at touchpoints
- Scalable technology enables teams to offer the same shopfloor experience at home or in a contact centre
Cons:
- New technology requires staff training
- Customers more unfamiliar with connected commerce
What Connected Video Commerce Looks Like
Unlock the Potential with Live Video Shopping
5 Tips to Maximise Customer Engagement
Using Zoom for Retail Appointments? Read this article!
