In the dynamic landscape of online shopping, there’s no shortage of buzzworthy trends and innovations. Among the latest and most captivating phenomena, video shopping has been making quite the 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: What, precisely, is video shopping?
The retail experts at Stellar Global delve into the essence of video shopping, provide 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
Imagine providing consumers with their own personal shopping assistant. A knowledgeable guide who knows the ins and outs of the brand, but there’s a twist. Customers don’t need to be physically navigating the aisles of a traditional brick-and-mortar shop; rather, they can be comfortably seated in their home, while their trusted digital companion takes the reins.
This 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. It’s like having a personal shopper at their beck and call, providing real-time insights, product recommendations and a friendly chat – all while they’re relaxing at home.
Video shopping 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.
Stellar Global cites ‘Ask Klarna’ as the perfect real world example. Ask Klarna is an online personal video shopping service that grants 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:
1. A Personal Touch
Stellar Global first recommends adopting a strategy centered on creating authentic human connections, which begins with the careful selection and training of product experts. 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. Stellar Global explains that 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.
2. The Technology
The importance of a virtual retail tool that facilitates seamless video and voice chat is pivotal. Stellar Global likens the seamless integration of a virtual retail tool to 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.
3. Creating a Unique Branded Experience
Stellar Global believes that personalisation is key, they recommend creating a studio that seamlessly aligns with a brand’s identity and values. 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, 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.
Stellar Global has real-world results to back its methods up. Their data paints a vivid picture of the immense potential of video shopping. They have found that 81% of customers now prioritize informed decisions, conducting 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.
Stellar Global has also seen that e-commerce conversion rates have skyrocketed an astonishing 21-fold with brands they work with, and that shoppers are more eager to invest than ever, as evidenced by a remarkable 70% increase in spending through video shopping experiences. What’s more, Stellar Global found it not only attracts new customers but also fosters brand loyalty, with one-in-four customers returning following their video shopping.
Monica Majumdar from Stellar Global commented on their deep dive into video shopping, “We’re on a mission to infuse some fun and personality into every consumer’s online shopping adventure. 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.”