Despite the incredible rise of ecommerce over the last few decades, physical stores that managed to adapt to the new paradigm have remained strong. The best businesses in the world understand that things are constantly evolving, and it’s crucial to move with the times.
One of the biggest developments in online commerce now is the introduction of live streaming, which has already blown up in China and is now spreading in the West. This is an exciting development for physical store owners, as it offers them the chance to enjoy a hybrid business model that combines online and physical sales.
Live Shopping Taking the World by Storm
It was only a matter of time before live streaming had an incredible impact on ecommerce, as the technology’s influence has been spreading over the last decade. The online casino industry highlighted its potential first, with live links to real-world dealer-led games. It proved so popular that now, when people play Betfair roulette online, they are faced with numerous options. There are various new ways to enjoy the casino classic as well, with themed versions like Age of the Gods Roulette.
After live streaming gained traction in entertainment, Facebook helped it spread to a much wider audience. It was at this point that many independent business owners realised the power of it for their shopping streams. This later led to huge companies adapting to the technology, with Chinese ecommerce giants like Alibaba jumping on it early. Live streaming is huge in ecommerce in China now, emerging as one of the most popular ways to shop.
Source: Pexels
Physical Stores Need to Adapt to This New Trend
The interest in live shopping streams is spreading throughout the West now, with customers enjoying various advantages with this trend. Along with giving people a chance to ask questions about products and buy directly from streams, it also fosters a greater level of trust in sellers. Shoppers can see that they are real people and this helps them to have greater faith in their products.
Unlike some evolutions in the ecommerce industry that physical stores were unable to adapt to, live streaming is something that real-world retailers can easily implement. Indeed, the technology will help to bridge the gap and give these people an easier way to blend their existing business models with ecommerce.
Various major retailers in the UK, including Boots, have already experimented with live streaming. It has emerged as an excellent way to launch new products or ranges, with streamers able to give viewers a walk around on the shop floor. The concept essentially allows people to try before they buy and see what they may want to purchase before they go out to the store. It means that physical stores can offer the convenience of ecommerce but still retain the magic of the real-world shopping experience.
Physical stores may not go as far as becoming live streaming studios, but there’s likely to be a huge shift towards integrating the technology for promotions. Some shops may decide to use it to run an ecommerce side to their business, allowing them to sell some products online and some in person.
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