According to Statista, there are 2.14 billion people worldwide who buy products and services online. However, only 2.17% of businesses successfully convert their traffic into leads and purchases. Global e-Commerce sales will reach a whopping $5.3 trillion by 2022.
Research highlights that e-Commerce accounts for 18% of all retail sales, meaning businesses need to focus on innovative approaches, such as using live shopping software to engage their customers and generate higher returns on investments (ROIs). Read on!
What is Live Shopping?
Live shopping is an advanced, cutting-edge approach that allows e-Commerce businesses to advertise their products and perform live interactions with their online audience. You can directly interact with your customers through live
videos, chat, and other features. Unlike traditional eCommerce shopping tools, live shopping reduces the manipulation of imagery, allowing your audience or customers to trust your brand more.
Benefits of using Live Shopping for your Shopify Store
Core Sight reports that live shopping generated over $60 billion in sales for e-Commerce businesses in 2019. Likewise, Businesses in the U.S made $1 billion through live shopping. There are many benefits of live shopping for your Shopify store.
For instance, you can develop interpersonal relationships with your existing and prospective customers by allowing them to immerse themselves in Livestream shopping. Not only does live shopping engages your audience, but it also leads to increased trust.
That way, you can build stronger relationships with your audience and customers, leading to increased engagement, entertainment, streamlined shopping, and sales. So, using a live shopping tool can take your Shopify store by storm and result in higher ROIs.
How Do You Use Live shopping?
There are two ways to use live shopping for your e-Commerce business. The first one is starting Livestream selling by launching a new business, and the second one is incorporating Livestream tools into your existing e-Commerce website.
Make sure you focus on your prospective and existing customers’ interests when customizing your live shopping strategy and getting the most out of it. Although you can use a smartphone to Livestream and interact with customers, it is wise to invest in a premium tool and integrate it into your e-Commerce website or Shopify store to streamline your business operations and generate higher ROIs.
There are numerous platforms, software, and apps that offer live shopping technology. Make sure you choose the one that aligns with your business goals and meets your audiences’ expectations.
How Much Does Live Shopping Software Cost?
Many e-Commerce businesses build their own software programs and apps with customization features for better audience engagement and shopping experience. If you want to create your own software, it will cost between $63,000 and $180,000. Remember, the cost of building your app or software depends on various factors, such as features, project complexity, desktop version, iOS, and
Android version, etc.
On the other hand, you can use an alternative option by purchasing third-party software on a monthly or yearly basis. Although each software available on the market has a different price, you can expect to pay an average amount between $50 and $500 per month, depending on the software brand and the number of features you want to use for live shopping.
What is the Best Live Shopping Software?
There are dozens of live shopping software available on the market. However, not all of them are reliable and affordable for eCommerce businesses. That’s why we have come up with a list of the most popular live shopping software that you can use for your online store. Keep reading!
Live Scale is one of the most popular living shopping software for eCommerce businesses, offer multi dimensional services and customization features to
engage prospective and existing customers. The platform also supports and mentors businesses via live webinars, group discussions, and one-on-one interaction.
The most notable features of this cloud-based software are brand customization, market testing, real-time analytics, and event management. Live Scale offers a 30 day free trial for new eCommerce businesses. However, the premium version costs $490 per month.
BeLive is another live shopping solution for eCommerce businesses that want to attract more customers and give them streamlined and engaging live shopping experiences. The biggest benefit of this software is easy integration in your website or app, allowing you to:
- Drive traffic
- Engage customers
- Generate leads
- Lead conversion
- Higher ROIs
The most notable features of BeLive Technology are interactive live video, including live trivia and live polling. There are three packages: basic, standard, and Pro. The basic one comes with limited features and is free to use. However, we recommend going for the Standard or Pro package if you want to use this software. The Standard and Pro Package costs $300 and $450 per month, respectively.
Bambuser is another live shopping platform or software that offers a wide range of features, such as live streaming, live chat, multi-platform player SDKs and APIs that you can use to create advanced workflows, Floating Action Button(FAB) previews, Event spotlight modules, Audio descriptions, Share from Pre-Screen, and numerous social options. The platform offers three packages:
- BambuserStarter ($599 per month)
- BambuserLite
- BambuserStandard
Bear in mind that the price for the other two packages depends on different factors, such as the number of broadcast hours per month and the number of viewers. Overall, it is an excellent platform with numerous customization features.
Final Words
Live shopping is all about streamlined consumers’ experiences through sophisticated engagement strategies and products promotion tactics. Not only does live shopping offer added consumer value and empower the customer through Livestream content, but it also leads to higher ROIs. There are numerous free and premium live shopping software programs and platforms. Make sure you
choose the one that best fits your need and comes within your budget.
