IOT
“ The ability to engage in real time with product experts , influencers and other shoppers provides a valueadded , entertaining , and trustworthy way to discover and purchase products ”
KUNAL PURI , VICE PRESIDENT AND HEAD OF CUSTOMER SUCCESS , INFOSYS EQUINOX
and , this year , livestreaming is expected to generate 20 % of all retail purchases .”
According to reports from Forrester Research , 59 % of European consumers are interested in liveshopping , and early retail adopters are reporting conversion rates up to 30 % – 10 times higher than conventional online shopping .
“ The ability to engage in real time with product experts , influencers and other shoppers provides a value-added , entertaining and trustworthy way to both discover and purchase products ,” Puri asserts .
These benefits can be extended further by businesses if they invest in adding a livestreaming platform to their e-commerce website or mobile app . This is because , while social platforms are a great initial way of experimenting with live commerce , they possess a number of limitations .
“ For example , Instagram only allows up to 30 featured products per stream . Third-party platforms can ’ t seamlessly integrate with customer accounts , wish lists , personalisation engines , loyalty programmes and other features of your online store – aside from click-to-buy buttons . And , in many cases , streaming platforms take a cut of your sale .”
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