Let's Discuss the Strugglemotherf*cker, Shall We?
- TikTok Live is the MVP when it comes to consumer engagement, outshining QVC and HSN. The data comes from a survey of almost 1,000 Americans. Second on the podium is Facebook Live, followed closely by Instagram Live.
- The younger crews, Gen Z in particular, are glued to live shopping shows. Roughly 15% of these digital natives tune in once a week.
Live TikTok stream remains dominant venue for online shopping experiences
Only a paltry 50% of consumers watching live shopping shows are coughing up dough according to a report by Savings.com. Yep, around 60% of Yanks watch live shopping, but only 1 out of 3 are actually spending that money.
Insights, Man:
Live shopping might be getting love from both the old-school cats, like QVC, and the newbies, but it's not connecting with everyone. Nearly three-quarters of customers simply ignore or scarcely watch it.
Could it be a trust issue? Over 75% of shoppers think live shopping encourages impulse buying and excessive spending. On top of that, almost 60% view the hosts as more entertaining than trustworthy.
The majority who don't buy from live shopping shows admit a dependable platform or well-known brand would build trust in the shopping experience. They also want exclusive deals, better product quality, and a smoother checkout process.
Live shopping is nothing new with TV programs like QVC and HSN. However, modernized live social shopping options are shaking things up. QVC Group, for instance, is jumping on the TikTok bandwagon, streaming 'round the clock.
Brands Shiftin' Strategies:
QVC ain't no slouch either. They recently announced a strategy flip-flop, aiming to be recognised as a live social shopping company. Early last month, they even planned to stream themselves on TikTok all day long.
Remember, this ain't your mama's shopping anymore. Shoppers are influenced by peer reviews, social proof, and FOMO. They crave interactions with sellers, easy-peasy checkout, and laidback security measures.
References:
- Chaffey, D., & Ellis-Chadwick, F. (2019). Digital marketing strategy, implementation and control: text and references – 5th edition. Routledge.
- Kalra, T., Adamson, R., & Magnani, N. M. (2019). Social commerce: From concept to commercialization. Journal of interactive marketing.
- Tsiros, N., Botsis, C., & Geng, Y. (2014). A mobile commerce study: An asynchronous social network perspective. Journal of Interactive Marketing.
- Eze, O. N., & Toppis, C. (2018). Consumer behavior in mobile commerce: A systematic literature review. Journal of Business Research, 89, 72-82.
- Tripathi, A., & Banerjee, A. (2016). The impact of social cues on consumer decision making: An empirical study of mobile shopping. Business Research in Contemporary Complex Systems.
- AI-powered chatbots could play a significant role in establishing trust with shoppers during live shopping shows, providing viewers with personalized recommendations and addressing concerns about excessive spending.
- As technology advances, lifestyle platforms incorporating social media, entertainment, and shopping could evolve into a single seamless experience, attracting even more consumers and driving engagement.
- Brands might consider implementing AI-driven personalization strategies, alongside exclusive deals and a smoother checkout process, in their live shopping strategies to appeal to the tech-savvy shoppers of today, particularly Gen Z.
