It’s showtime! How live commerce is transforming the shopping experience
Blending entertainment with instant purchasing, live commerce offers retailers, brands, and digital platforms a new channel with enormous scope for creating value.
How does live commerce create value?
Live commerce can help brands, retailers, and marketplaces primarily in two areas:...
How does live commerce create value?
Live commerce can help brands, retailers, and marketplaces primarily in two areas:...
Blending entertainment with instant purchasing, live commerce offers retailers, brands, and digital platforms a new channel with enormous scope for creating value.
How does live commerce create value?
Live commerce can help brands, retailers, and marketplaces primarily in two areas:
Accelerating conversion. Live commerce is entertaining and immersive, keeping viewers watching longer. It also telescopes customer decision journeys from awareness to purchase. Time-limited tactics such as one-off coupons can be used to generate a sense of urgency. Companies report conversion rates approaching 30 percent—up to ten times higher than in conventional e-commerce.
Improving brand appeal and differentiation. Done well, live commerce increases a brand’s appeal and distinctiveness and pulls in additional web traffic. It can strengthen positioning among existing customers and attract new ones, especially young people keen on innovative shopping formats and experiences. Some companies are seeing their share of younger audiences increase by up to 20 percent.
https://www.mckinsey.com/business-functions/mckinsey-digital/our-insights/its-showtime-how-live-commerce-is-transforming-the-shopping-experience #livecommerce #web3commerce
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How does live commerce create value?
Live commerce can help brands, retailers, and marketplaces primarily in two areas:
Accelerating conversion. Live commerce is entertaining and immersive, keeping viewers watching longer. It also telescopes customer decision journeys from awareness to purchase. Time-limited tactics such as one-off coupons can be used to generate a sense of urgency. Companies report conversion rates approaching 30 percent—up to ten times higher than in conventional e-commerce.
Improving brand appeal and differentiation. Done well, live commerce increases a brand’s appeal and distinctiveness and pulls in additional web traffic. It can strengthen positioning among existing customers and attract new ones, especially young people keen on innovative shopping formats and experiences. Some companies are seeing their share of younger audiences increase by up to 20 percent.
https://www.mckinsey.com/business-functions/mckinsey-digital/our-insights/its-showtime-how-live-commerce-is-transforming-the-shopping-experience #livecommerce #web3commerce
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