Live shopping is an innovative way for retailers in New Zealand to keep up with the times and offer an innovative approach to brand exposure.
This phenomenon is essentially online shopping in real-time, allowing retailers to feature and showcase their products through a live video feed and giving customers the chance to order, ask questions, and receive feedback on the spot. It’s the ultimate shopping experience, with all the convenience of online shopping but with the added excitement of real-time interaction.
In the highly competitive e-commerce landscape live shopping provides a unique opportunity for retailers to stand out by interacting with customers on a more personal and relatable level. Traditional retail channels saw a large shift following the Covid-19 pandemic. With the accelerating growth of online shopping, live shopping has become an essential tool for retailers to implement innovation, encourage sales and increase brand exposure.
Although the trend is relatively new in New Zealand, it is gaining momentum, and some smaller retailers have already begun embracing live shopping on social media platforms including Instagram and Facebook with promising results. Retailers are already starting to see the potential advantages of live shopping implementation, such as increased brand engagement, higher conversion rates, and enhanced customer loyalty. According to a recent report by McKinsey & Company, live shopping has the potential to transform the retail industry, with estimates indicating that it could become a $300 billion market by 2025.
