According to a report by ReadWrite, Live Shopping is becoming a powerful tool in the arsenal of direct-to-consumer (D2C) and e-commerce brands in Germany, revolutionizing how they connect with their customers and drive sales. This innovative approach combines the convenience of online shopping with the interactive and engaging experience of real-time video streaming, creating a dynamic platform for brands to showcase their products and engage directly with their audience.
According to a report by ReadWrite, Live Shopping is becoming a powerful tool in the arsenal of direct-to-consumer (D2C) and e-commerce brands in Germany, revolutionizing how they connect with their customers and drive sales. This innovative approach combines the convenience of online shopping with the interactive and engaging experience of real-time video streaming, creating a dynamic platform for brands to showcase their products and engage directly with their audience.
Live Shopping helps increase sales, build brand awareness, and find new customers. It also enables brands to create a sense of urgency and exclusivity by offering limited time promotions, flash sales, or exclusive discounts during live shows. This incentivizes buyers to make immediate purchases, driving sales and increasing revenue.
The German e-commerce market is worth €83.3 billion, beating the average growth rate of 11.3% over the past three years. This is projected to rise to more than €141 billion in 2024. With such promising numbers in e-commerce sales and online customer shopping, Germany should be on the list of priorities to consider for market expansion.
Live Shopping is becoming increasingly popular in Germany, with the use of shopping apps growing by almost 50 percent last year. About 70 percent of Live Shopping shows currently occur on brands’ and retailers’ websites.
In addition to boosting sales, Live Shopping also helps brands gather valuable customer insights and feedback. Through live interactions with shoppers, brands can understand their preferences, pain points, and shopping behaviors, allowing them to tailor their offerings and marketing strategies accordingly. This direct line of communication with the audience enables brands to build a loyal customer base and foster long-term relationships.
Live Shopping is becoming a game-changer as the digital landscape continues to evolve. Brands are experiencing increased customer engagement, sales, and stronger buyer relationships. By 2025, the global Live Commerce market share is expected to increase significantly.
As such, brands should start experimenting with Live Shopping and embrace this in 2023 to capitalize on the growth of the Ecommerce industry.
Sources: https://readwrite.com/how-live-shopping-is-empowering-d2c-e-commerce-brands-in-germany/
