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Live Video Shopping and the Future of Online Retail

Post author By Komal Gaikwad
Post date 25 Jan 2024
No Comments on Live Video Shopping and the Future of Online Retail

In today’s busy world, your customers aren’t always able to visit your local shop or store.A lot of them still like the ease of shopping from home. Recent projections indicate that nearly a quarter of global sales will be conducted electronically by 2023. This shift emphasizes the importance of bringing the in-store experience online, making it crucial for businesses to explore innovative avenues.

What is Live Video Shopping?

Live video shopping reshape the digital connection between customers and e-commerce stores in real-time. This conversational commerce technology allows customers to seamlessly witness and purchase products during a live interaction, providing a dynamic and engaging shopping experience.

Why Video Shopping Matters?

Increased Sales Potential:

Incorporating live video shopping enables brands to sell products with a personalized touch, mimicking the in-store experience. This approach significantly boosts sales and average order value. For instance, fashion brands can showcase clothing items, answer queries in real-time, and create a more intimate connection with customers.

Improved Engagement:

Video shopping fosters customer, brand, and agent engagement. The personalized and convenient nature of video interactions creates an online environment that resonates with customers, resulting in a 400% increase in video chat sessions for some businesses.

Convenience and Personalization:

Providing a convenient and bespoke approach, on-demand video shopping allows brands to tailor the digital customer experience to individual needs. This approach ensures seamless interactions without the need for downloads or third-party software.

Versatility in Agent Deployment:

A robust video shopping solution allows businesses to deploy both in-store associates and desktop-based agents, offering a multi-faceted approach to online customer communication. This flexibility ensures around-the-clock availability and the ability to cater to diverse customer needs.

Video Marketing Integration:

Video shopping becomes a powerful marketing tool, enhancing customer engagement and serving as a word-of-mouth marketing strategy. As 86% of businesses utilize online video for marketing, incorporating video interactions becomes the next frontier in customer communication.

Real-World Examples:

Duroflex, a leading mattress brand, transforms the shopping experience by incorporating real-time video interactions on their website. This innovative approach allows customers to explore mattresses, ask questions, and engage in live chats with agents. The interactive platform provides a unique opportunity for customers to get a hands-on feel for the product while actively participating in the decision-making process. Binary, Ecommerce Experts have played a pivotal role in implementing this feature on Duroflex’s website, enhancing customer engagement and driving sales.

The Takeaway:

Ready to transform your e-commerce experience? Discover the magic of live video shopping with Ecommerce Experts. Book a demo today and witness firsthand how video chat can elevate your customer engagement, increase sales, and leave a lasting positive impression.

Social Media: Your New Sales Channel

Ecommerce

Post author By Komal Gaikwad
Post date 03 Nov 2023
No Comments on Social Media: Your New Sales Channel

Social mеdia has еvolvеd from a space for social intеraction into a robust markеtplacе for businеssеs. If you’rе pondеring ovеr how to intеgratе Social Mеdia Sеlling into your еcommеrcе stratеgy, this comprеhеnsivе guidе is for you. Rеad on to discovеr kеy stеps to еlеvatе your onlinе salеs through social mеdia.

Undеrstanding Your Buyеrs is thе First Stеp

Bеforе diving into thе world of social mеdia sеlling, it’s еssеntial to know who you’rе sеlling to. Arе your potеntial customеrs young adults who arе tеch-savvy, or arе thеy oldеr individuals who prеfеr straightforward purchasеs? Understanding your targеt audiеncе’s agе, intеrеsts, and onlinе behaviour will help you tailor your social mеdia stratеgiеs morе еffеctivеly.

Sеlеct thе Right Social Mеdia Platforms

Choosing the right platform can make or brеak your social media sеlling strategy. Instagram and Facеbook arе pеrfеct for consumеr goods thanks to their visual-cеntric approach. LinkеdIn, on the other hand, is bеnеficial for B2B salеs—Makе surе to pick thе platform that aligns with both your product offеrings and your targеt audiеncе.

Contеnt Rеlеvancе Cannot Bе Ovеrlookеd

The content you share on social media should sеrvе a purpose: to attract and еngagе your targеt audiеncе. Each post should rеsonatе with your potential customers and providе valuе, whеthеr it’s a product showcasе, a usеr tеstimonial, or hеlpful tips rеlatеd to your offеrings. Aim to balancе promotional posts with valuе-addеd content.

Invеst in High-Quality Visuals

In еcommеrcе, first imprеssions oftеn hingе on visuals. Usе high-rеsolution imagеs and clеar, wеll-producеd vidеos to showcasе your products. Quality visuals not only еnhancе thе product prеsеntation but also instil a sеnsе of profеssionalism and crеdibility in your brand.

Utilizе Platform-Spеcific Fеaturеs for Enhancеd Engagеmеnt

Social mеdia platforms offer an array of fеaturеs likе storiеs, livе vidеos, and polls that can spicе up your еngagеmеnt stratеgy. Usе Instagram Storiеs for timе-limitеd promotions, or run polls on Facеbook to gathеr consumеr opinions. Thеsе fеaturеs allow you to interact with your audiеncе in divеrsе and еngaging ways.

Audiеncе Engagеmеnt is a Two-Way Strееt

Don’t just post content and forgеt about it. Activеly еngagе with your audiеncе by rеsponding to commеnts, answеring quеstions, and acknowlеdging fееdback. Consistеnt intеraction builds rеlationships and fostеrs a sеnsе of community around your brand, thеrеby еncouraging rеpеat purchasеs.

Consistеncy Forms thе Backbonе

Maintaining a consistent posting schеdulе is as important as thе contеnt itsеlf. An еrratic posting schеdulе can confusе your audiеncе and rеducе your visibility on thе platform. Consistеncy еxtеnds to thе tonе, stylе, and quality of your posts, contributing to a unifiеd brand imagе.

Kееp Tabs on Pеrformancе Mеtrics

Last but not least, rеgularly monitor kеy pеrformancе indicators likе еngagеmеnt ratе, click-through ratе, and convеrsion ratе. This data can offer valuable insights into what’s working and what nееds improvеmеnt. Twеaking your stratеgy basеd on thеsе mеtrics can significantly еnhancе your sеlling pеrformancе on social mеdia.

Wrapping Up

Social Mеdia Sеlling isn’t mеrеly an optional strategy; it’s becoming a vital componеnt of successful еcommеrcе. By sеlеcting thе appropriatе platforms, crafting mеaningful content, and nurturing audiеncе еngagеmеnt, you can significantly boost your onlinе salеs.

Flipkart to shut down Ebay India

Ecommerce

Post author By binadmin
Post date 24 Aug 2018
No Comments on Flipkart to shut down Ebay India

Ebay.in was one of the first ecommerce giants of the country. It was launched back in 2004. However, it couldn’t hit off the roof with the coming of Amazon and Flipkart; life will come a full circle when Ebay.in closes operations on August 14.

With Walmart’s biggest ever $16 Billion investment for 77% stakes in Indian giants Flipkart in May, minor shareholders like Naspers and eBay have sold their holdings in the company and the announcements are a way to move ahead. eBay had acquired 5.44% ownership of Flipkart back in April 2007 after a cash investment of $500 million and selling Ebay.in. Flipkart had acquired $1.4 billion from eBay, Tencent and Microsoft.

With Walmart’s acquisition bringing a fresh infusion of $1.1 billion, eBay plan to launch a new platform which will focus on cross-border trade. They’ll not be in direct competition with Walmart and Flipkart but Amazon who also do cross-border trading with Amazon Global Products Marketplace.

Meanwhile, Flipkart will be launching its new platform for refurbished goods to replace eBay. Flipkart CEO Kalyan Krishnamurthy conveyed the same to all the employeesin an email.

“Based on our learnings at eBay.in, we have built a brand-new value platform launching with refurbished goods – a large market which is predominantly unorganised. As part of this launch, we will be stopping all customer transactions on eBay.in on 14 August, 2018 and transitioning to the new platform,”

“We will keep evolving and bringing newer formats, categories and features which cater to the needs of our value-conscious middle India. The new platform has a different value proposition compared to Flipkart and will cater to a different target audience. We are committed to investing in this independent brand,” he pointed out.

New investments have also opened up doors for Flipkart who are facing stern competition from Amazon in the e-commerce sector. Spreading into an unorganised furbished goods sector is a bold move which could bring unexpected results. Despite facing curbs from the government who are proposing a bill to mandate the e-commerce industry, investments are pouring in for Flipkart and Amazon who have emerged as the leading players in the modern retail sector and marketplace.

Reliance Retail gears up to face Amazon and Flipkart

Ecommerce

Post author By binadmin
Post date 24 Aug 2018
No Comments on Reliance Retail gears up to face Amazon and Flipkart

Reliance Retail, who have recently step into the online sales of smartphones and electronic appliances such as refrigerators, air conditioners, and televisions with the launch of their new online platform. Smart phones and electronics sales which account for 55 to 60 % of the business in e-commerce have been dominated by Amazon and Flipkart. Reliance Digital plans to rival them using their offline store and smaller Jio stores as fulfilment centres for the online orders and.Reliance Retail has now an incredible reach across more than 5,200 towns and cities, with 8,533 stores.

“The commercial operation has just been launched across India. While this is an omnichannel expansion of Reliance Digital, there will be a dedicated focus on making the online operation successful,” an industry executive was quoted as saying by The Economic Times.Reliance has identified four key pillars to achieve its expansion plans and that includes — augmenting geographical reach, innovating newer store concepts and channels, enhancing customer experience and leveraging technology.

Recently, Reliance Retail reported an over three-fold jump in pre-tax profit of Rs 1,069 crore for the first-quarter ended 30 June, 2018. Revenue from RIL’s organised retail segment during last quarter grew over two-fold to Rs 25,890 crore as against Rs 11,571 crore from the last quarter.

It became the first Indian company to enter the world’s top 200 retail chains to cross $10 billion in sales and rapidly continues to expand in new cities.

In late March, it was reported that Reliance Retail were aiming to raise Rs 4,000 crore via a rights issue to fund their expansion plans. The move is widely seen as the company’s attempt to beat competition from global giants Amazon and Walmart. While a fund raise would help them offer deep discounts and expand their online services, how Amazon and Flipkart cope up with a major emerging competitor would be worthwhile to see.