Live streaming may generate changes in the retail industry. The merging of video and retail is becoming more and more popular, especially among generations that grew up with the internet. In retail strategy, live selling has been extensively adopted to boost sales and foster client loyalty. Additionally, live selling provides you with the following 7 advantages.
- Create a personal relationship with your customers: Live selling provides a huge platform for interaction with customers so that you may learn about their expectations. People are more likely to believe you when you receive feedback and act upon it right away, so you can continue to raise the bar and perform better. And this encourages you to consistently outperform client expectations, building a strong, consumer-friendly brand with a following of devoted patrons.
- Lower your return rates: Although online shopping has massive benefits to eCommerce websites, it has also brought many problems for them. The biggest challenge among that is the product return and refund policy. Every eCommerce marketplace out there knows the headaches of product returns and refunds. However, the business suffers a significant loss in shipment and reputation when a product is returned. Live shoppers are 40% less likely than other online consumers to return a purchase, according to Coresight research. Thus Live selling reduces the impact of returns and refunds!
- Major shops are in favor of live selling. As opposed to those who have partnered with well-known social media platforms like Walmart, TikTok, Sephora, and Facebook, others have created their own live streaming platforms. However, using your own live selling platform is the key to increasing income and return on investment. Check out the live streaming service stream biz to launch your live selling venture. Get additional information and a live demo from BSEtec.