Succeed between brands and consumers. All sectors win. Far from being a passing fad, it represents an unstoppable trend. It is called Live Shopping and it is the sale of live products through video transmissions both on social networks and on the website itself or e-commerce platform. On the one hand, consumers can buy products or services in real time and interact directly, generating greater identification with the brand. On the other hand, brands take advantage of a direct connection with their audience, bringing their online stores closer to the experience of buying in person.
The confinement due to Covid, the loss of influx to physical stores and the unstoppable digitization have created the perfect scenario for the success of Live Shopping. Consumers have changed their buying habits, and today they want the time from the moment they see something they like to the moment they buy it to be just an instant or happen as quickly as possible. That is the “magic” that makes possible this new channel of communication and e-commerce that has revolutionized everything. It is used by millions of consumers around the world and brands such as Luis Vuitton, Burberry, L’Oréal or Estée Lauder have also adopted it, very successfully, as a strategy. Although millennials and centennials are the kings of this new form of sales, it is also starting to catch on with an older audience.
According to a study by Fevad (the Federation of Electronic Commerce and Distance Sales in France), by 2026, Live Shopping will represent between 10% and 20% of global e-commerce. The report reveals that, in our country, 67% of Spaniards are already interested in this new way of buying. For many reasons.
First, you can say goodbye to the awkward crowds and crowds typical of shopping. Second, a Live Shopping is an opportunity to save, since brands usually offer discounts and exclusive offers specially designed for these events. Third, it will have happened to you that, when you buy online, sometimes you need the presence and opinion of a brand professional. Well, in these broadcasts, you will be able to find out about the characteristics and benefits of the products, appreciating details that go unnoticed on a digital website. In addition, thanks to the interactivity of the networks and new formats such as chat, it is an excellent way to resolve specific questions live and direct.
The “bonus track” puts it that many of these broadcasts are usually accompanied by the presence of an influencer from the sector, as a participant or prescriber, which makes them very viral and sought-after events in which you can hear, first-hand, the personal experience that the influencers have had with the brands and products of the event.
For brands, the advantages are no less. Live Shopping is flexible: it adapts perfectly to all types of products and services, especially those that are highly technical or require extensive explanations. It is also easy to set up and very economical, since the same mobile is used to broadcast live and many social networks such as Instagram, Facebook, TikTok or YouTube offer you all the necessary tools to connect with your audience. Another advantage: it manages to break with the classic coldness of the online medium, since Live Shopping means going from seeing simple images and texts to interacting in real time with a specialized flesh and blood seller.
To all these reasons is added that the number of potential customers skyrockets. Because? While the radius of influence of a physical store is finite, the audience of social networks or online is almost endless. In addition, Live Shopping coexists great with other actions and strategies such as discounts or promotional products. Finally, it allows you to measure the results at all times. Experts estimate that, in a shopping context, 82% of users prefer videos over posts. And also that, after viewing it, 64% increase their purchase intention. Be that as it may, Live Shopping allows you to perfectly measure the results obtained and, therefore, its effectiveness.
Cofidis, a financial institution specialized in granting consumer credit and project financing to individuals, has decided to join this trend and become the first financial institution in Spain to offer its products and services via streaming with Cofidis Live. The channel was inaugurated on May 23 with a cooking event that offered cheap, tasty and healthy recipes for the whole family from the influencer MarÃa Albero, known as @saboreanda.
The following events will be dedicated to home reforms, children’s education or Christmas savings. In this way, and throughout the year, several Live shopping will take place on different themes in which different influencers and financial advisors from Cofidis will participate. During the meeting, and in order for the company to offer financial advice while making Cofidis’ advantages and products known, real day-to-day situations will be created in which the public can see themselves reflected.
