MEDIA |
AUGUST 2022
LIVESTREAM SHOPPING FOR RETAIL JEWELERS
By Laryssa Wirstiuk
The COVID-19 pandemic forced nearly all retailers to reinvent sales strategies and cater to consumers’ shopping preferences and comfort levels. Stores have reopened, but many consumers now prefer the convenience of flexible shopping, whether they’re buying online and picking up in store, engaging in a virtual video consultation, or picking up at curb side.
WHAT IS LIVESTREAM SHOPPING?
Livestream shopping merges commerce with live video entertainment, enabling consumers to confidently buy without the traditional in-store experience. During a livestream shopping event, a host shares products and interacts with the audience in a live video format, usually through a social media platform like Instagram, Facebook, or YouTube. With livestreams, followers are able to watch the feed from wherever they choose. They can even interact and ask questions in real time and make purchases
BENEFITS OF LIVESTREAM SHOPPING
Providing opportunities for authentic connection, livestream shopping is changing the relationship between consumers and retailers. Livestream shopping can be entertaining, so it engages consumers and helps them feel an emotional connection. You can showcase the best of your in-store experience in a new way.
It also offers the convenience that consumers crave. No longer will they have to worry about sitting in traffic or finding someone to watch the kids. They can wear a comfortable outfit, pour their favorite beverage, and shop your inventory in a low-pressure, relaxed way.
The COVID-19 pandemic forced nearly all retailers to reinvent sales strategies and cater to consumers’ shopping preferences and comfort levels. Stores have reopened, but many consumers now prefer the convenience of flexible shopping, whether they’re buying online and picking up in store, engaging in a virtual video consultation, or picking up at curb side.
Park & Lex
Beaded gemstone necklace:
aquamarine, Iolite and gold
MSRP $675
917.714.8343
Livestream shopping can also help you tell and amplify your brand story, since you get to control the products, you feature and how you describe them. Finally, you can gain valuable feedback from the consumer; they’ll immediately let you know what they do or don’t like as well as if they’d like you to stock something new.
HOW TO GET STARTED
First, determine your goal for livestream shopping. Would you like to better engage your customers? Would you like to educate them? Would you like to sell more of a specific product category? Would you like to spotlight underselling products? Not only will you need a clear goal, but you’ll also need a direct call to action. Know your target audience and what you’d like to share beforehand.
Jyes International
Tahitian black pearl and
diamond stud earrings
MSRP $2,700
415.621.8880
In addition, you’ll want to brainstorm interesting topics, like those related to styling advice; product launches; product education; special in-store events and promotions; and behind the scenes. You’ll want to choose a relatable, charismatic, dynamic host as well as the right location, somewhere free of background noise with good lighting and a non-distracting background. Finally, determine your key performance indicators, the data that will let you know whether or not you’re on track to achieve your goals.
Martha Seely
18k gold with multi-color
gemstones & diamonds
MSRP $2,585
617.899.2162
TIPS FOR SUCCESS
Experiment with a regular schedule and stick to that schedule to create consistency. Definitely promote the livestream in advance of the event. Unless you’ve built an established audience, your followers will need to be primed for your new offering. Choose products that translate well on camera, so you’ll probably want to avoid dainty pieces with very fine details. Tell a story about the products and demonstrate both passion and enthusiasm. Try to incorporate some interactive elements – like quizzes, polls, giveaways, and Q&As – to build and encourage engagement.
Hosting your first livestream shopping event may push you out of your comfort zone, but it will ultimately show customers that you’re committed to innovation and interested in having an authentic, two-way connection.
