Beating Inflation with Live Shopping

Kathrin Gering
March 28, 2023
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Power through the turbulent market with Social Commerce

How can brands and retailers thrive even with high inflation? Social and interactive Shopping like shoppable videos, shoppable stories and live shopping event are the tools your brand needs to implement to stay afloat and thrive. 

In the face of economic downturns and inflation, retailers and brands must prioritize nurturing strong customer relationships to weather the storm successfully. Rather than reducing efforts, businesses must focus on delivering value to customers without driving them away with soaring prices. One such solution that has gained tremendous traction is live shopping - the cutting-edge fusion of social commerce and live streaming.

With engagement rates soaring as high as 90% and conversion rates reaching up to 37%, social commerce emerges as the ideal strategy for effective customer retention and loyalty initiatives, proving to be a game-changer for both retailers and brands.

The Most Robust & Resilient Marketing Strategy your Brand Needs

  • Show Customer Care & Loyalty
    Social and interactive shopping provides brands and retailers with an opportunity to demonstrate their customer-centric approach. Through real-time interaction, live stream shopping fosters a sense of community, enhancing customer loyalty and trust. Brands can leverage live selling platforms like LiSA to engage with customers, addressing their concerns and making them feel valued.
  • Educate:
    Social and interactive shopping serves as an effective educational tool, helping customers make informed decisions. By offering detailed product information and demonstrations, businesses can showcase their commitment to providing valuable insights to customers. Shoppable video platforms like LiSA empower brands to deliver compelling educational content that aids in making the best possible choices.
  • Entertain:
    Social and interactive shopping formats like for example Live shopping injects fun and excitement into the shopping experience for both customers and brands. Engaging live video streaming sessions featuring product demonstrations, Q&A sessions, and special guests create an immersive and entertaining atmosphere. LiSA is a great option to help brands create live shopping events on their native site and benefit from a seamless path-to-purchase. Maximise the revenue and engagement of your live shopping events with quizzes, polls, exclusive deals and promotions to heighten the sense of anticipation and enjoyment.
  • Connect:
    Livestream Shopping allows customers to interact with their brands and other customers in real-time, which can create a sense of community and connection. This social aspect of livestream shopping can be especially valuable during times of isolation and social distancing.
  • Build Trust
    Social and interactive videos allow businesses to showcase their products authentically in real-time, reinforcing credibility and authenticity. Imagine being able to see products in action and hear real people sharing their thoughts right from the comfort of your own home. Livestream Shopping brings products to life in a live setting, making it easier to trust and believe in what you're buying. No more static images and boring descriptions!
  • Increase Organic Growth and Lower CAC
    Livestream Shopping isn't just about cool live demos; it's also a game-changer for brands looking to grow organically while saving on customer acquisition costs (CAC). How? By tapping into the power of social sharing, user-generated content, influencer magic, and pocket-friendly advertising.
    When you host a livestream shopping event, you create a vibrant community, where attendees share experiences and discover new products together. It's like a domino effect, where each click, share, and enthusiastic shout-out leads to more customers coming your way. By leveraging these smart mechanisms, you can welcome new customers with open arms without draining your marketing budget. The best part? These happy customers stick around, forming a loyal fanbase that keeps on growing over time.

Live and Social Commerce is a powerful tool for these special economic times

Uncertain times call for increased trust in brands, and this is where the power of live and social commerce shines. Through these video shopping platforms like LiSA, businesses can instill a sense of urgency, foster engagement, and offer personalized shopping experiences that resonate with customers even during economic uncertainties.

Unleashing the potential of live streaming apps, live video streaming, and shoppable videos, live and social shopping offers a lifeline to businesses seeking to adapt to changing market dynamics. As the global economy navigates through turbulent times, just get in touch with LiSA’s video commerce experts, and we’ll help you choose the right social shopping format to give you the highest ROI. All this is possible in the next 24 hours, so if you’re ready to achieve breakthrough revenue records, connect with us now.

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