The Smart Lab: The Benefits of Live Shopping Events
Emmanuel Raheb lists four reasons to host one, starting with live shopping lets small jewelry stores compete with larger companies.
Remember all those home shopping channels where the host promotes an item live on TV and encourages you to buy? Of course you do.
Even after decades, channels such as HSN (formerly known as the Home Shopping Network, which has been around since the early 1980s) and QVC, which also launched in the ‘80s, are still going strong.
Live shopping, more accurately known today as live-stream shopping, is the next evolution of this remarkable marketing method and it’s now happening on Facebook, Instagram, TikTok and even directly on websites. It brings the convenience of shopping from home into modern times.
The signature benefit of live shopping is that the special offer remains only valid during the promotion period on the stream. This creates not only a sense of urgency with the audience, but a sense of excitement. If marketed correctly, live shopping can become an event in and of itself.
With live shopping, people can ask questions, leave comments, and even call in to speak with you.
Jewelry sales are made in real time and once the stream is over, the deal has expired. It’s interactive and fun.
The live shopping business model has proven extremely popular in China and other parts of Asia, with some companies making live shopping their entire business.
These companies have no physical stores, and some don’t even hold physical inventory. Their whole approach is to sell direct to their audience through live shopping.
Here are some of the top benefits of adding live shopping to your digital marketing strategy.
1. It provides an engaging experience. It lets smaller jewelry stores compete against much larger companies, big fashion brands, and other online-only or traditional "brick-and-mortar" businesses.
2. It can quickly generate jewelry sales. Live shopping gives the jeweler the ability to quickly clear slow-moving inventory and overstock, while giving the customer a great deal. Everyone loves a special offer when there’s limited supply.
3. Live shopping builds your jewelry store’s brand awareness, as it becomes another reason for people to pay attention to your store.
People love live events because they’re unscripted and you never know what’s going to happen. Combine this with a great deal shown only to your live shopping viewers and you have huge potential.
There’s no better or faster way to build your jewelry store’s brand than to be in front of your audience for 30 to 60 minutes or more. It reinforces your value as a local, trusted jeweler and they’ll remember you.
4. It’s the antidote to COVID shutdowns. With the pandemic still raging and waves of closures happening, a live shopping event can’t be canceled by COVID.
Selling through live shopping is something a staff of one or two people can do safely in your store and it’s a great alternative to selling in-person.
Remember: Although homebound, many customers still have money to spend and are looking to “reward themselves” with something nice. Live shopping gives you a chance to reach this captive audience and sell your jewelry.
People like to do business with companies they like, know, and trust. A live shopping event welcomes people into your jewelry store and they can get to know you while you learn more about them. How powerful is that?
Of course, people will still shop through your website; it’s expected.
But how many jewelry store owners do you know who host live shopping events? The answer is, not many. Live shopping is the perfect way for you to differentiate yourself from every other jeweler in town.
Live shopping is still in its infancy and not everyone knows about it or has the dedication to make it a priority. If you need any help setting up your live shopping event, contact us. We’re here to help you succeed.
By starting early, you can get a jump over your competition and make your jewelry business soar.
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