Reaching millennial and Gen Z shoppers is an imperative, albeit perhaps daunting, challenge for today’s retailers. This vibrant generation of content creators has incredible spending power. Gen Z, in fact, was predicted to become the most profitable generation of consumers yet.
So recognizing such an influential group is a must for businesses looking to remain competitive in a crowded market of online sellers. Connecting with the young, self-motivated, and creative generation might seem like an impossible feat for some brands—but it doesn’t have to.
Emerging technologies, like live selling, have created a unique and profitable channel for businesses looking to reach younger markets, create meaningful connections, and increase ROIs in the process.
Read on to learn more about how a strategic live video commerce and live selling strategy can help your business make a significant splash with the next wave of shoppers.
Shopper Expectation is Now Next-Level
Retailers today know the drill: selling online is a must, check-out needs to be seamless, delivery needs to be quick, and a multichannel sales strategy is one of the best ways to gain a competitive advantage.
However, these facets are just the beginning of the new bottom line that currently exists in e-commerce today for young consumers.
Seamless shopping is no longer a luxury—it is the expectation.
Driven by millennials and Gen Z shoppers, shopping online must reach beyond simplicity. It must be entertaining, interactive, and transformative. One of the best ways to do this is by adopting a strategic live video commerce strategy.
**Bonus**: New to Live Video Commerce? Here’s Everything You Need to Know.
Live selling has been leading the way in China since 2016 and has already become a standard process in 2022 (One Alibaba live sale alone brought in $75 billion in total transaction value in its first 30 minutes.)
The live video commerce market is projected to hit $65 billion in the U.S. by 2023 and will only continue to grow, with millennial and Gen-Z shoppers leading the way. The people have spoken and they simply prefer live video. (82% in fact.) And live stream shoppers have a repeat purchase rate over 6 times higher than traditional e-commerce shoppers.
When it comes to ensuring future success for your retail business—and capturing the attention of shoppers who prefer interactive and compelling content, live selling is a no-brainer.
How to Get Ahead and Stay Ahead with Live Video Commerce
As the leading e-commerce platform for personalized products and custom designs, and as one of Forbes magazine’s Best Employers of 2022, Shutterfly has made thoughtful steps while navigating the new age consumer.
According to the World Economic Forum, retail will be affected by technologies that create “tailored retail experiences at home and in-store.” With this in mind, Shutterfly has adopted live selling strategies that showcase its product, connect with its customers across platforms, and appeal to millennial and Gen Z shoppers specifically through vibrant live video.
The brand knew this strategic step in digital innovation would help create the trusted, customized experience their younger target market is looking for.
“Utilizing live selling as a new retail channel for home décor and gifting products gives Shutterfly an enormous opportunity to continue to digitally innovate and reach consumers in a new way, while expanding the brand’s reach beyond photo personalization,” said Lisa Stromer, VP of Strategic Partnerships. “We’re excited to see where this new and innovative retail channel can help take our brand, while also empowering small business retailers.”
**Bonus**: Want to See Live Video Commerce in Action? Learn How One Retailer Used Live Selling to Explode Business Growth.
Why Live Video Commerce for Younger Shoppers?
Live video commerce is an addictive retail strategy that blends traditional e-commerce with entertainment, customer engagement, and automatic checkout to create an exhilarating, immersive, and seamless shopping experience.
Today’s consumers are drowning in content. The question, then, is how to stand out.
- Live selling creates a real-time connection between brand and consumer and gives shoppers the answers they want right away.
- It lets shoppers trigger a purchase simply by clicking or commenting on a live stream—which expedites the checkout process and increases sales exponentially.
- It helps brands showcase their personality directly through their viewer’s newsfeeds—across multiple channels at once.
- It makes shopping feel special, intimate, and new. Live shopping done right is irresistible.
**Bonus**: Start Live Selling Today. Get the Go Live Guide
Live Video Commerce is the Future of Retail
Retailers today shouldn’t be overwhelmed when it comes to reaching new markets. The solution comes by acknowledging what greener shoppers want and giving it to them.
Live video commerce does just this. It allows brands to connect with shoppers in the medium they prefer, with the immediacy they demand, in an exciting and engaging format.
Not sure how to get started?
Fully-customizable solutions like Videeo exist to help businesses seamlessly integrate a successful live video commerce strategy into their existing tech stack.
Built by the creators of CommentSold, North America’s #1 live selling platform, Videeo offers a best-in-class, white-label solution for brands that want to stand apart and deliver interactive shopping experiences that attract emerging markets.
With Videeo, enterprises, small businesses, and independent sellers can use live video and shoppable video clips generated from live events to sell fashion, beauty, home goods, electronics, and other items. With easy bolt-on features that accommodate any existing tech infrastructure, getting started is simple.
Join the 4,000+ active retailers using Videeo’s live video commerce technology to reach younger markets today.
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