Introduction

Coresight Research will hold its third annual 10.10 Shopping Festival on October 10, 2022, in partnership with livestream shopping platform MARKET.live by Verb Technology Company (VERB), video shopping SaaS provider Bambuser and influencer commerce company Nillio. 

In this report, we explore strategies that can help brands and retailers enhance livestreaming capabilities and attract more customers during the 10.10 Shopping Festival. 

One Week Until the 10.10 Shopping Festival 2022: 10 Best Practices for Livestreaming

We present 10 key strategies that brands and retailers should adopt to successfully launch and operate in the livestreaming e-commerce space. We summarize these strategies in Figure 1 and explore each in detail below. 

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Figure 1. Preparing for the 10.10 Shopping Festival: 10 Best Practices for Livestreaming

 

1. Promote Livestream Shopping Events

Companies must, of course, promote their live shopping events, and social media is a key marketing channel even if the shopping event is not taking place on a social media platform. Social media marketing is essential to create awareness and get participants to join. One approach is to leverage a countdown clock on Instagram or Facebook to maximize consumer anticipation before the event. After the event, brand and retailers can seek to stay fresh in the audience’s mind by replaying compelling and still-relevant content.

We suggest that brands and retailers create engaging, eye-catching and theme-focused posters to resonate with consumers.  

 

2. Do a Test Run Before Launching an Official Livestream

Brands and retailers should test out equipment, camera angles, volume and background noise. In addition, adjusting the set-up for the host’s natural speaking volume and speed in advance will make them feel more comfortable during the livestream.

We suggest brands and retailers watch demos of our partner platforms’ livestreaming capabilities in order to understand the technology resources they provide. Debugging equipment is also a helpful step to take to ensure have smooth livestreaming sessions on October 10.

3. Plan and Develop Interesting Content

Developing interesting content for livestreams, including storylines and scripts can ensure a successful livestream.

Last year’s 10.10 Shopping Festival streams were inspiring, funny and tearjerking as many hosts shared interesting brand stories and exciting products. The team from goodMRKT took a creative approach and auctioned off a jacket during a livestream. Beauty brands such as DefineMe Fragrances, Elizabeth Arden and Skin Authority livestreamed content through the festival’s supporting platforms, offering product recommendations, beauty bundle discounts and gift sets. Several retailers also held live demonstrations of selected products, answering questions raised by viewers in real time.

4. Present Exclusive Deals, Tips and Tricks

Given the backdrop of inflation, it is important that brands and retailers offer exclusive deals or compelling offers that customers will not find from a regular e-commerce experience to help them shop at affordable prices. Brands and retailers should offer discounts to provide customers with value-oriented products in this inflationary environment. This can also promote brand loyalty. 

We also recommend that brands and retailers structure livestreaming sessions with exclusive tips. For example, some possibilities are to present beauty or apparel styling sessions with live requests from the audience or tutorials to help consumers learn more about using or wearing products.

 

5. Choose Products That Look Great on Camera

Sellers should consider products that are highly visible on screen when selecting their product mix. For example, sellers can choose products with colorful and eye-catching designs that appear better on screen than plain black. 

For example, for the 10.10 Shopping Festival in 2021, Naytra Couture, a handcrafted organic silk apparel accessories brand, chose to feature nine colorful products with unique prints, including the “Bird of a Thousand Eyes” scarf, the Maya off-the-shoulder blouse and the fitted Tejasvi tunic. 

 

6. Use Hosts and Guests Who Are Passionate About the Product

Influencers can increase viewership because of their large number of social media followers, but brands can also tap into their employees, sales staff and even loyal customers who know the products well and are passionate. 

 

7. Repeat Important Information

It is useful to repeat important information, such as whether hero products are on sale or what discounts and limited-time sales are offered, during livestreaming. This reinforces information to viewers and ensures they are available of what’s available for them to take advantage of. It will also help viewers joining after the start of the livestream to be get up to speed with what the session is featuring.

8. Engage Viewers Actively and Directly

Continuing to engage with viewers can help turn them into new customers. For example, using comments to discuss viewers’ questions or concerns, answering questions in a timely manner, and organizing activities such as lotteries to select lucky viewers for special promotions or small gifts are all ways to keep viewers excited about the livestream.

9. After Livestreaming, Follow Up with Viewers Who Messaged or Commented

Brands and retailers need to make sure that viewers know they can comment in the video or send direct messages through Messenger or a group chat even after the livestream. Interaction after the livestreaming sessions offers viewers a channel to express their needs and communicate with brand experts for product suggestions.

10. Set Up a Regular Event Schedule

Continuing to offer livestreaming experiences after the 10.10 Shopping Festival can help to strengthen connections with consumers. Whether a brand or retailer is new to livestreaming or experienced with the channel, we recommend setting up a schedule of regular live events on a weekly or monthly basis on with varying products, formats and target audiences to nurture consumers’ shopping habits. The 10.10 Shopping Festival may be annual but livestreaming sessions can be much more frequent. They should take place regularly in order to engage consumers, increase loyalty and keep brands and retailers relevant. 

What We Think

Livestreaming e-commerce enables brands and retailers to connect with customers in a more meaningful way than simply through e-commerce websites. This direct engagement is valuable in cementing customer loyalty.

People who are passionate about the brand, such as in-store associates or micro influencers, can make effective livestream hosts, as they can communicate genuine enthusiasm to the audience. The livestream shopping format combines the best of online and offline shopping, as it enables both product discovery and an emotional connection.

Live shoppers will not make a purchase based on how well a product description was scripted. Instead, conversion is influenced by emotions in the moment. Livestreaming hosts must reinforce the product’s value proposition and engage with viewers as well as entertain them to drive sales.

How Can I Find Out More or Take Part in the 10.10 Shopping Festival?

Companies and charities interested in participating or requiring more information can contact the 10.10 team via 1010Festival@coresight.com or through the official website. 

Leading up to the event, Coresight Research will publish a series of reports that provide a detailed view of the 10.10 Shopping Festival and regular updates. Keep up to date on coresight.com.