How can businesses ensure the best experience for live streams shopping?

Businesses are constantly seeking innovative ways to engage their audience and convert viewers into loyal customers. One important strategy is the integration of livestreaming with e-commerce, creating a dynamic shopping experience that brings products to life in real time. There is nothing better for clients than buying their favorite product instantly before it's sold out while watching a live stream. This is the experience live stream shoppers are looking for.

But how can businesses ensure that this integration results in a seamless and enjoyable shopping journey for viewers? 

In this article, we'll introduce live streaming, explore why it is popular in China, and the strategies that can help businesses provide a seamless shopping experience for viewers during product-focused livestreams.

What is live streaming?

In 2016, a big online store in China called Taobao (owned by Alibaba group) introduced a new way of shopping. They connected their online store with a live video broadcast, letting people watch and buy things at the same time. This created a new style of shopping called Live-streaming shopping. It mixes live videos, chatting with the seller, fun, and buying things right away. This idea became really popular in China and drew lots of shoppers because of how special and interesting it is.

Live Streaming in China refers to the practice of broadcasting real-time video content over the internet to an audience. It has become an incredibly popular and influential phenomenon in the country, with a wide range of applications and platforms. Live Streaming has gained significant traction in various industries, including entertainment, e-commerce, education, and more.

According to the data of Payexpert, in 2022, the recorded value of transactions amounted to RMB 3.5 trillion (approximately equivalent to €459 billion). Over the span of 2017 to 2021, China's e-commerce market exhibited transaction volumes of RMB 19.64 billion, RMB 135.41 billion, RMB 443.75 billion, RMB 1.285 trillion, and RMB 2.36151 trillion in consecutive years.

During 2022, the user count for live-streaming e-commerce soared to 473 million users, following user counts of 220 million, 250 million, 372 million, and 430 million from 2018 to 2021, respectively.

According to the research of McKinsey, live-streaming contributes to 10% of the total revenue generated by Chinese e-commerce.

How does live streaming work?

There are several live streaming platforms in China, with the most notable ones being platforms like Douyin (known as TikTok outside of China), Kuaishou, and Bilibili. These platforms provide users with the tools to create and broadcast their own live videos.

1.Content creation

Content creators, often referred to as "KOLs" (Key Opinion Leaders) or "wanghong" (internet celebrities), use smartphones or computers equipped with cameras to record themselves in real-time. They engage with their audience through live interactions, such as responding to comments, answering questions, and performing various activities.

2.Audience engagement

Live streaming in China involves a high level of audience engagement. Viewers can interact with the host by sending messages, virtual gifts, or emojis. These virtual gifts can be purchased using real money and are a way for viewers to show support for their favorite content creators.

3.Monetization

Live Streaming has become a significant source of income for many content creators in China. They can earn money through various means, including virtual gift sales, brand collaborations, and sponsorship deals. Platforms often take a percentage of the earnings generated by the content creators.

4.E-commerce Integration

One unique aspect of live streaming in China is its integration with e-commerce. Many live streaming sessions are focused on promoting and selling products. Content creators showcase products, discuss their features, and provide links for viewers to purchase directly within the livestream. This has led to the coining of the term "social commerce," where social interactions and shopping merge seamlessly.

Why is live streaming popular in China?

1.Interactive engagement and personal connection

Live Streaming provides a unique and direct form of interaction between content creators and their audiences. This personalized engagement fosters a sense of connection and authenticity that traditional media often lacks.

Viewers can leave comments, ask questions, and receive real-time responses from the livestreamer. This level of engagement creates a feeling of community and shared experience, making viewers more invested in the content and the personalities behind it. This personal connection is particularly appealing to the younger generation, who value authenticity and meaningful connections.

2.Entertainment

Live Streaming offers a wide variety of entertaining content, from music performances and dance routines to comedic sketches and gaming sessions. In a fast-paced society like China, where many people have busy lives, live streaming provides a convenient way to unwind and enjoy content that suits their interests. 

It offers an escape from daily routines and provides a source of entertainment that can be accessed anytime and anywhere. This entertainment factor is a significant driver of livestreaming's popularity, attracting viewers looking for leisure and enjoyment.

3.Social commerce and e-commerce integration

Live Streaming has revolutionized the way people shop in China through the concept of "social commerce." Many live streams are focused on promoting and selling products directly to viewers. Hosts showcase products, answer questions, and provide real-time demonstrations, creating a dynamic shopping experience. 

The interactivity of live streaming allows viewers to ask questions about products and receive immediate answers, simulating an in-person shopping consultation. This integration of shopping and entertainment has proven highly effective in driving sales and has created a symbiotic relationship between content creators, platforms, and brands.

How can European merchants win the favour of Chinese customers from live streaming?

1.Choose the right platform

Select a popular and reliable live streaming platform that is widely used in China. Each platform has its own user base and features, so choose the one that aligns with your target audience and products.

Silkpay helps European merchants profit from live streams by opening an account for them on popular Chinese live streaming platforms such as Weibo, Little Red Book, WeChat and so on. Thus, they can effectively connect with Chinese consumers. Silkpay's integration of seamless payment solutions within these platforms ensures a smooth shopping experience for viewers-turned-shoppers. With Silkpay's support, merchants can strategically choose the most suitable platform that aligns with their target audience and products.

2.Streamline payment process

Simplify the payment process by minimizing the number of steps required to complete a purchase. Implement a one-click or autofill payment option that stores users' payment details securely. This reduces friction and speeds up the checkout process, making it more convenient for viewers to make purchases.

Silkpay offers seamless integration with popular payment methods like Alipay and WeChat Pay. By integrating these widely used platforms, you can easily expand your online payment options and cater to a broader audience, especially those who prefer using these methods for transactions. This integration not only enhances user experience but also opens up new avenues for potential customers, boosting your business's reach and credibility. With Silkpay's support, you can effortlessly enable Alipay and WeChat Pay as payment options, allowing your customers to make purchases using their preferred methods without hassle.

3.Offer multiple payment methods:

Offer a variety of payment methods to cater to different viewer preferences. This includes credit/debit cards, e-wallets, and even localized payment options that are popular in your target markets. By providing multiple choices, you accommodate diverse customer needs and increase the likelihood of successful transactions.

Silkpay's payment solutions offer 30+ payment options, catering to different viewer preferences. This includes credit/debit cards, digital wallets (such as UnionPay, WeChat Pay and Alipay), and even localized payment options that are popular in your target markets. By providing multiple choices through Silkpay, you accommodate diverse customer needs and significantly increase the likelihood of successful transactions.

4.Provide real-time interaction and support

Integrate a live chat or messaging feature during the live stream where viewers can ask questions related to the product, pricing, or payment process. Assign trained support personnel to address inquiries promptly. Real-time interaction builds trust and reduces uncertainties, which can lead to a higher willingness to complete the payment.

5.Provide mobile-friendly design

Optimize the live streaming platform and payment process for mobile devices. With a significant portion of users accessing live streams from smartphones and tablets, it's essential to ensure that the payment interface is user-friendly, responsive, and easily navigable on smaller screens. A seamless mobile experience improves conversion rates.

In conclusion

Merging live streaming with e-commerce offers businesses a unique way to engage customers and drive sales. To ensure a seamless shopping experience during live streams, focus on simplicity, choice, real-time support, transparency, and mobile compatibility.

Livestreaming's popularity in China stems from interactive engagement, entertainment, and the innovative social commerce model. For European businesses targeting Chinese customers, optimizing the payment process, offering diverse payment methods, real-time interaction, clear pricing, and mobile-friendliness are essential for success in this dynamic space. These strategies create a compelling shopping journey that builds trust and loyalty among viewers.

Resource：

https://blog.payxpert.com/live-streaming-shopping-china-new-shopping-trend

About the author: Silkpay

Based in Paris, Silkpay provides omnichannel and secure payment solutions to help physical stores and e-commerce in Europe accept more than 30 of the world's most popular payment methods: Visa, Mastercard, CB, UnionPay, Alipay+, WeChat Pay as well as Asia-Pacific’s major e-wallets.

Silkpay is a winner of the LVMH Innovation Award. The company was also selected as a finalist for the "Money 20/20" Best Startup and in the "MPE Berlin” Startup Awards. Silkpay also won the "Best Fintech" awards from Capgemini and BPCE.

Silkpay helps merchants deliver the smoothest payment experience to their customers. We are a talented and international team driven by a single goal: to improve the customer experience and make payments simple and secure.