The future of shopping is now; Coresight has identified live shopping as one of the most influential global commerce trends of this year, showing no signs of slowing, and this year's 10.10 Shopping Festival is centred around this phenomenon.
Coresight Research will host its second annual 10.10 Shopping Festival on October 10th from 10am to 10pm ET in partnership with livestream shopping platforms, CommentSold and Smartzer, and 1:1 live video co-shopping platform, GhostRetail! The Smartzer platform will be used by global brands to kickstart their shoppable live stream journeys, and to accelerate US consumer adoption of the format that has become a global phenomenon over the past few years.
Deborah Weinswig, CEO and Founder of Coresight Research, said, “Livestream shopping has grown from a zero to a $300 billion industry in China in a very short period of time. We are very confident that the US market will reach what we are seeing in China, and the 10.10 Shopping Festival will enable retailers and brands to test and learn and grow this commerce segment. Compared to 2020, Coresight Research estimates that livestreaming e-commerce penetration in the US will more than triple by 2023, representing huge growth potential.”
The inspiration behind the festival this year is accelerating US consumer adoption of livestreaming. Livestream platforms boast superior consumer engagement and significantly reduced return rates versus ecommerce generally, providing retailers with significant opportunities for enhanced ROI, CTR & conversions. According to a Coresight Research survey, 39.7% of consumers shop in livestreams for an exclusive deal, 38.2% to discover new products, 36.6% to learn more about new products, and lastly 30.7% because the buying is exciting.
“We are incredibly excited to be part of the 10.10 event, giving brands and retailers access to Smartzer's live shopping technology,” stated Karoline Gross, Founder and CEO of Smartzer. “We are very interested to see how different brands and retailers in the US will approach shoppable livestream content throughout the event, following the huge success of the format in China—where nearly 15% of all online sales now come from live shopping. Results from live shopping in other markets are already showing engagement rates of up to 75%, strongly suggesting that this format will become core to e-commerce.”
Retailers such as Macy's, Guess, Vera Langley, Neighborhood Goods and many others are taking part in the event, that will be spearheading the adoption of livestream shopping as a mainstream form of commerce in the US. Technologies like Smartzer are enabling the future of shopping to be accessible to many brands of different sizes; unlocking additional revenue and making video content work harder.
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The Luxury Retailer Used Smartzer's Interactive Video Platform to Create a Stunning Campaign Video for the Hottest AW21 Drops From Top Brands.
With Autumn upon us, Brown Thomas used the beauty of shoppable video to direct customers towards fresh, on-trend luxury styles for the new season. The luxury retailer has used Smartzer's interactive video platform plenty of times in the past, demonstrating exactly why brands should learn from their shoppable examples.
EXECUTION
The immersive campaign video follows a variety of models across the coast and countryside wearing the sleekest pieces from top designer brands. Viewers could click the video to bring up shoppable popups with multiple products featured in the models look. The customer could then click through to the product page to 'Shop Now'. The shoppable, browsable side carousel allows viewers to scroll through all the featured products without pausing the video. This content quickly introduces the viewer to new items and pushes them quickly down the path to purchase via direct links.
RESULTS
Brown Thomas used video interactivity to create a video that resulted in the following features:
Interactive video overlay with clickable product hotspots
Group popup with look images and links to all of the featured products
Shoppable side carousel with all of the featured looks
CTA image cue to notify the viewer that the video is shoppable
Replay screen with shoppable carousel to give the viewer a final chance to buy
Seamless landing page integration matching the style and font of the Brown Thomas website
CONCLUSION
Using an interactive video on an Ecommerce landing page can elevate the customers shopping experience. The direct links to products makes it easy to discover new items and add them straight to the bag. The dynamic, 360 degree format of video means that the viewer can see the pieces in action to get a clear view of how they may look in real life. As a result, interactive video content can give customers the confidence to buy.
For the AW21 season, Brown Thomas has released some inspiring shoppable video content for menswear.
The luxury, Irish retailer used Smartzer's interactive video platform to promote their key pieces for the Autumn/Winter menswear launch. The dynamic and immersive, interactive content adds life to the landing page leading to a memorable shopping experience.
EXECUTION
By using shoppable video, viewers could buy the latest pieces from brands like Alexander McQueen, Prada, Givenchy, Gucci and more. The video featured clickable hotspots that brought up product information in a group popup. Customers visiting the landing page could click the 'SHOP NOW' call to action to be taken directly to the product display page to buy. The group popup feature enabled viewers to buy every item from the model's look. Smartzer's interactive video platform allowed Brown Thomas to transform standard video into an engaging and compelling piece of content marketing for Ecommerce.
RESULTS
By using shoppable video technology, Brown Thomas's 'Forces of Nature' collection video resulted in the following features:
Clickable overlay with group popups featuring multiple products
The ability to shop the look through links to product display pages
'Shop Now' and 'Click the Look to Explore' calls to action
Browsable side carousel with all the featured looks
Replay screen with all the featured products
Seamless landing page integration
CONCLUSION
Using shoppable video on landing pages can make the site experience much more engaging and interesting. The informative product popups direct viewers to their favourite pieces, shortening the path to purchase. Brown Thomas is no stranger to Smartzer's interactive video platform as they demonstrate how to use smooth moving, 90 second videos to optimise the shoppable content.