The retail industry has undergone some big changes in recent years thanks to emerging technology. Smartphone apps with virtual reality and changing rooms that use augmented reality have opened up new ways of shopping. Perhaps the biggest change is yet to come, as live-streaming promises to add some interesting benefits for retailers and shoppers alike.
A Look at Live-Streaming in Entertainment
To understand how live-streaming adds entertainment value to the retail world, we can look at some of the ways it’s already being used in other industries. Sports are among the areas most enhanced by live streaming, as there are now many services that beam live games and events to their users across the planet. Theater, comedy, and music are among the other classic types of entertainment that have added live transmissions.
To consider the impact this tech could have in retail, we could look at the example of sectors such as the online casino arena and its live roulette table games. In this context, the introduction of human dealers streamed in a studio setting has added a whole new layer to these games, and versions such as Live Speed Roulette and Live Instant Roulette have popped up. This has led to the industry growing as new players are drawn to the idea of experiencing roulette live on their screens.
How Does Live-Streaming Work in Retail?
We can expect this technology to be used in different ways in each geographical market, as retailers adapt it to local tastes and shopping habits. To get an idea of the impact it might make, we can take a look at the Chinese market. China has welcomed live retail streams with open arms, as it generated more than $150 billion in 2022.
It’s been positioned as the meeting point between shopping and social media. Shoppers can join a stream using any internet-connected device, with the broadcaster using a selection of HD cameras to deliver a high-quality presentation. Popular influencers and TV personalities present the items, attempting to entertain viewers and help them decide what to buy. Shoppers can ask questions and get instant answers from the presenter, while social media is used to increase viewer engagement rates.
What Happens Next?
AliExpress is one of the leading e-commerce brands looking to increase its live-streaming presence in other parts of the world. The retail giant is taking this series to the UK with its ‘Choice service’, which is designed to make international purchases easier and smoother to carry out.
In the US, TikTok has been credited with boosting live-streamed e-commerce numbers as the platform made $7 million in gross merchandise in the span of a single day. Striking the balance between entertainment and advertising has been the main challenge in Western markets where this type of service hasn’t yet become part of the mainstream retail experience.
We can expect to hear a lot more about this technology in the future. For consumers, the fact that they just need a smartphone to connect is a huge benefit, while retailers are likely to see that the possible advantages far outweigh the cost of getting started.
