Live Technology Could Be the Next Big Game-Changer for eCommerce

From Europe to North America, one of the most advanced deployment of live streaming in a customer-facing product is found at the live casino.

12:58 25 April 2024

People have been “going live” on social media through their phones or webcams for years, and way before that, customers would buy products through live television screens. Yet, a blending of the two onto modern platforms has yet to take off quite as expected in markets beyond Asia.

That might be about to change, but that change would hinge on the normalisation of the practice by businesses. Live-streaming technology is already being incorporated by a bunch of businesses and major brands in different ways. Some have made the tech a core feature of the offering; others have made events of going live to tap into the behavioural trends of online shoppers and followers.

So, to spark some ideas as to where any business could integrate live tech, it’s good to see how far the tech has been shown to go and the benefits it can bring.

The extent of live streaming for business

From Europe to North America, one of the most advanced deployment of live streaming in a customer-facing product is found at the live casino. As showcased at Jackpot City casino in its live casino section, these games stream a studio-played classic table game, big-screen slot, or game show. Through some additional bits of tech, such as OCR and a game control unit, that same game is seen, bet on, and won in real time.

It blurs the lines between physical and online casino play, creating a very two-way and interactive experience that maximises the potency of live streaming as a part of a product. It’s this interactivity, authenticity, and in-the-moment action that people gravitate to live technology to enjoy.

Fashion brands like Brandon Maxwell, Chanel, Marc Jacobs, and Mulberry have also tapped into live streaming to offer a way to authentically engage with fans. Events like those publicised by major brands have apparently made an impact. The audience remains relatively quaint, but 82 per cent of European and 78 per cent of American users, per McKinsey and Company figures, tried live commerce for the first time in 2022, with it seemingly gaining a bit of momentum coming into 2024.

Benefits of adopting live streaming for business

Live streaming can be deployed in several different ways to connect to customers and, ultimately, gain sales. Marketing is one avenue to take. It’s been reported by Business News Daily that sales can be boosted by 97 per cent when a live-streamed marketing event hits its target audience. This could take the form of a showcase for a new release, a demonstration of a range, or any other kind of informative yet promotional stream.

Similarly, webinars can boost engagement via a live stream. Hosting Q&As or sessions teaching people about products can prove to be very engaging, increase trust in the brand, and even sell some products. Regardless of what you plan to do in your livestream, the important thing to do is plan.

You need to promote the upcoming event, script how the stream will flow, make time for questions, answers, and surprise inclusions, and get all of the technology in place. High-quality lighting, camera, and audio are all necessary to tap into the full potential of a live stream. While people enjoy the authenticity, that shouldn’t come at the expense of your professionalism.

Live streaming has the capacity to connect commerce businesses to more customers and crucially, it’s still novel enough in Europe and North America for someone to crack the code and make an unprecedented success of the format.