How Video Commerce Is Reshaping the World of E-Commerce?
There is no doubt that e-commerce has revolutionized the changing behavior of customers. But, as we move into the next phase of the digital era, we are starting to see a shift from e-commerce to video commerce.
The emergence of video commerce during the past few years has wholly altered the e-commerce industry. When we say, “The world is moving to video commerce,” it means blending its physical and digital aspects.
Customers are using adequate technologies to make shopping more accessible and personalized. The lines are becoming hazy between the physical and digital worlds.
Similarly, how companies interact with their customers is also no longer linear. This blog will explore how the physical and digital world of commerce is coming together and how this is helping to reshape e-commerce to serve today’s world.
Deliver A Personalised Shopping Experience at Home
How is video commerce transforming e-commerce?
Video commerce is anticipated to play a significant role in boosting the growth of customer experience and sales. Here is how brands are being transformed by digitalization.
1# Video commerce Delight customers with Personalized Experience
By choosing video commerce, shoppers may develop a seamless approach with the best of both worlds. It aids offline retailers in providing a superior shopping experience to their customers by combining online shopping convenience with in-person interactions.
Video commerce lets you:
- Interact in Real-time with the buyer to make the journey seamless and convenient
- Give a Store-like experience from the comfort of their home
- Deliver Live Product demonstrations to enhance the customer experience
As per a McKinsey report, personalization leads to revenue growth of up to 15% more and increases marketing-spend efficiency by 30%.
By introducing live video commerce, you give the customer more freedom to make more tailored purchases with an in-store experience. It even offers users guided assistance for finding and interacting with a product and finishing their transaction simultaneously.
Such an easy and quick virtual shopping experience is all that a customer can ask for in their hectic schedule. This makes them stick to your brand and drives sales & revenue for you.
2# Increasing brand awareness and loyalty with video commerce
When customers can engage with your brand across multiple offline and online channels, it naturally increases your brand recognition and recalls among all other competitors. Because of the video platform, representatives can showcase the entire product range to the customer while addressing their queries and concerns in real time.
When customers feel listened to and understood, they are more likely to stay with you for longer. The flexibility to shape their shopping experience with video commerce boosts brand awareness and loyalty. It builds their trust in your business.
3# Video commerce has reshaped customers’ journey
This virtual shopping experience covers all stages of the customer journey from product discovery to purchase in a seamless way which was a challenge with traditional approaches. It helps structure the customer journey cycle like:
- Scheduling and offering live product demonstrations to engage with customers
- Enabling customers to make Digital payments through various platforms to facilitate quick payments
- Assisting customers post-purchase with service support, upgrade, and more.
This seamless process creates an interactive customer journey and contactless shopping experience. As it’s the most effective way to keep customers satisfied and loyal to your brand
Consistently offering this kind of approach is also proven to recall among customers.
Do you know digital payments for retail and e-commerce have increased by 260% wherein all businesses are embracing the new payment mechanism?
Deep Dive into the Video Commerce World
In a world where customers are very much active and increasingly want a personalized experience, video commerce retail is the way to go. It enables retailers to provide customers with an experience tailored to their needs.
The integration of these physical and digital channels can be done in ways such as
- Delivering a personalized shopping experience at home
- Letting your customers access the store anytime from anywhere
- Offering online and active customer service on behalf of your brand
And so much more is there!
To stay ahead of the competition, we are likely to see more people investing in video commerce. And as technology advances, we can expect the experience of video commerce to become even more immersive and futuristic.
How is Phygital changing the Retail Industry?
To Wrap Up
The world is moving towards video commerce in which digital and physical are fusing in a way that has never been seen before, leading to many changes in how we shop.
We are the first in India to create a video commerce platform for the top brands of the world. Get in touch with us at email@example.com or firstname.lastname@example.org to learn how your business can maximize its customer experience and boost revenue growth with phygital.