47.6% of consumers would purchase through live video shopping if the event were broadcast on their preferred social media platform.

WASHINGTON, WASHINGTON, UNITED STATES, September 20, 2023/EINPresswire.com/ -- GoodFirms, a universally renowned B2B ratings and reviews platform, recently released its new research report-"Livestream Ecommerce: Market and Future Scope." The research unveils the current trends in the live-streaming ecommerce market. The survey has also attempted to gather user perception, challenges, the latest key trends, and future scope regarding the adoption of the livestream shopping format.

GoodFirms reveals that around 56.2% of surveyed businesses have experienced increased sales using live-streaming ecommerce, and about 43.8% of surveyed enterprises are already in the initial stages of implementing live-streaming ecommerce for their businesses.

The research discloses the different formats of live streaming: product launches, behind-the-scenes live video, interviews and Q&A Sessions, influencer marketing, one-on-one or one-to-many where the brands can leverage it to perform live-streaming that are suitable for their products.

Research also highlights the benefits of live streaming Ecommerce for Sellers: around 75% believe in increased sales, 75% say increased customer engagement, 68.8% think increased brand awareness, 43% find higher conversion rates, 43.8% assume enhanced customer services, and 37.5% consider instant analytics.

"About 66.7% got the opportunity to get exclusive deals, 52.4% increased transparency, 42.9% easy to order option, 42.9% experienced store-like feeling, 38.1% felt better one-to-one interaction, 23.8% mentioned more informative and engaging using live streaming ecommerce," GoodFirms Research.

Choosing the right platform, content creation, timezone management, technological, promotional, copyright, communication barrier, stock management, and integration of payment gateways are a few challenges sellers face using live-streaming ecommerce.

GoodFirms research unveils technical glitches, disruption in internet connection, lack of adequate interaction, missing details on shipping and estimated delivery, limited buying options, and problems while making payments as challenges for buyers using live streaming ecommerce.

The survey analyzes the current trends in live streaming ecommerce including Q&A sessions, streaming on multiple social media platforms, one-to-one shopping, virtual reality shopping, and influencer collaboration.

The various sectors like healthcare, engineering, and finance might see the emergence of live-streaming ecommerce. With this, there may be a rise of micro and nano influencers, integration with metaverse, higher importance to user data security, and use of generative AI to overcome potential challenges, strategizing efficiently to upscale their sales - GoodFirms Concludes.

Key Findings:

--Livestream shopping is a marketing strategy to sell goods online in real time with interactive sessions.
--The global live-streaming Ecommerce market size was valued at USD 1350.687 billion in 2021.
--90% of consumers believe that businesses must respond immediately to customer service queries, which should be within 10 minutes.
--According to Statista, the metaverse e-commerce market is expected to account for USD 201.8 billion by 2030.

About Research:

GoodFirms Survey- "Livestream Ecommerce: Market and Future Scope" queried 671 businesses from various industries to analyze and reveal the benefits of implementing live shopping, the challenges faced while incorporating it in their campaign, and the industry trends.

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About GoodFirms:

GoodFirms is a Washington, D.C. -based B2B review and rating platform that focuses on delivering rich, original, and in-depth coverage of IT products and services to the readers. The company works with a mission to serve the B2B players. Both service seekers and service providers benefit from the reviews, ratings, and research insights delivered by GoodFirms.

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