The Future of Online Shopping: How to Stay Ahead of the Game
I’m not anti-AI, and I believe it’s amazing. But I’m also a believer that the future of online shopping is not just about AI, but about creating meaningful connections with our audience. As someone who has been in the e-commerce space for over 10 years, I’ve seen many trends come and go. Here, I’ll share my insights on what I believe the future of online shopping looks like, how we got to this point, and some tips and tricks to help you stay ahead of the game.
The Biggest Opportunity for Online Shopping in 2025
I’m excited to share with you the biggest opportunity for online shopping in 2025: live commerce. Live commerce is a blend of livestreaming and e-commerce, where creators showcase their products live, explaining the features and benefits to their audience. If the audience likes what they see, they can instantly add it to their cart and purchase it. This format has generated $20 billion in revenue in 2022 and is projected to hit $55 billion by 2026.
The Psychology of Why it Works
Understanding why live commerce works is crucial to future-proofing your business. Live commerce is at the root of what makes us human – it’s not just about the product. It’s about creating a sense of FOMO (fear of missing out) and making people feel like they’re part of something exclusive. When you see others getting excited and making purchases, it’s hard not to think, "I need one too." This format taps into our desire for social proof and our need for instant gratification.
Who Are the Players?
TikTok is leading the charge, and creators have seen significant success using this format. But it’s not just about making money with products; TikTok’s gifting feature allows users to send virtual items to creators to show appreciation, adding another layer of engagement. Whatnot is another platform I’m watching, as it specializes in collectibles, fashion, and other niche products. What I love about Whatnot is how it connects passionate collectors with the products they love most, creating a sense of community.
3 Tips to Get Started with Live Commerce
If you’re new to live commerce, here are three tips to get you started:
- Promote Your Livestream in Advance: Treat your livestream like an event and promote it in advance. Share sneak peeks or teasers, and create a sense of urgency by offering exclusive deals or promotions.
- Leverage Live Q&A: Encourage your audience to ask questions and answer them genuinely and in detail. This is your chance to handle objections and clarify any concerns.
- Have a Clear Call to Action: Have a clear call to action (CTA) that tells your audience exactly what you want them to do, whether it’s buying a product, signing up, or staying connected.
My Two Cents
Live commerce is a fantastic opportunity to grow any business, but it’s not a magic formula. It’s essential to have a good product that people want, understand your audience, and know how to connect with them. Live commerce should be viewed as another tool in your tool belt, not the belt itself. Consistently engaging with your audience is key, and AI can’t replicate the human connection.
Conclusion
The future of online shopping is not just about AI; it’s about creating meaningful connections with our audience. Live commerce is a fantastic opportunity to grow any business, but it’s not a magic formula. It’s essential to have a good product, understand your audience, and know how to connect with them. By following the tips and tricks outlined above, you can stay ahead of the game and take advantage of this shift.
Frequently Asked Questions
Q: What is live commerce?
A: Live commerce is a blend of livestreaming and e-commerce, where creators showcase their products live, explaining the features and benefits to their audience.
Q: How does live commerce work?
A: Creators showcase their products live, and if the audience likes what they see, they can instantly add it to their cart and purchase it.
Q: What are some popular platforms for live commerce?
A: TikTok and Whatnot are two popular platforms for live commerce, with many others emerging.
Q: Why is live commerce so effective?
A: Live commerce taps into our desire for social proof and our need for instant gratification, creating a sense of FOMO and making people feel like they’re part of something exclusive.
