How luxury retail can leverage live streaming for consumer engagement

Luxury Daily – As live streaming becomes an increasingly popular practice in China, Western labels and retailers are catching on to the tactic as a means of driving real-time interactions with consumers.

Acting as a digital, influencer-driven version of home shopping television networks, live streaming enables brands to showcase products and stores through personalities. As more luxury shopping moves online, live video offers a way to connect the physical and the digital, enabling shoppers to get feedback and make more confident decisions.

“Live streaming in retail is essentially the intersection of QVC and HSN TV experiences with live events that are delivered via online and mobile devices,” said David Naumann, vice president of marketing at BRP, retail consulting firm.

“Many consumers have a desire to be the first to have the latest fashion or product, and this passion for immediate gratification makes live events and live streaming appealing for consumers and hence retailers,” he said. “Live streaming is real-time retail in spades.”

“Live streaming creates a sense of urgency that helps stimulate impulse buying, especially if the products are only available for a limited number of minutes or there is a countdown on the number of items available,” Mr. Naumann said. “The limited availability of products is a great way to enhance a brand’s exclusive image.

“For brands that are looking to create a buzz and increase the engagement of their customers, live streaming may be worth testing,” he said.

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