Live commerce and the future of shopping

This post is sponsored by Emplifi.

The Asia Pacific (APAC) retail industry has evolved significantly since the start of the pandemic; retail stores are being reimagined with the integration of online and offline experiences. COVID-19 has driven a surge in eCommerce, changing consumer expectations and the role of physical stores. In fact, 61% of APAC respondents are shopping online at least weekly, and three in five Singaporeans anticipate shopping online more in the future than they do today.

Retailers must reimagine business for the new age of retail; reaching customers online has become critical to remaining competitive. The future of retail is hybrid, and retailers need to identify new engagement opportunities that do not rely on a physical storefront.

Live video takes shopping to a new level 

Customers now look beyond the “expected” for an elevated experience – one that provides better service and a personalised touch. For the online shopper, buying online is convenient. In-store shoppers look for the experience and the physicality associated with it.

With the changing demands of consumers today, who look for both convenience and the experience, retailers must implement the right tools to create better experiences for every customer and make online shopping as engaging and experience-led as possible.

By fusing online retail with live-streaming, brands can bring consumers one step closer to the in-person store experience. Ecommerce tools such as live video create one-to-one and one-to-many options, allowing retailers to reach multiple online audiences.

Emplifi’s ShopStream is one tool which humanises the virtual retail experience while enabling brands to increase reach. With live video, customers can connect with their favourite retailers from the comfort of their own home by using features such as one-to-one video consultations to receive personalised advice and product recommendations. This creates a connection between the brand and consumer which then paves the way for purchases.

Another use of live video to enhance the customer experience is one-to-many live-streaming. Live-streaming enables retailers to reach large audiences without being limited by geography or the physical space.

Live-stream shopping has often been likened to the experience of shopping with friends, because customers can ask questions about products and get answers in real-time, chat to their friends, and enjoy what feels like an in-person experience from the comfort of their own home.

The combination of live-streaming with one-to-one live video engagements replicates the entire in-store journey, from window browsing to interacting with an individual product expert, providing a seamless and engaging online experience.

‘Dark stores’ to provide 24/7 capabilities

Due to the uptick of online shopping, retailers have shifted their focus away from the traditional brick-and-mortar storefronts and are opening “dark stores”. Dark stores are micro-fulfilment centres dedicated to rapid online order fulfilment, filled with aisles of products, and crews of shop assistants either picking and packing online orders, or chatting to video callers about the products they’re interested in.

These “stores” have the option to extend operating hours for shopper convenience and add in live video to convert shoppers who shop outside normal operating hours. This flexibility of operations also benefits the retailer as they can serve more than one geographic territory at once, supporting different languages, product lines, and time zones. The integration of live video within dark stores allows retailers to reach their full potential with the dark store.

Online grocery platform HappyFresh recently grew its dark store presence in the region to provide an easy and convenient shopping experience, with high quality and freshly hand-picked products brought right to the customer’s doorsteps.

Since its dark store launch, HappyFresh has reported a month-on-month 300% growth in users. To meet this growing demand, it is rolling out more facilities to increase its coverage area and offer greater accessibility. The store is also home to more than 15,000 stock-keeping units of fresh, dry, and frozen products, and it promises strong value-for-money to customers with no out-of-stock moments based on advanced demand-planning capabilities.

Using data to increase brand engagement and improve CX

Data is important for any business operating in modern society, and harnessing accurate data analysis can help leaders make more impactful decisions on how their business should spend its time and money. Retailers need metrics to track purchases, consumer behaviours and preferences, as well as for their own logistics to keep up to date on inventory.

The implementation of systems such as automated abandoned cart emails and digital ad conversion analytics measurement are useful for customer engagement/re-engagement. Up-to-date POS systems and software, such as tablets that allow retail associates to close a sale on the floor, foster more efficiency.

Dark stores and video-powered retail are just two examples of data-powered transformations that can help traditional retailers enjoy higher cost savings, and free up leaders to invest in the digital tools needed to thrive in the modern world.

Retailers need to be adaptable and take advantage of technological investments to cultivate brand loyalty. Ensuring each customer has a brilliant experience across every touch-point, whether physical or digital, will be vital for success in the future of retail.

Shopee’s regional marketing lead Pan Huiyan also believes that technology will be the way forward.

“We are deepening the use of data, AR, and AI technologies to help brands make their marketing more targeted and personalised. We are utilising AI to provide more personalised recommendations on live-stream content and deals based on user shopping behaviour and interests. Ultimately, the platforms and brands that know and serve their customers best will reap rewards in building deeper brand affinity and loyalty,” Huiyan said.

The writer is Varun Sharma, vice-president, APAC and Japan, Emplifi.