“Streaming shopping”, the tool that multiplies online sales

The old statement that many repeated over and over again as if it were the number-one Bible commandment of shopping, “Shopping online is not the same as doing it personally”, is a thing of the past.

The pandemic simply changed the consumption habits of many and those who did not dare to put their password and credit card number on the computer, have begun to move to an electronic commerce that this year, according to estimated data from the Chamber of Electronic Commerce, forecast a growth of 19%.

But just as online shopping in Colombia increases, the way of selling also evolves and begins to move to Shoppertainment, a model in which sales multiply the conversion ratio by 4 times and can increase up to 300%.

Starting from live sales and exciting audiences through broadcasts that any user can access, it is possible to trigger an interaction from any device and strengthen genuine relationships between a brand and its customer to build loyalty. “Our experience with this online sales model has allowed us to know the products that work best, to have the most advanced technology and to advise on the suitability of the marketplace with large retail companies in Colombia and six other countries. Currently, the offer of online services is unlimited and this new way of selling allows customers to know in real time all the advantages that products have and, from the comfort of their home, to be able to compare prices and online stores. The results are obvious as this method quadruples sales of traditional e-commerce,” says Javier Molina, CEO of Fira Live, a Chilean-Spanish company, which came to the Colombian market to democratize online sales.

In 2020, two Chinese-born influencers made a continuous 12-hour broadcast on social media and managed to raise $3 billion. It wasn't exactly a telethon, but a sales campaign based on Singles Day. From that moment on, Streaming Shopping began to be seen as an opportunity to turn online sales around and generate faster, more dynamic and entertaining purchases, where the experience becomes more human and space is given to the possibility of offering discounts to run out of stock for certain lines of business.

According to Fira Live experts, companies such as Aliexpress and Alibaba's Taobao platform have implemented it with great success, offering discounts of up to 70% to their customers and increasing their interaction and profits to 5 thousand euros per minute respectively. Likewise, a company like Tommy Hilfiger has also managed to make a profit. In its first test in 2020, it sold 1,300 products in just two minutes. But the results have not only been seen abroad, in Colombia, the implementation of this tool has also brought good results. “With this dynamic, we have made Lives with more than 447,000 connected people and consolidated alliances with brands linked to the world of retail, beauty, technology and fashion, for example, in Colombia we have already worked with Grupo Éxito, Falabella, Pepe Ganga, Ktronix and Sódimac, among others,” adds Molina.

And the fact is that the magnitude of this tool, in the case of the big Asian one, gives good signs of what it could mean to continue implementing it in Latin American countries such as Colombia, since in 2020 alone there were 693 million users who were making purchases through this medium, representing 15% of worldwide sales. In this sense, considering the fact that Colombia during the pandemic was one of the largest online buyers in the region, among a list in which countries such as Argentina, Brazil, Chile and Mexico were also listed, it is possible to conclude that the implementation of these new forms of trade can continue to stimulate the economy and promoting online shopping, it all depends on which and how many people you want to reach.

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