LiveStream Commerce made its place in the Magento Innovations Lab!
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We did it again! Another Magento Live Innovations nomination for our latest innovation
In the streak of winning awards and recognitions, here’s to add one more feather to the crown. The consistent hard work amid hard times and the spirit to never stop being amazed plunged deep down into the trends that were shaping the eCommerce industry. And, the uncertain circumstances which led hundreds of businesses to turn online, set the eCommerce on booming fire. An uproar in the video viewership was seen. There, we found a void. The connection.
Let’s understand that.
The past years have seen great momentum in the uplift of live-streaming, and live-stream videos. And when we look at recent years, the online live-streaming industry has seen a steep growth with an increase of 99% between April 2019 – April 2020. The lockdown phase worldwide pushed the trend even further by growing 17% more than it was in April 2020.
On the other hand, an increasing number of merchants were moving their stores online to overcome the limitations put by the pandemic. Buyers too switched to online shopping and its impact changed the way online shopping was done forever.
Image Source: SurveyMonkey
In today’s era, when social media platforms such as Instagram, Facebook, Twitter, etc. are providing such immense opportunities to develop a connection- whether it be an individual or a business. B2B, B2C, C2C, and almost every type of business model is opting for online mediums to reach their buyers. And to this approach, live-streaming has been the cornerstone of all the techniques. In-fact, Live videos hold users’ attention 10-20x longer than pre-recorded, on-demand content. So, we thought of moving with the trend and filling the void.
The Innovation: LiveStream Commerce
Having our hands-on specialization over Magento services, we worked upon AWS technology and made it possible for Magento merchants to allow their shoppers to shop directly from the live-stream. With Livestream Commerce, stream viewers can now interact in real-time with the products and the influencer, asking about the product specifications, and expressing their views too.
Live Comments from the live-stream viewers.
Orders placed by other viewers in real-time.
This brings down the bar of distance by bringing the desired products to the shoppers right in their eyesight. This immersive experience-driven commerce helps Magento merchants, as viewing the products live in-use develops a sense of trust and credibility while shopping online. Additionally, allowing the customers to complete the whole checkout process right on the live-stream itself makes this experience frictionless and seamless.
Cart Checkout Process
Selection of payment options.
We’ve also kept all the functionalities convenient for the Magento merchants as well. During the live-stream, all the data that is acquired such as comments likes received, orders placed, etc. everything gets stored in Magento’s backend panel from where the admin can access it anytime.
Which once started with just an idea, when implemented, became an innovation that is going to be with us in this new normal. We’ve been getting recognition from the prestigious Magento Innovations Lab, and this makes us so uplifted to launch our innovations in the market. We’re sure to launch LiveStream Commerce soon for the merchants, also, in the coming future we have big plans to upgrade this innovation, making it even more seamless.
If we launch it, this will not be just limited to our application, but it will be compatible with other streaming services like FB live, Instagram, and others. And we’re not stopping our feet here, the innovation will be made functional and optimized for the latest PWA technology as well.
So, that’s all about our latest Magento Innovations Lab selection- LiveStream Commerce. And that’s how we’re developing technologies that matter.