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Livestream e-commerce: Why companies and brands need to tune in

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What comes to mind when you think of livestreaming? In the U.S., most people would name their favorite celebrity leading a Q&A on Instagram or a gamer doing a speedrun on Twitch.

In China, it’s shopping, streamed live.

Livestream e-commerce has taken off in China in the last few years and is expected to yield more than $60 billion this year. In 2019, 37% of online shoppers in China (a cool 265 million people) made purchases on livestreams — and that was well before quarantine. In 2020, it’s estimated to have reached around 560 million people.

During Taobao’s annual Single’s Day Global Shopping Festival in 2020 (China’s Black Friday), livestreams accounted for $6 billion in sales — nearly doubled from a year earlier.

Starting to see a trend? The big U.S. companies have noticed, and they’re jumping on the bandwagon faster than you can say, “Swipe up to buy now!”

Last December, Walmart livestreamed shopping events on TikTok. Amazon released a live platform where influencers promote items and chat with customers. Instagram launched a Shop feature that encourages users to browse and buy within the app. Facebook also kicked off Live Shopping Fridays for the beauty and fashion categories.

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“It’s an entertaining way for shops to tell the story behind their products. It brings buyers closer than ever to their favorite creators and allows them to have a voice in the conversation.”

Startups are growing fast to keep up with the heavy hitters — PopShop.Live raised $20 million to let people buy everything from books and toys to jewelry from sellers who livestream their offerings, and Whatnot raised a $50 million Series B, largely to expand its livestream commerce infrastructure. There’s also a burgeoning category of SaaS tools such as Bambuser, which is working with brands like Klarna to test native livestream shopping directly within branded apps.

At this pace, retailers will all welcome livestream commerce teams like they have influencer partnerships in recent years. It’ll just be part of the digital equation to stay competitive and relevant in the future of marketplaces and e-commerce.

From B.C. to 5G: The evolution of shopping

What is old is new again. Your grandparents spent years watching QVC because it balanced the experience of speaking with an associate with the convenience of their retirement community’s TV room. Livestream is today’s version of “shoptainment,” where hosts showcase products dynamically, interact with their audiences and build urgency with short-term offers, giveaways and limited-edition items.

Now, with livestream commerce, hosts can form deeper customer connections and answer questions in real time. It’s a new standard of communication that holds a longstanding truth from Istanbul’s Grand Bazaar to smartphones: People shop to kill time and are more likely to buy when they feel connected with a salesperson.

TechCrunch

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Instagram adds “Text to Speech” and “Voice Effects” feature to assist content creators to …

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Instagram has brought two new features “Text to Speech” and “Voice Effects” to its platform. These features are already present on Tiktok. According to Instagram, users who create reels will be able to use these new features to make the reels better.

After Tiktok was banned in India, Instagram added a feature called Reels on its platform to attract content creators, although even after this, Reels has not been able to garner as much popularity as Tiktok, keeping this in mind Instagram is adding features like Tiktok to the reels so that more and more content creators will get attracted to the reels.

Text to speech feature will allow giving artificial voice to text. On the other hand, if we talk about Voice effects feature then with the help of the Voice Effects tool, you will be able to modify the audio and voice-over. Using these features will also be very easy, you will get a total of five-voice effect options, with the help of which you can convert ordinary audio into artificial voice including Announcer, Helium, Giant, Robot, and Singer. After recording a reel, tapping on a music note in the audio mixer will take you to the Effects menu, where you can add different sounds to your reel. Users can leverage these features on iOS and Android devices. Further in this article we will know how we can use these features to make a perfect reel.

Step 1: First of all go to the Instagram app and open the Reels section.

Step 2. After that open Instagram camera tocreate a reel or upload it from the mobile gallery.

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Step 3: Now to write new text, you have to go to the Text tool.

Step 4: After typing the text, tap on Text to Speech at the bottom.

Step 5: In this option, you will see different options of voice, out of which you can select the voice of your choice.

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