Posted by Louise Prance-Miles on 6 October 2021
Worldline, the European leader in the payments and transactional services industry, has announced a partnership with Livescale, a pioneering force in the adoption of live shopping.
Live shopping, a trend in which retailers, influencers, or celebrities promote and discuss products and services with shoppers via livestreaming video, is proving to be one of the fastest growing phenomena in ecommerce today.
Together Worldline and Livescale will offer an embedded commerce solution with seamless in-video checkout capabilities across social media and websites, which will support 150 online payment methods so shoppers can pay as they like.Live shopping has emerged from China as one of the hottest trends in e-commerce.
On the popular Chinese shopping platform Taobao over 50 percent of its 800 million customers use livestreaming e-commerce. For Chinese e-commerce businesses, live shopping is becoming a standard toolkit to sell online and particularly within fashion and cosmetics. Its popularity is growing exponentially across the globe and has gained traction in more mature markets such as the United States and Europe, especially as widespread lockdowns have forced physical stores to find new ways to engage with consumers.
Live shopping is seeing impressive payment volumes and engagement with Livescale reporting boosting brands sales by a factor of three to six, a conversion rate up of 39 percent and new customer acquisition rate of up to 40 percent. This bodes well for future sales.
The Worldline / Livescale partnership combines Livescale's embeddable Live Shopping software with Worldline's connected checkout functionality, increasing e-commerce sales conversion rate well above industry standard. One distinctive feature is in-video check out, which allows consumers to complete the payment for their purchase seamlessly while staying in the live video experience. This facilitates both the promotion and sale of goods or services, as well as deepening effective engagement with consumers in real time as brands look to bridge the physical and digital – "phygital" – gap in retail.
This enhanced offering, alongside a robust analytics dashboard, will help provide brands and manufacturers with those three critical factors they are so desperate to share with their customers – inspiration, an enhanced shopping experience and increased loyalty.The statistics speak volumes. L'Oréal, an early adopter of the Worldline / Livescale Live Shopping solution in Canada, saw a 300 percent increase in sales in one hour of live shopping compared to one day of e-commerce activity, an average of 40 percent engagement across all events to date and a 50 percent boost in new customers.
In addition, sales during Lancôme's special Singles Day event in Canada exceeded expectations, earning a mention in Vogue Business' holiday trend analysis for 2020.
Jie Xue, Product Manager Innovations at Worldline Digital Commerce commented on the partnership, "The launch of this new initiative is a step change in the way customers will interact with brands in the future. Consumer behaviour has changed dramatically over the past few years, and the Covid-19 pandemic has further accelerated the digitalization of retail. Enabling customers to purchase seamlessly without friction and at pace will increase transaction volumes and substantially improve the customer experience."