The Power of Live Shopping to Enhance the Traditional British Retailing Sector
Sprii's CEO discusses live shopping's transformative role in modern British retail.
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By Christian Vester, Co-founder and CEO of Sprii
As the Co-founder and CEO of Sprii, I have witnessed first-hand how live shopping enhances and transforms the traditional method of British retailing. In recent years, technology has completely reshaped how consumers shop and interact with brands.
The rapid pace of innovation has been staggering. Just a decade ago, shopping was dominated by trips to physical stores and browsing through paper catalogues. Today, the rise of omnichannel commerce means customers can seamlessly combine online and offline touch points during their purchasing journey.
Live shopping specifically allows for the live activity of selling products online via a host introducing and demonstrating products, in turn motivating the real-time purchase intent of viewers.
This relatively new format effectively merges the convenience of e-commerce with the interactivity and ubiquity of social media. Shoppers can watch product demos, interact with hosts via live chat, and often buy featured items without ever leaving the stream (or comfort of their homes).
When we first started Sprii, one of our key motivations was to help traditional brick-and-mortar stores adapt to the rapid changes brought about by e-commerce. Many well-known brands were struggling to compete as sales shifted online, lacking the technical capabilities to keep up with this revolution. We saw an opportunity for them to not only survive but thrive in the digital age through live streaming.
This is still our core mission today. We want to empower brands and retailers of all sizes by making digital shopping more ‘lively’ and mimic the human interactions of physical stores.
The success of China’s live shopping industry has demonstrated this concept powerfully. Despite large disruptions from the pandemic, small businesses and farmers still boomed thanks to the adoption of live streaming [1]. For example, one cherry farmer saw his daily sales jump from 200 kg to three tons after beginning live commerce initiatives [2]. The success in Asia has now also crossed continents to Europe. Danish sportswear brand EYDA's live shopping events exemplify the power of the format, driving a 200% sales increase in just one hour and 75% new customer growth compared to typical performance. [3]. Furthermore, Flying Tiger Copenhagen's inaugural live shopping event to UK audiences attracted over 3,200 viewers and 2,300 comments in one hour, exemplifying the massive engagement and success this relatively new sales format offers. [4]
This is the transformational power I want to bring to British retail. Our technology, expertise and hands-on approach can provide strategic and practical guidance at every step of the live streaming journey.
With live shopping, brands can showcase products dynamically, respond to questions in real-time and offer time-limited promotions to inspire urgency. This telescopes the customer journey, accelerating awareness, consideration, and conversion in one seamless flow. The numbers speak for themselves – conversion rates up to 60%, 20 times higher than traditional e-commerce [5]. Live shopping also generates invaluable data on customer preferences through interactions and engagement.
Of course, live shopping has applications far beyond retail. We have only scratched the surface of how this technology can be used in sectors like healthcare, travel, entertainment, education, and more. At Sprii, we are excited to continue innovating and finding new ways for businesses to harness the power of live streaming to engage their audiences.
The opportunities feel endless, and the future is bright and ‘lively’!
[1] McKinsey & Company, “It’s showtime! How live commerce is transforming the shopping experience”
[2] “Live, Love, Bonito: How Livestreaming Saved My Business” – Youtube and other sources
[5] Sprii.io – Verified data from over 34,000 Live Shopping events
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