A Guide to Local Payment Methods in Malaysia
Unlock the potential of the Malaysian e-commerce market with this comprehensive guide to local payment methods, including FPX, e-wallets, and BNPL.
Read more
Live shopping, evolving from traditional teleshopping, has transformed e-commerce by merging real-time purchasing with audience engagement. Influencers or brands showcase products via live video streams and interact with viewers through chat functions. They offer immediate purchase options with incentives like free shipping and discounts. This approach has gained global popularity, especially in Southeast Asia, where awareness has reached over 90 percent. According to Statista, over a third of social media users in Indonesia, Vietnam, and China have recently watched live shopping streams, with Shopee, Facebook, and TikTok being the most popular platforms.
Southeast Asia's booming digital economy, with over 400 million internet users and high internet penetration, has significantly contributed to this trend. Users in the region spend the most time online daily among Asia-Pacific countries, engaging in social media, gaming, and shopping. Coupled with a tech-savvy, youthful population, Southeast Asia has embraced live shopping enthusiastically. This has created a vibrant and interactive shopping ecosystem that is growing rapidly.
To better understand this phenomenon, let's delve into what live shopping entails and how it differs from traditional e-commerce.
Live shopping is a modern form of social commerce that revitalises traditional home shopping by showcasing products in real time through live video streams. This method allows sellers to interact directly with customers, answer questions, and offer immediate purchase options. Unlike traditional e-commerce, live shopping is highly engaging, with promotions often valid only during the live stream.
Viewers can leave comments and receive instant responses, making the experience interactive and informative. Sellers can highlight reviews and recommendations, guiding customers through their purchasing decisions. This real-time interaction, coupled with the excitement of live broadcasts, creates a unique and compelling shopping experience.
So, what is social commerce? It encompasses live shopping and other interactive methods that blend social media with e-commerce. Originating in Asia, particularly in China, social commerce has gained massive popularity on platforms like Taobao and JD.com. Influencers and celebrities host live streams, attracting millions of viewers and generating billions in sales. This trend has spread across Southeast Asia, with platforms like Shopee, Instagram, and TikTok now offering live shopping features.
Southeast Asia's live shopping scene is thriving, and several platforms have emerged as favourites among both sellers and shoppers:
As one of the region's leading e-commerce giants, Shopee Live leverages its massive user base and integrated shopping features to create a seamless social commerce experience.
Another e-commerce powerhouse, Lazada offers LazLive, which boasts a wide range of products and engaging live streams.
With its vast reach and familiar interface, Facebook Live is a popular choice for businesses and influencers to connect with their audiences in real-time through live-streaming shopping events.
Instagram's emphasis on visuals and its engaged community makes live shopping on the platform a natural fit for showcasing products and interacting with followers.
TikTok's short-form video format and its algorithm's ability to quickly surface trending content make TikTok Live a dynamic and potentially viral platform for live shopping.
Collaborate with influencers and KOLs to reach a broader audience. Their established credibility can help boost your brand's visibility and attract more viewers to your live streams.
Engage your audience with interactive content. Use live polls, Q&A sessions, and real-time feedback to keep viewers entertained and involved. The more interactive your stream, the more likely viewers will stay and make purchases.
Incentivise viewers to buy by offering exclusive discounts and limited-time offers during your live streams. This creates a sense of urgency and encourages immediate purchases.
Taking your live shopping game to the next level involves investing in the right gear. Here's what you'll need to create professional-quality live streams:
For live streaming, you can use anything from high-quality smartphones to professional cameras. Smartphones offer convenience and decent quality, while professional cameras provide superior image quality and more control over your visuals.
Good lighting is crucial for a professional-looking stream. Ring lights and softbox lights are popular choices, providing even and flattering illumination that enhances the visual appeal of your broadcast.
Clear audio is essential for effective communication. Lapel mics and USB microphones are excellent options, ensuring that your voice is heard clearly without background noise.
Stabilisers and tripods help keep your camera steady, resulting in smooth and stable footage. This equipment is vital for maintaining a professional look throughout your live stream.
To manage your live stream, consider using software like OBS Studio or Streamlabs. These tools offer a range of features to enhance your broadcast, from overlays and transitions to audience interaction capabilities.
Setting up basic live streaming equipment can cost between $200 to $500, while advanced setups may range from $1,000 to $3,000, depending on the quality and type of equipment.
To invest in new marketing initiatives like live streaming, consider exploring Choco Up's revenue-based financing solutions. They provide the capital needed to enhance your live shopping capabilities and drive growth.
Technical glitches can disrupt the flow of your live stream and frustrate viewers. To minimise these issues, ensure you have a stable internet connection, reliable equipment, and backup plans in case of technical difficulties.
Keeping viewers engaged throughout the stream can be challenging. Use interactive elements, respond to comments, and maintain a dynamic and entertaining presentation to keep viewers interested.
Handling logistics and fulfilment after a live shopping event can be complex. Ensure you have a streamlined process in place for order management, inventory tracking, and timely shipping to maintain customer satisfaction.
Live shopping is transforming the e-commerce landscape in Southeast Asia, offering a dynamic and engaging way to connect with customers and drive sales. By adopting successful strategies such as partnering with influencers, creating interactive content, and offering exclusive deals, businesses can maximise their social commerce potential. However, it’s essential to address challenges like technical issues, viewer engagement, and logistics management to ensure a seamless experience.
For businesses looking to enhance their social commerce capabilities, consider exploring Choco Up's revenue-based financing solutions. Choco Up provides the necessary growth capital for e-commerce businesses, offering flexible and personalised funding options. With the right investment and strategy, live shopping can become a powerful tool for growth and success in the Southeast Asian market.
Grow your business with Choco Up
Unlock the potential of the Malaysian e-commerce market with this comprehensive guide to local payment methods, including FPX, e-wallets, and BNPL.
Everything you need to know about e-commerce CMS, key features and top options for your business. Explore more below!
