Facebook Live Shopping: What You Need to Know
Facebook Live Shopping, like TikTok, gives brands an opportunity to create live-streamed shopping events where consumers can see the product in real-world environments, ask questions and purchase directly on the screen. With expected revenue of $500 billion by 2023, Live Shopping is a relatively new trend outside China, and is expected to become a significant part of the online selling ecosphere, meaning right now is the perfect time to dive in and learn more.
It’s important to not be fearful of the trial-and-error process with Live Shopping. Currently, brands have the opportunity to get ahead of the curve, perfecting their strategies and practices before the trend fully cements itself in the e-commerce and shopping world. Furthermore, Live Shopping can help brands to present themselves as more authentic to consumers, which in turn, can increase conversions. In fact, according to research, 90% of consumers say authenticity is a leading factor when deciding to make a purchase.
What You Can Do Right Now
When it comes to Facebook Live Shopping, in particular, it’s important that your social media presence is strong and includes shoppable posts, creative sponsored advertisements that lead directly to your website, and product carousel ads. This will help to bring awareness to your page and brand, driving more viewers to your Live Shopping events and to your website.
To learn more about Facebook Live Shopping and how Highlands can help, contact us.
Amazon Reconciles with Visa
Amazon has reached an agreement with Visa to settle the disputes over Visa’s credit card fees. This comes two days before Amazon had announced they would no longer accept Visa credit cards in Britain. Amazon made this decision after many retailers expressed their frustration with the costs associated with major credit card companies. With buy-now-pay-later services such as Klarna taking center stage, Visa and other major credit card companies are now facing intense competition, likely being a motivating factor in Visa’s decision to reach an agreement with Amazon. While neither party has discussed the terms of their agreement, this reconciliation signals a shift towards new payment options and solutions that benefit both the customer and the retailer.