Is This the End of Retail Stores?

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We took a look to consumer behaviors on my previous writings. Now I would like you to invite to take a tour on  new shopping channels.

While everyone’s way of thinking, habits are changing, we can not expect to keep same shopping habits for consumers. Because lifestyle is has changed rapidly in a few decades. Before online shopping websites there was only retail stores, street markets etc. In the last decade, especially online shopping growth massively. According to the Forbes contributor Tomato Yokoi, e-commerce business revenue increased 40-80% compared to last year. Also US online shopping reached up to 80% in North America since January.

Undoubtedly, consumers are favor of online channels for buying goods. Besides, online shopping is not a new thing with 25 years past. During this 25 years, technology and consumers altered. Meanwhile, this shifting is creating new marketing methods. One of these is livestream shopping.

China has a good grasp of  livestream shopping.  One of the biggest live-stream hub is Taobao, which is the biggest online shopping platform of China; owned by Alibaba. According to Alibaba’s news hub Alizila, Taboo generated income more than $15.1 billion in 2018 compared to the previous year.

80% of Taobao’s visitors are females. On these sessions hosts present the products which includes everything you can imagine. And you can buy directly. There are phenomenon hosts like popular influencers. In US and Europe live stream shopping events are preferring for entertainment and gaming business. But Western countries are exploring live selling and adopting themselves. For instance; Zaful, an American clothing brand, is holding Instagram live stream shopping events on its own page.

Estée Lauder is another brand, which prefers live shopping events. American beauty brand generated $70m income in the first 25 mins during China’s Singles Day shopping event. We can notice the importance of e-commerce from these results.

Another e-commerce way is getting help of some kind of new technologies like AR (Augmented Reality.) M.A.C Cosmetics is the fist brand presents AR try-on lipsticks to their customers. This new experience also gives time efficiency. Consumers spend approximately 80 seconds to try lipsticks.

YouTube also using the same technology. Influencers can promote sales of beauty products. You can visually try the same products with them.

Pinterest also added the same future to its website for the brands like Estée Lauder, Sephora, bareMinerals, Neutrogena, and L’Oreal brands NYX Professional Makeup, YSL Beauté, Lancôme, and Urban Decay. You can try and buy. Pinterest using the same technology lens for furnitures too. You can select the furniture and then you open your smart phone’s camera, can see how it fits to your home.

Strongly believe that these kind of exciting online sales methods will keep on breeding. Maybe store retailing will be dismissed from our lives in the next decade.

Technology is the greatest parameter of new shopping methods.

Begüm Oğuz

“New Author of Fashionziner Masterpieces”