The world of e-commerce is changing rapidly and new trends and selling platforms are emerging that could mean the END of Amazon’s heyday.
Is it time we adapted, or shall we stick to the tried and tested formula?
The most successful online entrepreneurs are those that keep up-to-date with new developments and put themselves at the forefront of these changes.
If we want to see what’s going to happen in the future for e-commerce, we need to look to China – the biggest retail market in the world – and two websites called Taobao and Tmall.
They’re both live-streaming shopping platforms where sellers and influencers demonstrate and talk about their products in real-time. They give watchers the chance to purchase the item without leaving the site.
To say Taobao and Tmalll are big in China is an understatement. One of Taobao’s biggest stars is Viya, and on Single’s Day (the biggest shopping day in China), through her live channel, sold ¥3 billion worth of product. That’s about $450 million of product IN ONE DAY!
Predictably, Taobao and Tmall have attracted the attention of other mega-influencers. The Kardashians have been to China to meet with Viya and have dipped their well-pedicured toes in the world of live-stream selling.
What does this mean for Amazon?
Selling through live TV is nothing new.
Infomercials and other direct-response TV advertising have a long and profitable history in the USA, Australia, UK and Europe – just look at the success of The Home Shopping Network and stars like Billy Mays.
Buyers on live streaming platforms have different needs than those buying on Amazon. With Amazon, you search for a specific product you already know you want. With Taobao and similar, you see products you didn’t know existed – let alone wanted.
Amazon is not well-suited for discovering new products, and Jeff Bezos knows this is its Achilles heel. That’s why Amazon has introduced Amazon Live.
You may not have heard of it, but Amazon has a live channel where influencers showcase their products, interact with customers and of course sell the items.
If you’ve never heard of it, you’re not alone! But it’s an indicator that Amazon knows that this is where the industry is heading and it’s getting their foot in the door.
If Amazon and other sellers are embracing this shift, then we need to too.
What should you do to keep up?
In order for us to be successful in the long-term – I’m talking 5/10 years plus – we need to see new trends as they’re emerging and get involved in the action.
I believe the future of e-commerce is in live videos and with influencers, so we need to think about how we can market our products through Instagram, TikTok et al.
If you’ve got the right kind of personality, you could make live videos with your product at the forefront. If you’d rather someone else was the spokesperson, think about an ideal influencer who already has a hungry audience who’d love to buy your product.
I wholeheartedly believe that live selling is the future of e-commerce, just look at China’s Taobao and Tmall for proof.
And as Amazon sellers who are in it for the long haul, we need to think about how we can adapt our brand to this style of selling and how we can take advantage of live selling and influencers to sell our products.
I’m sure I’ll be covering this exciting topic again over the coming months. Keep checking back for more of my Amazon selling thoughts and advice!
Virtual hugs and kisses!