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Strategy & Insights: Up Close

3 Emerging Trends of Live eCommerce You Need to Watch

1. Rising acquisition cost means long-term customer relationships

Online commerce has exploded since the start of 2020, and there has been stiff competition for customer loyalty. You will find you struggle with short-term engagement rather than long-term profit. Invest in your brand diversity through analytics and SEO. This can lead you to new marketplaces or channels that connect with more of your target audience. 

2. Death of third-party cookies means rethinking personalization

Advertising has become expensive and limited by privacy laws and ad blockers. While this is great for the privacy of all of us as consumers, reaching our target markets as advertisers is more challenging. Consumers are more aware of their online privacy, so earning their trust in your ability to handle that information is vital to establishing long-term relationships. To avoid third-party cookies, many brands collect data directly from their customers through quizzes or apps and plan to be more transparent about using that information. 76% of customers are comfortable with personalization if brands use their data and not purchased data.

3. Commercial opportunities on social platforms

Social media platforms are merging with eCommerce. It reimagines the interactions between brand and consumer as more opportunities become available. Due to the increase in social media and video consumption, your target audience is likely spending a large portion of their day online. Tailor your live commerce experience to that audience. What times are they most likely to be online, what channels are they on, how long do they watch a live stream, etc. are some questions you should answer to optimize your social commerce. For more information on the future of live e-commerce, go to the 2023 Future of E-commerce Shopify Report.

graph of platforms that influence each generation

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