In this revolutionized era of e-commerce, every day we observe creative things come into play. However, it is sometimes exciting and scary as well to go through this ever-changing landscape of live e-commerce (Online Video Shopping App).
Such updates work as a boon for some e-commerce businesses whereas challenging for some others. The e-commerce industry has been expanding and growing continuously.
Recently, Live Stream Shopping has become the most popular and trending topic of discussion in the minds of people. This is a great opportunity for e-commerce startups and businesses to increase their sales and achieve great success.
As per TechCrunch, the “Talkshoplive” live video shopping startup raised more than 6 million in a very short time.
If you are interested in knowing more about this Livestream shopping app, then here we are with an article that covers all the parameters from live e-commerce app development to its development cost.
Let’s quickly dive into the details of an article for better understanding.
First, have a look at some stats and the e-commerce growth trends.
- Global e-commerce sales were expected to reach $4.9 trillion by the end of the year 2021
- With passing days, Omnichannel shopping will become more prominent. Also, 73% of the customers use multiple channels for their shopping
- Most people have appreciated and chosen online shopping over traditional shopping
- There are more than 2.14 billion digital buyers worldwide
- As per the reports, 81% of the customers first conduct online research before going online shopping
- Every national market covered by eMarketer saw double-digit e-commerce growth in the last few years
Thus, this was a short glimpse of the current market scenario of this e-commerce platform.
E-commerce is a type of platform that comes with a broader space to reach customers at any time and anywhere.
The Livestream video shopping platform is just like putting retailers in front of a wide range of audiences across the globe.
Live commerce enables customers to respond to video shopping and buy their things.
In the last year, Live video shopping generated sales of more than $60 billion. It shows the popularity of online video shopping apps with e-commerce.
The Livestream video shopping provides an inclusive experience to the customers rather than just clicking and filling the virtual carts.
In this new era, video e-commerce plays an important role in the e-commerce strategy. Let’s have a look at the various benefits it brings to e-commerce:
With a video, a lot of information can be conveyed easily to the target audience. A video has more depth than a single image. You can hold your audience for a longer time with a video on your app.
Most people like a moving picture, therefore, videos can consistently get higher clicks through rates. If they like the video, the chances of making a purchase increase, which ultimately boosts sales.
Video searches are among the most popular search results, and if you have a video on your website or application, you come up with more and more search results, enjoy better rankings, and increase traffic.
Presenting a relatable video has higher chances of resharing the video. People who like to watch a video of a product are highly likely to convert.
Nowadays videos can be created easily by simply using smartphones’ high-resolution cameras.
It is quite evident that people have an inherent knowledge of shooting a video and editing it quickly. Therefore, it brings down the cost of producing videos remarkably.
The Video Shopping app brings together the influencers, consumers, and merchants under a single platform. This way, the consumers don’t have to switch between the media for buying a product.
There are two important things that you need to consider while developing a live e-commerce app.
The first one is the technical stuff and another is the core market side analysis. Let’s have a look at the following steps:
The first and foremost thing that you have to do is conduct proper market research and analysis about your brand’s industry niche.
You need to check out first about the trend the ways in which you can give a boost to your platform and how you can gain more users.
Also, have to keep in mind your competitors. You must know their strategies and what they are up to, and accordingly, you have to make a unique application to beat your competition.
Having a pre and post-marketing plan for your application launch is very essential. In the initial stages, you have this great opportunity to reach the maximum number of users and leave a remarkable mark on their heads.
Once you are done with all these facts, the next step is working on the tech part of your live streaming shopping application.
The only thing that you need to give utmost attention to is hiring a mobile app development company for your business or startup. The entire success of your application is dependent on the company you hire.
Apart from that, you have to decide the app development platforms for your online video shopping app. It would be more good to go with both the platforms i.e. Android and iOS. You can also go for a hybrid app development solution.
You have to pay more attention to the UI/UX design of your application. It is essential to focus on the design and also it is a great way of attracting more users to your live e-commerce platform.
For the success of your application, you have to work more on UI/UX design to provide a better user experience. Don’t ever compromise with the app design of your application.
Here comes the most important part,
Features & Functionalities. Adding extraordinary features can make a huge difference in your sales and drive traffic to your app.
We have mentioned below some outstanding features that you must integrate into your online video shopping app.
- User Login
- Social Media Login
- Browse Events
- Watch Reel Video
- Join Event
- Set Reminder
- Add Product to Cart
- Order Tracking
- Online Payment
- Order History
- Admin Dashboard
- Sub Admin Dashboard
Another important factor to look out for is the speed while live streaming shopping. Users don’t appreciate buffering, so you have to pay attention to speed and data loading for your online video shopping app.
Now that you are clear about the app development process. You are ready to build your video shopping app but make sure that the company you hire follows each step of a mobile app development process. This will help you get a bug-free and efficient application.
Here are some top video shopping apps:
Alibaba is a China-based application that first launched online broadcasting of products with the tagline “See Now, Buy Now”.
A C2C marketplace operated by Alibaba wherein 10,000+ celebrities review the products via live streaming.
Recently Amazon launched “Amazon Live” wherein the retailers can live to stream their products
Recently Amazon launched “Amazon Live” wherein the retailers can live to stream their products
It is a type of app from which we can record a video of a product or service and integrate it on a website, social media platform, or any other kind of video platform.
It is an outstanding way of showcasing your products and gaining a massive audience. The only drawback is you can’t assume the requirements of your audience.
Live Video Shopping or Live Video Stream Shopping has audience interaction.
Here, the video presenters go LIVE, which is the chance to understand the reaction of their audience in real-time.
When it is one-on-one, the presenter requires only asking what the shopper desires to know or see.
They can directly respond to their requirements. Resultantly, the chances of conversion are very high.
Then in the one-to-many scenario, the presenters are posing questions and get the response from the audience by tweets, polls, direct messages, or they can even gauge the reaction based on how many people leave the LIVE.
In this scenario, it benefits when the presenter is entertaining, as the more responsive these presenters are to the audience, the greater is going to be the propensity to make purchases.
A type of Video Shopping app is mainly developed for a brand to execute its day-to-day operations.
In this type, the customers get associated with a specific brand, and all the operational activities varying from receiving orders to delivering successfully are entirely managed by the brand.
All the merchants are under a single platform, so the app users find shops, vendors, and dealers (in the proximate location).
These sellers offer the users the best deals on the products shown in the Video shopping app. In this model, usually, the app charges a particular commission amount from the vendors, dealers, and shops registered on the app.
The growth of this platform is quite evident and will continue to grow more in the coming years. A business can generate a decent amount of ROI by investing in this field.
If you are interested in investing in developing a video shopping app then here are some strategies using which your application can make a good amount of money:
By adding this model to your app, the users have to pay the subscription fees to access their desired videos available on the platform. The users can pay monthly for accessing such videos.
This model enables other brands to display their products on your application or sell them using your platform.
Therefore, a specific fee is charged by the app as a commission from such types of businesses.
Here, the new content that the app launches on the platform can be promoted via small video clips to allure the users. These clips require entertaining and captivating to catch users’ attention. Also, only premium account users can get access.
In this model, the app derives a good amount of revenue from the advertisements.
The app sells its space on the homepages and pages, and here the most-liked content helps earn good returns.
Further monetization is done with ads displayed on the range with maximum user engagement & downloads.
Here are some must-have features for your video shopping app:
The Live streaming feature is a must-have feature as it enables the presenters to conduct a Live stream to convey their message, be it about the product, giving a demo, and presenting it in an entertaining way to the audience.
In-app Voice Assistant is one of the essential Shopping app features for integrating into your video shopping app as it increases the app’s value significantly.
Your audience would love this opportunity to use a voice assistant in their interaction with the video presenters during a LIVE session.
This feature enables the app to send messages, alerts, and notifications to the app users to convey important information to them.
Customer Relationship Management integration is very important for any app.
This feature enables making relations better with users by considering their requirements and offering personalized recommendations and services to them.
You can gain a huge number of loyal users by integrating this feature into your application. You can offer them more pleasing services like rewards, coupons, discounts, etc.
Integrating this feature in your application can be helpful as it provides admin access to the real-time statistics in reports, pie charts, and dashboards on the admin panel.
Admin gets the information about live shows which helps them to strategize the market and plan the content accordingly.
It is very important to find out the behavior of users towards your application to make your app successful.
This can be done based on the searches saved in the back-end. The app can send recommendations to the users which will attract more users. This helps in content promotion and to get more views from users.
After analyzing the rankings and reviews from the users, the app platform filters content that is pushed to any user’s screen.
There are several smartphones of different formats, be it Android, iOS, and Windows, also many digital devices, like laptops, tablets, from which the app users like accessing a video.
Therefore, the video app developers must make an app that supports all the devices & formats.
The video app developers sometimes face problems in attaining a stable stream transport under all conditions. They face challenges at avoiding complex server setup, installation, and maintenance processes.
Several standard formats let live video streaming depending on the operating systems, browsers, and platform. You have to find a suitable design for your use case. In this process, you might come across the following challenges:
To set up a live stream and maintain good-quality delivery, requires complete knowledge around server installation & maintenance.
Your stream & camera signal must be stable even in the unstable network conditions for the playback on a global level. This needs a high-quality adaptive bitrate algorithm & quick reconnect workflows.
Look for the playback quality on different platforms & devices. It is essential that your playback software enables you to share multiple streams of the same event or has a large global audience.
Content Transcoding is another challenge as it can be pretty expensive to save large data sets as a procession of various jobs is done in several formats.
A video platform must keep track of its app users, including the customer, admin, merchant, and influencer using its analytics. Usually, these analytics reports lack the details and tend to be pretty expensive. There are multiple mobile application analysis tools available for that.
Any app must find its number of users, regardless of their number constantly increasing.
The app has to ensure that the back-end architecture is scalable so the number can be easily calculated.
Keep in mind that the storage of data on a large scale can be expensive and slow. Also, the bandwidth offered is very intensive.
Let’s have a closer look at the technologies mentioned below that are required to be integrated while developing a video streaming shopping app.
- Push.io, Twilio for Push Notifications
- Nexmo, Twilio for Voice, SMS, and Phone Verification
- Stripe, PayPal, Braintree, e-Wallets for payments
- Robust Programming for GWT
- Manage Data with Datastax
- Manage everything regarding emails with Mandrill
- MailChimp Integration, Postgres, HBase, MongoDB, Cassandra for Database
- AWS for Cloud Environment
- IBM, Cisco, Apache Flink, BigData, Spark, Hadoop for Real-time Analytics
It is quite challenging to tell you the exact cost of developing a Video Shopping app.
Various factors affect the cost of developing a Video Shopping mobile app, such as app size, features, design complexity, location of the app development company, developers’ cost, and more. For developing a Video Shopping app or app like Etsy, your team includes:
- Project Manager
- iOS, Android developers
- Backend developers
- UX/UI Designers
- Quality Analyst professionals
Let’s have a look at the hourly charges of a developer depending on the country.
- For US-based developers, it is $50-$250/hour
- Eastern-Europe, it is $30-$150/hour
- For India-based developers, it is $10-$80/hour
Considering all the factors mentioned above, on average, the overall cost of developing an online video shopping app is somewhere between $15,000-$20,000 for a single platform. If you wish to add advanced features in your application and are developed for multiple platforms, it would cost around $30,000-$40,000. The cost may vary depending on your project requirements.
Every startup or business aims to provide the best user experience and brand awareness as much as possible. Online video shopping apps are loved by people across the world. Adding such a feature to your existing or newly built e-commerce app can be profitable for your business.
Echoinnovate IT is one of the leading and experienced software development companies that have catered their expertise in almost every industry niche.
Share your ideas and thoughts with us, and we will serve you with the best live commerce app development solutions. Get in touch with our experts now!
FAQs
How long does it take to build an Online Live Video Shopping app?
It might take 2-6 months depending on your project requirements.
What are some other great video e-commerce platforms?
- Bambuser.com
- Hapyak.com
- Livescale. Tv
- Spin. Live
How much does it cost to develop an Online Live Video Shopping app?
It would cost you somewhere between $30,000-$40,000 for both platforms (Android and iOS). The cost may vary depending on various factors such as app size, features, design complexity, location of the app development company, developers’ cost, and more.
