Even in a world where stunning technological advancements abound, it’s not that often when such advancements have a genuine opportunity to revolutionize an entire industry, let alone disrupt an industry generating multi-trillion-dollar annual revenues. Though exceedingly difficult and rare, that circumstance is not impossible. This is exemplified by the profound impact that live, in-person video is now poised to make on the global e-retail trade, which some estimates project will grow to a staggering 5.4 trillion U.S. dollars in 2022.
So extreme and significant are the anticipated e-Tail industry impacts of live e-retail video and the financial upside in kind, one player pioneering B2B software solutions in the space—Getbee—has realized a stratospheric start. Already working with world-class brands clients like Dolce & Gabanna, Lancôme, Microsoft, Dermalogica, and other global brands throughout the U.S., LATAM, Europe, and MENA (Middle East and North Africa), Getbee’s proprietary live online video technology connects brands to their online customers via live video consultations for a ‘humanized’ online shopping experience.
This human-to-human capability is ushering in a new market standard, and driving the overarching relational economy, by combining the simplicity of a call and the power of e-Commerce. Sales experts are now empowered to engage directly with online consumers the way they would in a physical store, sharing product recommendations, rendering opinions, answering direct questions, and even completing a purchase—all via live video. This novel online retail approach is already showing unprecedented results, with some early metrics including upwards of a 50 percent conversion rate, +60 percent average basket value, and a staggering 97 percent boost in customer loyalty; stronger relationships that directly correlate to increased customer lifetime value.
It’s the need, utility, and demand for live e-retail video that is undeniable. Today, there is a glaring disconnect as online shoppers do not enjoy the same level of personal attention—and overall service—as they do when frequenting offline brick-and-mortar stores. This is especially true for segments that have a consultative sales process or offer high-value items, such as luxury, furniture, mobility, wellness, and much more for which the software is ideally suited.
“Throughout history, commerce has always been about people buying from people,” notes Getbee founder and CEO, Thea Myhrvold. “Our live video technology is ushering this personalized and attentive experience into the digital era in an easily deployable, highly accessible, and entirely scalable way for online retailers. Our vision is to transform the way billions of people buy and sell online, including minimizing web store and cart abandonment, bolstering transaction completions, and generally heightening customer satisfaction and brand loyalty.”
The benefits of humanizing the online sales process with live, in-person video interactions akin to a physical store are numerous. These retailer-branded experiences—all maintaining a company’s visual identity, look and feel—instantly connects consumers with star sales experts who become available with one simple click. With the simplicity of a call-in combination with the power of e-Commerce, those team members can then seamlessly drive sales, create, and manage shopping carts, and complete purchases in-call. The retailer also enjoys access to real-time business insights and full data at a scale relative to the performance of its team, from usage to conversion, to increase revenue opportunities.
“Think about the last time you bought something online … any purchase where the customer ‘gets’ to talk to a real person on the front line is where value is created or amplified for brands,” added Izabella Naessa, Head of Sales. “It’s exciting to see how this creates value across segments and verticals.”
The COVID-19 pandemic has greatly accelerated the growth of the online retail industry, and brands are scrambling for ways to capture, keep, and convert customer attention. Maximizing the potential for interpersonal human-to-human connections by “breaking through” the digital divide via live online video is a magnificent means toward the relational economy end.
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Merilee Kern is the Founder, Executive Editor and Producer of “The Luxe List” as well as host of the “Savvy Living” lifestyle TV show.
