Buywith, a Livestream Shopping platform, was in the news recently as it closed a $9.5 million seed round. Used by Walmart and other Fortune 500 companies, Buywith is part of the booming Livestream shopping trend that racked up $300 billion in global Livestream shopping sales in 2021 and is projected to surpass $35 billion in the US by 2023. Are you looking to ride this trend and create a livestream shopping platform? There’s no need to look any further! Following the steps in this guide will give you everything you need to start.

What is buywith?

Founded by Adi Ronen Almagor and Eyal Sinai in 2018, buywith enables retailers, influencers, and celebrities to livestream their products and services to an audience of shoppers on brands’ websites and allows viewers to interact with the retailer, ask questions, and make purchases. Unlike other Livestream shopping platforms, buywith does not necessitate app downloads or code integration and creates a turnkey “Shop With Me” experience that helps brands capture high-value customers and shoppers discover precisely the products they need. buywith is launching partnerships with Steve Madden, Charlotte Tilbury, and other global brands. Buywith boasted an 8X increase in eCommerce conversions, a jump of ~40% session engagement rate, and an average 10x ROI.

Livestream shopping: The Perfect Amalgamation of Video and Social Commerce

Approximately 30% of shoppers walk out of a physical retailer making a purchase, while today’s eCommerce results convert at 4% globally. Livestream shopping is the next step in the eCommerce evolution and is bound to become the accepted way buyers shop as they pursue better value, information, and a more engaging shopping experience.

Livestream shopping, or live eCommerce, is a relatively new concept that combines the best of social media and video streaming with the personal touch of brick-and-mortar retail stores to create an immersive, interactive shopping experience. Think of it as a cross between a live infomercial and a reality TV show, where viewers can not only see the products being sold but also ask questions and get real-time feedback from the hosts, which makes the experience more personal than traditional online shopping. Other reasons why it is gaining popularity include:

1. Livestream shopping is interactive and engaging.
2. Livestreams can be watched on-demand, so viewers don’t have to worry about missing anything.
3. Limitless Audience Potential
4. Livestream shopping is convenient – viewers can shop from the comfort of their own homes.
5. Retailers can use live streams to connect with potential customers from all over the world.

It’s a compelling way to connect with potential customers and build brand loyalty. It’s no surprise that major platforms like Amazon and Facebook are already investing in this burgeoning trend.

It’s also worth noting that livestream shopping platforms are not just limited to selling physical products. Brands also offer live beauty tutorials, cooking classes, and even fitness classes via livestream.

What are the benefits of livestream shopping?

There are many benefits of using Buywith or other live streams for retailers and shoppers. For retailers, it’s a great way to reach a wider audience and build brand awareness. It’s also an excellent sales tool, allowing them to show off their products in real-time and make sales on the spot. It also helps retailers enhance the sales volume of underperforming products with the help of influencers, generating money and freeing up inventory.

For shoppers, Buywith is a convenient way to shop from the comfort of their own homes. They can watch live streams, interact with retailers, and purchase in one place. Plus, they can ensure they’re getting the best deal possible, as retailers often offer discounts and promotions during their live broadcasts. It allows shoppers to see products in real-time. Livestream shopping can help build trust between the shopper and the retailer.

The market opportunity for Livestream Shopping?

While the current eCommerce landscape dominated by the Amazons and eBays provide a convenient shopping experience, it can also be quite impersonal.

On the other hand, Livestream shopping offers a unique and engaging experience that allows shoppers to connect with brands and products more personally. This trend is quickly gaining popularity, especially among the gen z crowd, who is more used to interacting with brands and influencers through social media. Starting in China, the platform has stormed the traditional bastions of e-commerce and has become a stand-alone sales channel in less than five years. This was partly attributed to Covid-19 and became embedded in people’s shopping habits. 

According to Business Insider, the global livestream shopping market is expected to grow from $24.1 billion in 2020 to $106.4 billion by 2025, at a CAGR of 32.9%. According to Statista, the gross merchandise value (GMV) of live-streaming eCommerce in China reached 1.2 trillion yuan in 2020 from 20.9 billion yuan in 2017 and is expected to surpass 4.9 trillion yuan by 2023.

How to create your own Livestreaming Shopping Platform like buywith?

If you’re interested in creating your own livestream shopping platform, here’s a step-by-step guide to get you started.

1. Research the competition

Before you launch your own livestream shopping platform, it’s essential to understand the existing landscape.

• What platforms are already out there?
• What is the target market?
• How do they work?
• What are their strengths and weaknesses?

This research will not only help you avoid making the same mistakes as your competitors but also give you some ideas for how to improve upon their offerings.

2. Choose your niche

Once you have a good understanding of the competition, it’s time to choose your niche. What products or services do you want to sell on your platform? Who is your target audience? This is important because you want to be able to offer something unique that will attract users to your platform. Here are a few ideas:

Fashion: There are already a few fashion-focused livestream shopping platforms, but there’s always room for more. You could focus on a specific fashion style or target a specific demographic.

Beauty: Beauty is another popular category on livestream shopping platforms. Again, you could focus on a specific niche like skincare or haircare.

Home Goods: Home Goods is a popular category on Buywith. You could focus on selling home decor, furniture, or appliances.

3. Choose your platform

Now that you know what you want to sell and who you want to sell it to, it’s time to build your platform. There are a few things you need to consider when making this decision:

Ease of Use: Your live streaming platform should be easy to use for the customers and brands. It should have all the features you need and be user-friendly.

Cost: The platform you create should be affordable. You don’t want to spend a lot of money on a platform you’re not even sure will work for you.

Scalability: The platform you decide to build should be scalable. As your business grows, you should be able to add more products and categories easily.

Types of livestream shopping platforms

There are three types of livestream shopping platforms: those that focus on a specific product, those that focus on a specific retailer, and those that are generalists.

1. Product-focused livestream shopping platforms
2. Retailer-focused livestream shopping platforms
3. Generalist livestream shopping platforms

The type of platform you choose will depend on your needs and preferences. A generalist platform is probably the best choice for you if you’re looking for the widest selection of products. But if you have a specific retailer or product in mind, then a product- or retailer-focused platform might be a better fit.

 Whichever type of platform you choose, make sure it offers the following features:

 Search and discovery tools

 A robust chat system

 Live video and audio streaming

 Support for multiple languages

Integration with social media platforms

Choose a shopping platform

There are many different platforms you can use for your livestream shopping platform. Some of the most popular options include Shopify, BigCommerce, and WooCommerce. Each platform has pros and cons, so you’ll need to choose the one that’s right for you.

4. Create a mockup

Now that you are up to date with all the details about your platform, it’s time to create a mockup. This will help you visualize the user experience and ensure everything flows smoothly.

5. Develop the platform

Once your mockup is complete, it’s time to start developing the platform. This is where things can get technical, so if you’re not comfortable with coding, you may need to hire someone to do this for you. You need to ensure that your platform comes with:

– A user-friendly interface that makes it easy for viewers to browse and purchase products

– A wide selection of products, ranging from clothes to cosmetics to household items

– The ability to interact with sellers in real-time, making it easy to ask questions and get advice

– Live chat and Q&A functionality so viewers can ask questions and get real-time feedback from hosts

6. Choose a payment gateway

In order to accept payments on your livestream shopping platform, you’ll need to choose a payment gateway. Some of the most popular options include PayPal, Stripe, and Authorize.net. Once you’ve chosen your payment gateway, it’s time to set it up. This process will vary depending on the gateway you’re using.

7. Launch your platform

After all the hard work of research, development, and testing, it’s finally time to launch your platform.

8. Promote, promote, promote

Once your platform is up and running, it’s time to go all out on promotion. You’ll need to inform people about your platform and create a buzz. You can do this through social media, email marketing, or traditional advertising. Creating a community around your platform will help keep people coming back.

Another great way to promote your platform is by offering discounts or exclusive deals to those who shop on your site. With the right partners and a little bit of effort, you can make your platform the go-to destination for livestream shopping.

Cost to create a livestream shopping platform

The cost to create a livestream shopping platform will depend on the features you want to include and the amount of customization you need. Basic platforms can start at $5,000, while more complex systems can cost upwards of $50,000.

If you’re looking to create a livestream shopping platform similar to Buywith, the cost will be on the higher end. Buywith is a complex system that includes features like product recommendations and live chat. To recreate this level of functionality, you’ll need to work with a team of developers and designers.

The good news is that there are many ways to save money when creating a livestream shopping platform. One way is to use open-source software. This software is free to use and modify, saving you thousands of dollars in development costs.

Another way to save money is to use a platform like Shopify. Shopify is a powerful ecommerce platform that includes everything you need to create a livestream shopping experience. While it doesn’t have all the bells and whistles of Buywith, it’s a great option if you want to save money.

Creating a clone of Buywith will require some upfront investment regardless of the route you decide to take. But with the right team and approach, you can create a platform that’s just as popular and successful as the original.

Technical Stack of a Livestream Shopping Platform?

The technical stack of a livestream shopping platform like Buywith would likely include the following technologies:

-A live streaming platform: This could be something like YouTube Live, Facebook Live, or Twitch. The key here is that the platform must support live streaming.

-A video chat platform: This could be something like Skype, Google Hangouts, or Zoom. The key here is that the platform must support video chat.

-A payment gateway: This could be something like PayPal, Stripe, or Amazon Payments. The key here is that the platform must support payments.

-A CRM system: This could be something like Salesforce, HubSpot, or Infusionsoft. The key here is that the platform must support customer relationship management.

-An ecommerce platform: This could be something like Shopify, Magento, or WooCommerce. The key here is that the platform must support ecommerce.

Now that you understand the technology you’ll need to create a livestream shopping platform, let’s take a look at how to put it all together.

1. Choose your live streaming platform.
2. Choose your video chat platform.
3. Choose your payment gateway.
4. Choose your CRM system.
5. Choose your ecommerce platform.
6. Integrate your live streaming platform with your video chat platform.
7. Integrate your video chat platform with your payment gateway.
8. Integrate your payment gateway with your CRM system.
9. Integrate your CRM system with your ecommerce platform.
10. Test, test, and test again!

Should you consider a custom solution or an existing solution?

If you’re thinking about creating a livestream shopping platform, you may be wondering if you should create a custom solution or use existing solutions. Both approaches have pros and cons; the best option for your business will depend on your specific needs and goals.

Creating a custom solution from scratch gives you complete control over the design, development, and deployment process. You’ll have complete control over the features and functionality. You can tailor the platform to fit your exact business needs and goals. You’ll be able to brand the platform as your own, which can help you build trust and credibility with your customers. However, there are also some drawbacks to creating a custom livestream shopping platform. First, it can be expensive and time-consuming to develop a custom solution.

Alternatively, using existing solutions can save you time and money but may not offer the same level of customization and flexibility. If you want to utilize an existing solution, you can use a live streaming service like Twitch or YouTube and add a shopping cart feature to your platform. You can also add other features that Buywith offers, such as the ability to interact with retailers and make purchases.

Ultimately, the decision comes down to your specific needs and requirements. If you need a Livestream shopping platform that is highly customized and tailored to your exact specifications, then a custom solution may be the best option. However, if you’re looking for a quick and easy way to get started with Livestream shopping, then using existing solutions may be the better choice.

How Can Goodtroopers help you create a livestream shopping platform like BuyWith?

Goodtroopers has full-service app development teams that can help you bring your livestream shopping platform to life. We have teams of experienced developers who are well-versed in the latest live streaming and video chat technologies, as well as ecommerce platforms.

We can help you choose the right live streaming and video chat platform for your needs and integrate them with your payment gateway and CRM system. We can also help you develop a custom ecommerce solution for you or integrate your existing ecommerce platform with your livestream shopping platform.

If you’re looking to create the ultimate livestream shopping experience, Goodtroopers is the perfect partner for you. Contact us today to learn more about how we can help you.

What Kind of Livestream Platform can Goodtroopers help you create?

Our teams of developers have extensive experience in creating livestream shopping platforms and can deliver a high-quality solution that meets your needs. Our team of developers can create a clone of buywith or any other livestream platform and add additional features and functionality that you may need. We can develop a custom livestream shopping platform for you or integrate your existing ecommerce platform with a live streaming solution. We’ll work closely with you to understand your requirements and deliver a solution that meets your needs.

Some of the features livestream shopping platforms by our teams include are:

• Live chat and video chat capabilities
• Ecommerce integration
• Social media integration
• Payment gateway integration
• CRM system integration
• Custom development

Benefits of creating a livestream shopping platform with Goodtroopers?

– Team of experienced developers who are live streaming and ecommerce development experts.

– We can help you integrate your existing ecommerce platform with a live streaming solution.

– We offer affordable livestream shopping platform development services.

– Custom development services to create a livestream shopping platform from scratch according to your specific requirements.

– Our platforms are scalable and can easily expand to meet future needs.

Livestream shopping is the future of e-commerce, and Goodtroopers can help you get in on the action. With Goodtroopers on your side, you can be sure that your livestream shopping platform will be top-notch and give your customers the best possible experience.

If you are interested in creating a reliable and affordable livestream shopping platform similar to Buywith, don’t hesitate to get in touch with us today!

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