28 July 2020
What does the launch of Google’s ShopLoop mean for marketers?
Extracts of this post were originally published by Econsultancy here.
The launch of Shoploop is Google’s attempt to keep consumers inside its ecosystem to become aware, explore, create interest and convert customers – all inside Google platforms, rather than have them jump across multiple platforms.
Typically, consumers research products across social media, YouTube, branded websites, eCommerce platforms before making a purchase. But with Shoploop, they would be able to find all the relevant content inside the same platform, from checking out products they like to completing the transaction.
Is this new? Not really. Amazon is trying out something similar in the US called Amazon Live. The fact that this hasn’t extended to other markets suggests it is a slow progress.
That said, Chinese eCommerce platforms have seen huge success with live streaming and selling. For instance, last year on Single’s day, Taobao Live, the live-streaming unit of Alibaba, recorded sales of RMB 20 billion ($2.85 billion), accounting for around 7.5% of the group’s overall RMB 268.4 billion in sales. As a result, others are jumping on the band wagon including Facebook with Facebook Live, Instagram Checkout and Facebook Shops.
So, what does this all mean?
It’s about collapsing the purchase funnel to ensure customers don’t jump from one ecosystem to another. This consolidation or collapsing is set to continue between giants like Facebook, Google and Amazon to guard their users and have all the behavioural insights that come with it.
To ensure brands are prepared they should be thinking about the following:
- Do they have the right/relevant products – with the right content, price points for this channel?
- Can they sustain interest with new content creation or influence content to be created for them?
- Do they have the right infrastructure to support live shopping experience – from content to payment solutions to logistics and delivery mechanisms?
- Do they have a data strategy in place to assimilate insights, learn and scale this to make a significant impact
Saradha Sethuraman, eCommerce Business Director