​The COVID-19 pandemic created unprecedented challenges for retailers and manufacturers, while also causing unexpected changes in customer behavior. Customers are now more conscious about their purchases and conduct detailed research before making a decision especially when it comes to high-value items. Since the onset of the pandemic, customers’ purchase channel preferences have evolved.

The term live commerce was first coined in 2016 when the Chinese retail giant, Alibaba, hosted a historic first livestream to sell products online. This relatively unique approach opened different avenues for consumer value, quick conversions, and delivering brand-owned experiences, redefining the eCommerce landscape altogether.

Retail has undergone a significant transformation with businesses putting customers at the epicenter of the shopping experience. For a long time, businesses in this space relied on the winning formula of speed, convenience, relevancy, and product availability. However, to keep up with the rapid pace of change over the last year, companies that relied on traditional sales channels had to deal with a host of new challenges and restricted opportunities, pushing many of them towards direct-to-consumer eCommerce.

Sustainable retail success requires a thorough understanding of the journey that your customers embark on, from initial interest and product prospecting to post-sale support, and every step along the way.

The retail industry has undergone major changes over the years but the magnitude of these changes was never so pronounced before the world got hit by the COVID-19 pandemic. In the wake of the ensuing restrictions and lasting changes in consumer behavior, many retailers are realizing the potential of digital commerce and expanding new sales channels to stay afloat in these unprecedented times.