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How Live Shopping is Empowering D2C & E-commerce Brands in Germany

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How Live Shopping is Empowering D2C & E-commerce Brands in Germany


We all know how decreasing the session time of users, Low Conversion Rates, and Online shopping increasingly getting boring made it difficult for D2C and Ecommerce Brands to Sell online and generate revenue.

Consumers no longer find Ecommerce Shopping experiences exciting, as they used to a couple of years ago. There’s a lot of competition, and it is difficult to differentiate from competitors.

This happens because social media followers are not converting to customers, and there is no way to do Product Demos or New Launches on Website/App.

So how, can a D2C & Ecommerce brand in today’s age stand out from the crowd and boost sales? Let’s find out!

The growing popularity of digital-first brands driven by a focus on specific customer needs points to a huge market potential. In addition, the reason for the D2C boom is the ease of setting up an online store.

The D2C brands have brought a new perspective to traditional marketing tools by addressing shoppers directly. This has opened the way for various innovative products or services to reach a broader customer base.

The D2C brands provide superior service and build relationships with shoppers. These brands achieve their goals of driving customer loyalty by customizing content and ensuring transparency in their operations. This honest approach attracts customers, especially the young population, who prefer to stay long with brands that connect with them on a deeper level and communicate with them without any filters.

Reports suggest that D2C is a $12 billion market experiencing remarkable and rapid growth. Overcoming the challenge of technology has helped these brands strengthen their direct selling capabilities. Much like standalone, department, or multi-brand stores allow them to control the brand experience, the e-commerce space has allowed them to outline a unique story and experience.

Live Shopping has emerged as a powerful tool in the arsenal of direct-to-consumer (D2C) and e-commerce brands in Germany, revolutionizing how they connect with their customers and drive sales. This innovative approach combines the convenience of online shopping with the interactive and engaging experience of real-time video streaming, creating a dynamic platform for brands to showcase their products and engage directly with their audience.

Live Shopping helps increase Sales, Build Brand Awareness, and find new Customers. It’s a fun and entertaining way for people to learn about your products and your brand and get involved with what you do.

One of the key ways Live Shopping is empowering D2C and e-commerce brands in Germany is by providing a personalized and immersive shopping experience. Through Live Video Shopping, brands can demonstrate their products in action, highlighting key features and benefits in a way that static images or written descriptions cannot. This interactive format allows buyers to ask questions, seek advice, and receive real-time responses from the hosts or brand representatives, enhancing the overall shopping experience and building trust and loyalty.

Live Shopping enables brands to create a sense of urgency and exclusivity. By offering limited time promotions, flash sales, or exclusive discounts during live shows, brands can incentivize buyers to make immediate purchases, driving sales and increasing revenue. The real-time nature of Live Shopping creates a FOMO effect, encouraging buyers to take advantage of the unique opportunities presented during the live show.

Teleshopping channels were a major hit back in the ’90s, and it is getting digitized with Live Shopping.

The difference now is that the primary audience for Ecommerce live sales is the younger generation, aka Gen Z, who are known for their big pockets and habit of breaking the bank at any opportunity. Of course, even the next generation is not immune to temptation.

Live Commerce helps to enhance the overall shopping experience of an Ecommerce brand. This, in turn, bridges the gap and combines the personalized help of in-store shopping experiences with online convenience. Live Commerce is essentially similar to how influencers demonstrate or endorse a product or service. They usually have embedded videos or links to more information about measurements, sizes, looks, materials, etc.

Live Shopping offers a cost-effective solution for brands to showcase a wide range of products. Instead of investing in expensive physical showrooms, brands can leverage Live Shopping shows to showcase their product catalog. This allows them to display a larger variety of products, demonstrate different use cases, and cater to various customer preferences. It eliminates geographical limitations. It also enables brands to reach customers across Germany, even in remote areas, expanding their customer base and market reach.

With Live Commerce, interactive options are enhanced. Live Shopping allows buyers to comment while the Live Shopping show is going on. The Live Commerce experience is designed to mimic the in-store shopping experience. To know more, explore this link here.

Germany is a densely populated country with high internet penetration and millions of consumers who regularly shop online. It is one of the leading markets in Europe in terms of population, internet usage, and overall purchasing power.

The German e-commerce market in numbers:

80.69 million – Population

89% – Internet penetration

87% – Online shopping population

44 million – shoppers

Considering the above numbers, Live Stream Shopping offers huge potential, allowing Ecommerce and D2C Brands and retailers to open up additional channels to increase sales and attract new buyers.

As already mentioned, the dynamics of Live Shopping in Germany are only beginning to develop, despite the knowledge that a strategic focus on the customer and their wishes increases the conversion rate.

To know if Germany is a potential market for your business, you need to look at the market size and future scenario.

Statistics for Live Shopping in Germany

In 2020, Ecommerce in Germany was worth €83.3 billion, beating the average growth rate of 11.3% over the past three years. The significant year-on-year increase is projected to be prolonged, rising to more than €141 billion in 2024.

These statistics show that Germany is a strong and significant player in the European eCommerce industry. The growth of Ecommerce in Germany has more potential than in France.

With such promising numbers in e-commerce sales and online customer shopping, Germany should be on the list of priorities to consider for market expansion.

We analyzed five brands and started using Live Shopping as a sales channel in the summer of last year.

The use of shopping apps grew by almost 50 percent last year. Brands and online stores can use this development to connect directly with their shoppers through live, app-based shopping shows. About 70 percent of Live Shopping shows currently occur on brands’ and retailers’ websites.

In addition to boosting sales, Live Shopping also helps brands gather valuable customer insights and feedback. Through live interactions with shoppers, brands can understand their preferences, pain points, and shopping behaviors, allowing them to tailor their offerings and marketing strategies accordingly. This direct line of communication with the audience enables brands to build a loyal customer base and foster long-term relationships.

In conclusion, Live Shopping is empowering D2C and E-commerce Brands in Germany. They are achieving this by offering a personalized and interactive shopping experience. It drives sales, creates a sense of urgency, gathers valuable customer insights, and helps brands differentiate themselves in the market. Live Shopping is becoming a game-changer as the digital landscape continues to evolve. Brands are experiencing increased customer engagement, sales, and stronger buyer relationships.

Brands should start experimenting with Live Shopping. They should embrace this in 2023 to capitalize on the growth of the Ecommerce industry.

With the modernization of industries, the road to gaining buyer focus has also changed. Brands have become more focused on shopper engagement than sales. The value of Live Shopping is increasing every day. Brands are learning to become known in the market every day. By 2025, the global Live Commerce market share is expected to increase by a large number. This will be possible with the technology being adopted by brands.

Featured Image Credit: Cottonbro Studio; Pexels; Thank you!

Karishma Verma

Content writer with a passion to write for a variety of niches to broaden my horizon as a professional writer.

Politics

Fintech Kennek raises $12.5M seed round to digitize lending

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Google eyed for $2 billion Anthropic deal after major Amazon play


London-based fintech startup Kennek has raised $12.5 million in seed funding to expand its lending operating system.

According to an Oct. 10 tech.eu report, the round was led by HV Capital and included participation from Dutch Founders Fund, AlbionVC, FFVC, Plug & Play Ventures, and Syndicate One. Kennek offers software-as-a-service tools to help non-bank lenders streamline their operations using open banking, open finance, and payments.

The platform aims to automate time-consuming manual tasks and consolidate fragmented data to simplify lending. Xavier De Pauw, founder of Kennek said:

“Until kennek, lenders had to devote countless hours to menial operational tasks and deal with jumbled and hard-coded data – which makes every other part of lending a headache. As former lenders ourselves, we lived and breathed these frustrations, and built kennek to make them a thing of the past.”

The company said the latest funding round was oversubscribed and closed quickly despite the challenging fundraising environment. The new capital will be used to expand Kennek’s engineering team and strengthen its market position in the UK while exploring expansion into other European markets. Barbod Namini, Partner at lead investor HV Capital, commented on the investment:

“Kennek has developed an ambitious and genuinely unique proposition which we think can be the foundation of the entire alternative lending space. […] It is a complicated market and a solution that brings together all information and stakeholders onto a single platform is highly compelling for both lenders & the ecosystem as a whole.”

The fintech lending space has grown rapidly in recent years, but many lenders still rely on legacy systems and manual processes that limit efficiency and scalability. Kennek aims to leverage open banking and data integration to provide lenders with a more streamlined, automated lending experience.

The seed funding will allow the London-based startup to continue developing its platform and expanding its team to meet demand from non-bank lenders looking to digitize operations. Kennek’s focus on the UK and Europe also comes amid rising adoption of open banking and open finance in the regions.

Featured Image Credit: Photo from Kennek.io; Thank you!

Radek Zielinski

Radek Zielinski is an experienced technology and financial journalist with a passion for cybersecurity and futurology.

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Politics

Fortune 500’s race for generative AI breakthroughs

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Deanna Ritchie


As excitement around generative AI grows, Fortune 500 companies, including Goldman Sachs, are carefully examining the possible applications of this technology. A recent survey of U.S. executives indicated that 60% believe generative AI will substantially impact their businesses in the long term. However, they anticipate a one to two-year timeframe before implementing their initial solutions. This optimism stems from the potential of generative AI to revolutionize various aspects of businesses, from enhancing customer experiences to optimizing internal processes. In the short term, companies will likely focus on pilot projects and experimentation, gradually integrating generative AI into their operations as they witness its positive influence on efficiency and profitability.

Goldman Sachs’ Cautious Approach to Implementing Generative AI

In a recent interview, Goldman Sachs CIO Marco Argenti revealed that the firm has not yet implemented any generative AI use cases. Instead, the company focuses on experimentation and setting high standards before adopting the technology. Argenti recognized the desire for outcomes in areas like developer and operational efficiency but emphasized ensuring precision before putting experimental AI use cases into production.

According to Argenti, striking the right balance between driving innovation and maintaining accuracy is crucial for successfully integrating generative AI within the firm. Goldman Sachs intends to continue exploring this emerging technology’s potential benefits and applications while diligently assessing risks to ensure it meets the company’s stringent quality standards.

One possible application for Goldman Sachs is in software development, where the company has observed a 20-40% productivity increase during its trials. The goal is for 1,000 developers to utilize generative AI tools by year’s end. However, Argenti emphasized that a well-defined expectation of return on investment is necessary before fully integrating generative AI into production.

To achieve this, the company plans to implement a systematic and strategic approach to adopting generative AI, ensuring that it complements and enhances the skills of its developers. Additionally, Goldman Sachs intends to evaluate the long-term impact of generative AI on their software development processes and the overall quality of the applications being developed.

Goldman Sachs’ approach to AI implementation goes beyond merely executing models. The firm has created a platform encompassing technical, legal, and compliance assessments to filter out improper content and keep track of all interactions. This comprehensive system ensures seamless integration of artificial intelligence in operations while adhering to regulatory standards and maintaining client confidentiality. Moreover, the platform continuously improves and adapts its algorithms, allowing Goldman Sachs to stay at the forefront of technology and offer its clients the most efficient and secure services.

Featured Image Credit: Photo by Google DeepMind; Pexels; Thank you!

Deanna Ritchie

Managing Editor at ReadWrite

Deanna is the Managing Editor at ReadWrite. Previously she worked as the Editor in Chief for Startup Grind and has over 20+ years of experience in content management and content development.

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Politics

UK seizes web3 opportunity simplifying crypto regulations

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Deanna Ritchie


As Web3 companies increasingly consider leaving the United States due to regulatory ambiguity, the United Kingdom must simplify its cryptocurrency regulations to attract these businesses. The conservative think tank Policy Exchange recently released a report detailing ten suggestions for improving Web3 regulation in the country. Among the recommendations are reducing liability for token holders in decentralized autonomous organizations (DAOs) and encouraging the Financial Conduct Authority (FCA) to adopt alternative Know Your Customer (KYC) methodologies, such as digital identities and blockchain analytics tools. These suggestions aim to position the UK as a hub for Web3 innovation and attract blockchain-based businesses looking for a more conducive regulatory environment.

Streamlining Cryptocurrency Regulations for Innovation

To make it easier for emerging Web3 companies to navigate existing legal frameworks and contribute to the UK’s digital economy growth, the government must streamline cryptocurrency regulations and adopt forward-looking approaches. By making the regulatory landscape clear and straightforward, the UK can create an environment that fosters innovation, growth, and competitiveness in the global fintech industry.

The Policy Exchange report also recommends not weakening self-hosted wallets or treating proof-of-stake (PoS) services as financial services. This approach aims to protect the fundamental principles of decentralization and user autonomy while strongly emphasizing security and regulatory compliance. By doing so, the UK can nurture an environment that encourages innovation and the continued growth of blockchain technology.

Despite recent strict measures by UK authorities, such as His Majesty’s Treasury and the FCA, toward the digital assets sector, the proposed changes in the Policy Exchange report strive to make the UK a more attractive location for Web3 enterprises. By adopting these suggestions, the UK can demonstrate its commitment to fostering innovation in the rapidly evolving blockchain and cryptocurrency industries while ensuring a robust and transparent regulatory environment.

The ongoing uncertainty surrounding cryptocurrency regulations in various countries has prompted Web3 companies to explore alternative jurisdictions with more precise legal frameworks. As the United States grapples with regulatory ambiguity, the United Kingdom can position itself as a hub for Web3 innovation by simplifying and streamlining its cryptocurrency regulations.

Featured Image Credit: Photo by Jonathan Borba; Pexels; Thank you!

Deanna Ritchie

Managing Editor at ReadWrite

Deanna is the Managing Editor at ReadWrite. Previously she worked as the Editor in Chief for Startup Grind and has over 20+ years of experience in content management and content development.

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