Malaysian App For Livstream E-Commcerce Selling & Shopping
E-commerce is still an ever-changing landscape. The most common version we’re used to is the type where we already have something to buy in mind, and we head straight to the website to buy it.
Most e-commerce giants are responding to it.
But what if we start to have sites that cater specifically to another guy? A similar experience to the bazaar experience with live interactions with merchants, but virtually?
Floop is a Malaysian startup that is gearing up to take the plunge and caters to the buying crowd based on their emotional needs and wants before trying to logically justify their purchase.
Think back to those times when you went to a bazaar and saw merchants promoting their products in person.
It grabs your attention and you walk up to it to see more of it, and you might even end up buying it.
This is what Floop tries to recreate to some extent, by creating a site that allows marketers to market their products live online.
“But how is that different from the merchants who already sell on FB Live?”, You might ask.
We asked this question to Koi Hann Yung (Hann), founder of Floop.
An improved alternative to FB Live
“With FB Live, buyers have to go through a very manual and inconvenient path to purchase an item,” he replied.
“Without the direct payment functionality that we offer on Floop, sellers risk losing customers because passionate buyers are not able to make their purchases instantly.”
Floop implements a payment system on its own site which Hann described as “such a simple system that even a non-technician will be able to operate”.
However, I can’t help but think that Facebook still gives merchants the benefits of being a free service and allowing easy access to the existing fan base on their own page.
On Floop, they would have to pay a small fee for each trade made (the actual percentage of which is still being decided).
As for the other benefit I thought FB Live had over Floop, Hann clarified:
A major selling point for many existing FB Live sellers is the fact that our platform allows them to sync their live feeds across multiple social media channels, so they don’t have to abandon their current buyers on Facebook. .
Koi Hann Yung, founder of Floop
As a value added feature, sellers on Floop will also be able to view their sales statistics as the team will compile easy-to-read data reports for them.
Hann and his team have been busy acquiring merchants, and he said more than 300 of them have now signed up to be onboarded once Floop launches in Q4 2020 after its pilot testing.
Recreate the live shopping experience to some extent
From a customer’s perspective, Floop allows them to ask concerns and questions and get answers on-the-spot during a merchant’s product demo Q&A session.
This is something I would appreciate as a buyer, as I often have doubts about making a purchase despite the ratings and reviews accompanied by photos.
Sometimes the pictures don’t even do the products justice.
I usually end up stalking the product offline to really get a feel for it before I decide to buy it (or not).
While Floop’s live ecommerce can’t exactly replicate this experience, seeing the merchant’s demonstrated use of the product would be the best thing for me.
“This interaction touches your emotional needs, and we at Floop believe it’s really necessary in today’s online shopping experience,” Hann explained.
Customers can also checkout and make their purchases while the livestream continues to play in the background and benefit from a loyalty program from Floop.
To increase their user base, Floop has an agent program for those who wish to earn passive income by integrating both customers and suppliers.
“Another strategy we use is the integration of influencers that sellers can hire to help promote and live out their products,” Hann said.
“We’ve narrowed it down to those strategies to help us form a community that all parties can benefit from, whether it’s the seller, the buyer, the agent or the developer.”
Start small, dream big
As it is still in its early stages, the only revenue stream Floop will have at this time is transaction fees.
“The other revenue streams that we anticipate further down include ad revenue and commissions, although these will come at a much later date once the community is large enough,” Hann said.
He anticipates that they will still have to conduct experiments to further determine the market suitability of the product, but added, “We are confident that Floop will be the next game changer as we focus a lot on consumer needs and follow the trend. constantly changing trend. “
To further add value to the site, he shared the intention to create his own e-wallet system to facilitate their cash flow.
I guess it would be difficult to convince clients to adopt another e-wallet, but I’d be interested to see Floop take it down.
“Currently, we are focusing only on the Malaysian market, and mainly on FMCG and health and beauty products, followed by other categories,” Hann said, adding that they would like to expand into the larger Southeast Asia over the next 2 years.
However, Floop isn’t the only app in this space that offers live shopping, as Lazada added such a feature in 2018 and Shopee quickly jumped on the trend.
Still, this is just a complementary feature for the two e-commerce giants, and not the core of their business model.
So Floop may have a better chance of grabbing a share of the multibillion dollar revenue that live shopping is expected to generate in 2020.
- You can read more about Floop here.
- You can read more e-commerce related content here.
Featured Image Credit: Koi Hann Yung, Founder of Floop
Our sincere thanks to