S’pore’s First Livestreaming Shopping App Shopavision Reinvents Retail

It was during one of her trips to China that Rachel Pang, 37, discovered the growing trend of direct commerce in the world’s most populous country.

“I travel quite often to China and observe how live streaming is done there and on platforms like Taobao Live,” said Rachel, Founder and CEO of Shopavision.

The Singaporean was amazed at the new concept of retail – from the way they built their online commerce infrastructure and business model, to the way local vendors run all of their online business.

Even farms in the countryside could sell their produce instantly through mobile live streaming.

– Rachel Pang, Founder and CEO of Shopavision

With the success of home shopping TV networks in the United States and other countries, she has realized that live mobile commerce is an accessible, affordable, and sustainable way to drive marketing and sales.

This led her to develop Singapore’s first live streaming-focused shopping platform, Shopavision.

S’pore’s First Live Shopping App

Shopavision had already been in the works for a year, but Rachel felt that the launch had to be pushed forward.

When they made the decision to start making Shopavision, live streaming was relatively new to Singapore and most people certainly didn’t know it at all.

With the circuit breaker set in place and consumers stranded at home and shopping online, there was no better time to launch a direct shopping service.

Rachel Pang and Melissa Jane Ferosha shopavision
Founder Rachel Pang and Head of Sales and Marketing Melissa Jane Ferosha / Image credit: Shopavision Facebook page

“Covid-19 was a surprise and we wished we could accelerate our development of the platform, but we had limited resources and Covid-19 related restrictions to achieve this,” said Rachel.

“Meanwhile, we know that many businesses are suffering and we have started providing advice and hosting live broadcasts to help traders since July.”

A front-end consumer app, Shopavision is designed with a business backend system, integrated with live video technology, e-commerce capabilities, customer profiling, data analytics, and native payments.

Shopavision application
Shopavision app / Image credit: Portfolio Mag

Shopavision merchants will receive training on digitization and integrate online commerce into their business.

They also offer live marketing and advertising services, such as live show production and management, host engagement, and featured media reviews.

The online shopping industry is new and we are certainly one of the early players. In fact, we want to lead the way as the first and only dedicated live shopping platform in Singapore.

– Rachel Pang, Founder and CEO of Shopavision

Sales of $ 15,000 on 3 live broadcasts

Rachel explained that she had worked with a traditional crab farm and a fish farm to reach consumers on Shopavision’s Facebook page.

Previously, the farms operated only on a B2B model where they supplied seafood to hotels and restaurants.

However, Covid-19 affected their activity. They wanted to reach consumers directly and therefore turned to the realization of their first livestream.

They raked in around S $ 15,000 in combined sales – over three live streaming sessions lasting six hours.

During their three months of pre-launch marketing, Shopavision did a total of 40 live shows (with a mix of content and livesell), totaling around 400,000 views and generating over $ 60,000 in sales.

They have over 200 new paying customers in the past two months and over 32,000 followers on their Facebook page.

The most popular videos on their page are Live Seafood Sales which generated an average of 23,000 video views.

They also sell a range of other products ranging from bak kut teh snacks to mala noodles.

Shopavision
Image credit: Shopavision Facebook page

Shopavision has built a community of live broadcast hosts and has been doing live broadcasts on Shopavision Facebook since June and plans to officially launch by the end of this year.

How Shopavision compares to other platforms

Facebook Live is the most accessible means of live streaming today, explained Rachel.

However, this is a moment-sharing feature that is not designed to facilitate commerce and does not support a company’s direct selling needs such as sales orders, customer data, and more. payments.

Businesses are also limited by the social platform’s control and algorithm, she said.

Facebook Live
Facebook Live / Image Credit: TechCrunch

“Likewise for Instagram Live, it works well for outreach and awareness of generic live content, but it’s not aimed at targeted and localized live streaming businesses,” Rachel added.

Shopee Live is also just a show-type feature.

“It is still a walled and closed garden for their own selected merchants only. As an e-commerce giant, they are without a doubt our closest competitor. “

Rachel is convinced that despite being a new startup, their long-standing research and market observation can give them an edge and refine Shopavision with a suite of functions to meet the live streaming needs of traders.

Bootstrap and live trading are a new model

Rachel has currently run a marketing agency, OC Group, with her husband, for at least 10 years.

She is always on the lookout for new marketing solutions for her clients, as well as for marketers and business leaders.

However, it was not all easy as she had a not so easy childhood.

“My family is not well off, so I decided not to take my parents’ pocket money when I finished high school.”

store
Behind the scenes / Image credit: Shopavision Facebook page

She started working part time in retail while still in school and rose through the ranks to become a manager at just 17.

Later, she created the digital marketing agency with her husband. At the time, they were “one of the pioneering agencies in Singapore to have a full digital team” with clients in the South East Asia region.

She suggests that they “embarked on the construction of Shopavision over the past year juggling [the] the work of the agency to support [their] overheads ”.

They worked around the clock to run both businesses while streamlining the team and resources. They are also looking to research their first startup investment.

As a new product / technology platform, we would be lying if we said that we did not encounter any difficulties while researching and developing our system.

There are hardly any plugins or examples readily available in the market. Integrating payments with partners has not been the easiest, as direct commerce is an unprecedented new model in Singapore.

– Rachel Pang, Founder and CEO of Shopavision

Winning the interest of Razer CEO

Grab, the cycling giant, has come on board as an e-wallet partner with GrabPay.

Looking back, Rachel said that “it was intimidating to be a little fry approaching a great app for a partnership” and that she “half expected not to get a response.”

Managing Director of Min-Liang Tan Razer
Min-Liang Tan / Image Credit: Razer / Facebook

As for Razer Pay, she shared that Shopavision’s pre-launch marketing work caught the attention of Min-Liang Tan, CEO of Razer, and he got in touch with them.

In what Rachel called “a real honor”, the two teams are working on the integration of Razer Pay on the Shopavision platform.

Popular with seafood, cosmetics And headphones

According to findings commissioned by Shopavision, 15% of Singaporeans are turning to live streaming to purchase popular products such as fresh seafood, lipsticks and headphones.

Selling seafood directly
Live Seafood Selling / Image Credit: Asia News Today

Generation Z is more likely to jump on the bandwagon, followed by Generation Y. Four in five respondents aged 18 to 24 say they are likely to purchase products via live streaming.

Additionally, 55.4 percent of this age group purchase products through live streaming.

The data comes from 5,200 online conversations from May to June 2020.

We are still far behind China – what needs to be done?

According to a recent study by Shopavision, Singapore is adopting live streaming more slowly than countries like China and the United States.

Only 15% of Singaporeans consume live streamed content, compared to 90% in China and 38% in America.

It took China four to six years for direct trading to become the norm. Likewise, Singapore is still in its infancy.

– Rachel Pang, Founder and CEO of Shopavision

Taobao Live Stream
Live stream from Taobao / Image credit: TechNode

The COVID-19 pandemic is a catalyst and there is a greater awareness of what live streaming is now.

The accessibility and credibility of live shopping platforms for end consumers, cashless payment options and government support for us as a new startup and for businesses to embrace live streaming would make a difference. difference in adoption rate.

– Rachel Pang, Founder and CEO of Shopavision

“We want to be the gold standard for direct shopping in Southeast Asia,” added Rachel.

They plan to smoothly launch the app in the fourth quarter of this year and will continue to improve the app with more immersive InStream features and smart data.

“Within a year, we aim to enter a new market and make direct cross-border trade possible.”

For its foray into the SEA, they eye Malaysia, Indonesia, the Philippines and Thailand.

Featured Image Credit: Shopavision Facebook Page

Our sincere thanks to
Source link

Jothi Venkat

Leave a Reply

Your email address will not be published. Required fields are marked *