Liquid Studio Accenture Live-commerce Sales Management Solution

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2021: Announcement of live-commerce sales management solution

Accenture's Liquid Studio Innovation Workshop has developed a solution to help retailers manage live-commerce sales more efficiently. This was announced on June 16, 2021 in Accenture.

The electronic commerce format that originated in Asia called live-commerce (also called live stream shopping) began to gain popularity during the self-isolation regime. This is a native promotion format when bloggers offer to buy goods or services during streaming.

Live stream shopping is becoming a point of growth in sales and profit in e-commerce, developing both on specialized marketplaces and on the platforms Facebook, YouTube, Instagram and Twitch. This format is especially relevant for Generation Z, which decides to buy based on recommendations much more often: in 44% of cases (the average for all ages is 26%). In China, at the end of 2020, live-commerce turnover was projected to reach $170 million.

"Despite the growing popularity of e-commerce, the problem of evaluating sales performance remains urgent for retailers. They see only overall sales figures, but they cannot manage the process, evaluate the effectiveness of campaigns individually and the emotional engagement of customers. The developed solution helps solve this problem, "said Arseny Kondratyev, head of Liquid Studio Accenture in Russia.

The solution developed by Liquid Studio can analyze the results of each stream in terms of its impact on sales. It is based on natural language processing (NLP) technologies and allows you to use video stream, audio stream and stream chat data. In addition to directly replicating users, the tool evaluates their emotional response: for the system, each sign is informative, be it a punctuation mark or emoji.

With this tool, retailers will be able to test marketing hypotheses and get information about the real impact of live streams on the company's sales. If users of the stream are registered on the translation platform, they will be correlated with customer profiles in the CRM-system of the brand, which can become the main one for building personalized relationships with customers and creating individual applications.