Retail digitainment takes off as sellers go online

Some companies have been investing in their own in-house live streamers.

In their bid to remain competitive during the pandemic, retailers in Singapore have increasingly adopted retail digitainment, which refers to content driven by live streamers who entertain and interact with their followers during the process of selling their products, according to a report from Knight Frank.

On 5 May, the Infocomm Media Development Authority (IMDA), in partnership with live stream auctioneer Max Kee from Lian Huat Seafood, launched Tekka Online Market, which allows sellers to showcase their fresh produce via live streaming to interested shoppers.

Meanwhile, the Shilin Night Market returned to Singapore for a second time in June with a virtual event, branded as “Digital Shilin Singapore 2020,” letting festival-goers access their favourite grub without the hassle of wearing masks.

Another example of businesses leveraging digitainment is Shopee Live, which offers tools to engage with their customers via live stream features with full control of the engagement process to promote their products, interact with their audience and encourage purchases.

With the rising popularity of retail digitainment, Singapore’s schools, such as Nanyang Polytechnic’s Singapore Institute of Retail Studies (NYP-SIRS) and the Singapore Media Academy (SMA), are launching a joint Professional Certificate in Digital Retail Entertainment.

Knight Frank noted that companies have been increasingly looking to hire influencers or opinion leaders to sell their products online, with some investing in their own in-house ecosystem of live streamers to create a hybrid online selling platform.

“Brands that can entertain and interact effectively with their customers online through entertaining and witty banter, livestream comments and information- sharing, are perceived to be more authentic and in tune with their followers as compared to those which use digital platforms purely for commercial transactions,” the report stated.

Knight Frank urged retailers to transform their businesses with technology and digitalisation to stay relevant in the new retail landscape, as the pandemic became a catalyst for retailers to explore ways to digitalise the traditional shopping experience.

“Businesses that have yet to adopt technology in their operations must quickly change their mindsets to fully embrace the new digital economy. Otherwise, such establishments will risk facing the same fate as the floppy disk—becoming obsolete,” it said.