STOCKHOLM, Oct. 8, 2020
Deal expands reach of Live Video Shopping to a new vertical, enables retailers to connect digital and physical worlds to drive customer engagement and sales
STOCKHOLM, Oct. 8, 2020 /PRNewswire/ -- Interactive live video streaming provider Bambuser and AMF Fastigheter, one of Sweden's largest real estate companies, today announced a strategic partnership to bring Live Video Shopping into physical stores to link in-store salespeople and experts to customers at home for an interactive and personal experience.
This first-of-its-kind interactive concept will make physical stores more experience-based using innovative technical solutions to strengthen retail both online and offline and open up new opportunities for Bambuser to expand into physical stores and omnichannel players.
This exciting partnership follows a successful pilot initiative with shopping center MOOD Stockholm, which launched a live broadcast fashion and lifestyle series that offered both shopping and inspiration by lifting brands and profiles operating in the shopping district.
Research shows that an omnichannel retail offering creates a `halo effect' for retailers with physical stores increasing online sales up to 110%, which drops off if physical stores are closed. However, in the shadow of the pandemic, e-commerce has created new demands and challenges for physical premises. Now, in order to differentiate themselves from e-commerce, retailers need to conceptualize their stores differently to create an experience for the consumer using digital advancements.
The value that many retailers deliver is the specialist experience they provide in-store. With the pandemic came the opportunity to realize this digitally. By utilizing this technology, a salesperson in a store can reach customers all over the country, providing a specialized and tailored experience digitally and increasing digital foot traffic.
"Retail is undergoing the biggest transformation in modern history. This is partly due to digitalization, a change in customer behavior and new target groups that are growing in a new digital landscape. The physical store is very important, but its traditional role as only a sales channel is already over" says Maryam Ghahremani, CEO at Bambuser.
She continues, "Live Video Shopping is a textbook example of how online and offline can live in symbiosis and a perfect way to connect the various channels seamlessly. It can contribute to increased reach by making staff available to a digital audience, and it can just as easily work to increase the attractiveness of a physical location."
"It feels great to be able to present our partnership with Bambuser. At AMF Fastigheter, we have a history of exploring new aspects of the physical customer experience, while Bambuser is at the forefront of the digital customer meeting. Together, we hope to blur the boundaries between digital and physical commerce and explore tomorrow's encounters between customers, brands and shopping. Something we got a taste of this summer when we launched Summer MOOD TV. I look forward to telling you more about the plans soon," says Annelie Gullström, Head of New Business and Innovation at AMF Fastigheter.
This is information that Bambuser AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was sent for publication, through the agency of the contact persons set out above, on October 8, 2020.
Maryam Ghahremani, CEO | +46 8 400 160 02 | email@example.com or visit bambuser.com/ir
Erik Penser Bank AB | +46 8 463 83 00 | firstname.lastname@example.org
Bambuser is a software company specializing in interactive live video streaming. The Company's primary product, Live Video Shopping, is a cloud-based software solution that is used by customers such as global e-commerce and retail businesses to host live shopping experiences on websites, mobile apps and social media. Bambuser was founded in 2007 and has its headquarters in Stockholm.
AMF Fastigheter is one of Sweden's largest property investment and development companies, focusing mainly on urban commercial office and retail premises. AMF Fastigheter, which is a wholly-owned subsidiary of the insurance company AMF, owns several shopping centers including Gallerian, MOOD Stockholm, Fältöversten, Västermalmsgallerian and Ringen Centrum with a property portfolio totaling a market value of approximately $8.2 billion (SEK 73 billion).
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Annelie & Maryam