A recent Whitepaper from the e-Tailing Group and Invodo indicates that consumer video consumption has steadily increased over the past years and will continue to do so. The e-Tailing Group Mystery Shopping review shows that in one short year there as been an 11% increase of vendors including video in their shopping experience.
If this isn’t a firm inclination all companies should consider making branded videos, I don’t know what is.
This Whitepaper also illustrated consumers that viewed product videos made them more confident in a purchase and less likely to return an item, a percentage that increased 5% in a year as well. Surveying more than 1,000 consumers, one in three watched video on a product page for most of the time when shown, a percentage increase of 27%, stated the report.
What about sharing?
The study also shows 41% of consumers were more likely to share product videos than any other content from a product. Have you ever mentioned to a friend, “Hey did you see that pre-roll ad for the new Taylor Swift music video? Amazing!” Doubtful. Shareable videos often work better than pre-roll formats that force somebody to watch a video.
When deciding what high end products to get such as electronics and major in-home appliances, consumers have found it very helpful to see a product video so they can better understand the merchandise before making that larger scale purchase. Think about your grandmother trying to buy a new vacuum, is she going to want to read let alone understand all the suction jargon? It’s best to just show her a video of what it’s really capable of.
If the video really wow’s her she’ll be emailing the book club before her afternoon programs even start.
Major findings of this study conclude that this growing trend of video viewership has multiplied due to product videos not only giving the consumer better, more interactive information about the product, rather than focusing on the “branding” experience, but also allowing for immediate social sharing with just a click.
Customer engagement is also greater on retail sites with video as opposed to out dated advertising and banner-driven models, keeping consumers on websites longer and more often through the ever handy usage of portable devices such as smartphones and tablets playing a significant role in this growing trend.