Video ads encourage purchase decisions more than radio, TV or print
The effect of online video on the purchase cycle appears to be strengthening, particularly in the apparel sector. According to a study conducted by Google and Compete, four in 10 online shoppers visited a store or retailer website as a result of watching apparel videos online.
Customer testimonials and reviews are the most commonly watched videos, but email marketing videos and consumer-generated videos are not far behind. Google and Compete’s study also indicates online shoppers are giving time and consideration to video ads while shopping for apparel online.
Apparel may still be a growing category in terms of creation of and consumer consumption of online video. The most commonly watched product videos are for the auto, consumer electronics and entertainment categories. According to a study by retail consultancy the e-tailing group and online video company Invodo, only 19% of US internet users watched clothing and accessories videos online at the end of last year. That number will likely grow as more retailers invest in online video to aid with product research and purchase decisions.
According to Russ Somers, VP of marketing at Invodo, video distribution is a big opportunity for apparel brands, particularly on product and brand pages. “Video is an asset that a retailer can use in many places—on the site, social and mobile channels, in-store and in email,” Somers told eMarketer. “Making full use of existing video assets is the high-return, low-investment option that retailers may miss.”
The e-tailing group/Invodo study indicates that half of US internet users had watched product videos on the homepage of a retailer, and 47% had watched them on product pages.
Although video appears to be a growing opportunity for online retailers, metrics, budgets and distribution may be barriers. “As it moves into the mainstream, producing the right quality video at scale for the web is increasingly important,” Somers said.
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Check out today’s other articles, “Big Data Has Arrived, but Executives See a Monetization Lag” and “Social Networks Reach Three in 10 Latin Americans.”