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Shoppable Video: The New Way of Driving Revenue in eCommerce 06 April 2021

 

Nothing creates a more enhancing in-shopping experience for online shoppers than shoppable videos! This is the reason why video ecommerce is trending at a raging speed. Findings of a recent survey has shown that online retailers featuring video on their sites help boost their customer browsing time by 340%. As brands become increasingly aware of the power of shoppable video to drive more revenue and increase brand engagement, here’s why you should invest in video ecommerce and its various advantages in driving revenue.

 

What are Shoppable Videos?

It often happens that you are browsing through products on an ecommerce website and suddenly land on a video ad displaying an attractive dress or footwear and you wish to buy the same product that the model is wearing. What if you could pause the video, tap on the product, and proceed to buy them? Well, actually you could, through shoppable video!

Shoppable video is a type of video content or advertisement of a particular product put up on sale on an online ecommerce store. It attracts online shoppers and helps them watch a product demo of a particular product (be it garments, accessories, electronics, etc) and directs them to the product pages. They are clickable videos and when a viewer clicks on it, they are directed to another page containing information such as:

  • Reviews
  • Product details
  • Buying details
  • Contact information

A clear indicator of video commerce’s rising importance is Amazon’s launch of a commerce-oriented video hub. The retail giant has devoted a complete “Watch & Shop” section on its homepage split into categories such as Home and Food. This exclusive section delivers on its commerce-driven objectives, containing only videos, and links to product pages.

According to Gartner, brands using video on their homepage have increased by 28%.

 

Why Do Shoppable Videos Matter?

Shoppable videos have elevated the entire online shopping experience to a whole new level. Since these video experiences meet the viewers where they are, they have the potential to unlock valuable user data, and empower brands to connect with consumers through more meaningful video interactions.

Did you know that ecommerce video increases add-to-cart-conversion by 37%?

With the rise of technology, online retail brands are bringing life to products by combining video with commerce. Retailers and marketers are finding shoppable videos to be a personalized customer engagement strategy that creates a better user experience for shoppers by guiding them in their decision-making process.

By adding calls-to-action and add-to-cart functionality, you can increase cart value and ultimately, convert more viewers into buyers- thereby boosting revenue. The power of shoppable video allows for a more demonstrative explanation of both the story and the urgency of the offer. 

 

How Shoppable Video Drives Revenue?

creating hotspot

As ecommerce video continues to play a major role in today’s customer life cycle, it’s more important than ever that brands understand how to use video assets to drive brand engagement and increase online sales. Here are the reasons why your ecommerce business should incorporate shoppable videos to drive revenue.

Muvi Kart lets you build your online ecommerce store instantly. Also it supports display images and videos of multiple products to help guide your customers to make a more informed shopping decision.

 

1. Build Brand Loyalty

 

Ecommerce store owners struggle to keep customers engaged. By incorporating videos in ecommerce, store owners not only manage to attract but also offer viewers with an added user experience. By uploading the video content on the website, customers can watch real-life use cases of the product in detail. When the customer experience improves, so do sales, conversions, and thus brand loyalty. It also encourages the consumer to take a more active role in the brand experience. 

 

2. More Engagement

 

Interactive video helps increase customer engagement. Including videos with advanced technology for your eCommerce platform enhances customer engagement and leads to better user experience. Videos can give an engaging brand experience with a storytelling approach creating an emotional connection with customers. 

 

3. Improved Conversions

 

Ecommerce store owners using interactive shoppable video search results, see an increase in conversion rates. Clickable videos with direct ‘add-to-cart’ functionality drive conversions without hampering the overall shopping experience for consumers.

Puma’s shoppable video featuring Liverpool footballer Adam Lallana garnered conversion rates of 6.9%, and earnings per click that were 24 times higher than the e-commerce industry standard.

 

Things to Consider for Ecommerce Vendors/Online Retailers:

1. Make sure your customers know that the video contains clickable content. Are the hotspots clearly indicated?

 

2. Determine exactly how many hotspots are required for the video. Too many may make the video clunky and cluttered, and too few may not fully engage consumers. In your planning, try to determine the right number for your brand.

 

3. Online brands also need to consider the time factor of doing regular quality assurance checks as shoppable videos can get buggy.

 

Leading Brands using Shoppable Video on their Homepage- Puma, Nike, Ikea, Revlon, Adidas, Ted Baker, H&M

 

How can Muvi Kart Help?

Muvi Kart is an added online selling feature to your Muvi powered video platform that provides all the features and facilities of a standard eCommerce builder to let you launch your own Physical product store alongside your videos within a few minutes. You can sell anything from DVDs to T-shirts and watches to footwear. 

 

Wrapping Up,

In today’s growing ecommerce industry, video is a powerful tool for boosting sales and engaging customers on a deep, personal level. By incorporating video into your strategy, you can get viewers closer to an in-person shopping experience at home.

At Muvi, you can build your online ecommerce store in a jiffy and add shoppable videos to elevate the overall shopping experience of your customers to a whole new level! 

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Sreejata Basu
Sreejata is Senior Content Writer for Muvi’s Marketing unit. She is a passionate writer with a background in English Literature and music. By week Sreejata spends her time in the corporate world of Muvi, but on weekends she likes to take short hiking trips, watch movies and read interesting travelogues.

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