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3 reasons to invest in shoppable video this year

 

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Shoppable or interactive video is taking off with retailers seeing a dramatic lift in direct sales through interactive campaigns. As retailers look for more ways to boost customer experience and engagement, shoppable video will become more popular across all platforms.

In an Australian publishing first, ELLE.com.au recently launched a series of interactive shoppable videos where consumers can click and buy direct from the video through a retailer’s online store.

ELLE’s editorial team direct and feature in these videos wearing their favourite pieces from the season based on what is on trend, easy-to-wear and affordable.

Investing in shoppable video will help you remain competitive and at the forefront of the next wave of the omnichannel shopping journey. Here are some insights that could help your brand stay relevant and fend off competition from international players.

1. Give your customers an enjoyable experience

Shoppable video gives your customers and followers an immersive brand experience and a 360-degree view of  product that a still image on your website or glossy advertisement in a fashion magazine can’t match. Audiences can interact with certain parts of the video and purchase directly within the video environment.

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A key feature of the technology is that consumers can transact securely without being directed away from the video content: after the purchase is made they can continue watching the video and go on to purchase multiple products without the distraction of switching between apps or screens.

Interactive video enables the viewer to select their own pathway or journey and have complete control over the experience—think of the old ‘choose your own adventure’ books.

2. Boost sales and track ROI

Research from Hyperfine Media found that a massive 64 per cent of customers are more likely to buy a product online after watching a video. The power for brands is in being able to engage audiences in real-time interactions.

For many brands, it has been difficult to track ROI off the back of video production and amplification spends. Interactive video has solved this by allowing brands to track conversions directly attributed by the video.

As the tools and skills to produce video become more affordable and accessible, shoppable video will secure an even larger share of marketing dollars. Many brands are already investing in video for use on social media and incorporating shoppable technology will only boost the return on investment.

International fashion brand Ted Baker launched its first three-minute shoppable video late last year, directed by Guy Ritchie, and followed up with a shoppable holiday season video that it attributes $75,000 in sales to in just one week.

3. Great content for your social platforms

It’s not just retailers like Ted Baker that are investing in shoppable video, social platforms like Pinterest and YouTube have launched ‘click-to-buy’ functions and Facebook is rumoured to be exploring shoppable video ads.

With Facebook’s recent announcement that it will evolve into a ‘video-first’ company, it is predicted that within five years, most of what people consume and potentially how they want to shop online will be video.

Aussie retailers who invest in shoppable video as a core element of their customer and social approach this year will gain a real competitive advantage.

shoppable videoDaniel Littlepage is the managing director Australia & New Zealand at 90 Seconds.

 

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