Retailers can gain a number of different benefits by integrating video content into their e-commerce efforts.
According to a new global consumer survey from online video platform provider Brightcove, nearly half (48%) of those surveyed reported that videos increase confidence in their online purchase. Slightly more than half (51%) of respondents said video content produced by other customers is the most trustworthy type of video,
Meanwhile, seven in ten respondents said that having access to video in an online purchase helps them to better understand the product or experience they are purchasing. The product categories the highest percentage of respondents cited as being enhanced by online video access are consumer electronics (81%), toys and games (80%), and DIY (tools/materials) (78%). Conversely, the product category cited by the lowest percentage of respondents (38%) was grocery (food/beverage).
The survey also reveals that videos must be responsive and load instantly on any device in order to keep the attention of the viewer. While 91% of respondents feel more confident in a purchase made on a brand’s website or marketplace than on social media, nearly half (46%) of respondents report that they will wait no longer than two seconds for a video to load on a brand’s website, and 64% will wait no longer than four seconds.
Other interesting results include:
36% of respondents feel that video is most helpful in discovering new products as they shop online.
In an e-commerce setting, the most common types of video being watched by respondents are product demonstration/how-to videos (54%) and product overview/detail videos (45%).
One in five respondents has attended a livestream or virtual shopping experience, and over half of this group have made a purchase as a result of attending. Respondents who spend the most online are even more engaged with live events. Over one-quarter of those respondents have attended a live shopping experience, and 80% of this group has made a purchase.
Surveys show livestream, video hold promise for e-commerce
According to a recent study by social media management solutions provider Sprout Social, which surveyed of 1,000 U.S. consumers about how they plan to perform social shopping in 2022, 61% of respondents watch livestreams and 53% want to watch them more in 2022. In addition, 35% of respondents to this survey comment or engage in livestreams, and 33% want to do this more in 2022.
And according to a recent consumer survey from CM Group, Gen Z is more dependent on social media as an informational source than other generations. Almost half (49%) of Gen Z respondents say they obtain their news and information from YouTube, compared to 37% of millennial respondents.
In addition, 23% of Gen Z respondents share news and information on TikTok, twice that of respondents from any other generation. CM Group advises that delivering highly engaging messaging, such as personalized videos embedded within a newsletter or a livestream event on TikTok, is much more interesting to Gen Z consumers than to consumers in older generations.
Brightcove and Ascend2 surveyed 1,346 consumers age 18-65 across the North America, Europe, and Asia-Paciific regions.