E-commerce conversion rates could be boosted by as much as 85% through effective use of video on retailer’s websites, according to new research.
Ahead of the major shopping event in November, a study from automated video automation specialist Viddyoze has revealed that businesses that sell online could see conversion rates soar through effective use of quality video content on their sites.
Video has become a vital conversion tool for e-commerce businesses in the absence of physical products, as an increasing number of stores adopt a “digital-first” retail offering.
This sentiment is echoed by consumers, with 44% claiming that they would purchase more products from an e-commerce website that features product videos.
Viddyoze co-founder David Chamberlain said: “Ahead of Black Friday – the busiest shopping period of the year – retailers need innovative ways to engage and convert customers in a saturated online marketplace.
“In the digital business landscape, and retail in particular, if a business is not using video effectively, they’re losing money, and we believe that no business should be excluded from offering this service during a period in which conversions and sales are so crucial.”
This year Black Friday takes place on November 23. Some analysts believe a recent slowdown in UK online sales growth is a sign that shoppers are holding out for Black Friday deals. In fact, last year John Lewis recorded its busiest ever single hour of online trading on Black Friday.
However, there has also been speculation that unseasonably heavy discounting by retailers online in recent weeks has taken the pressure off the shopping bonanza that is Black Friday and spread demand.