Online shoppers are flocking to retailer websites: Annual video views increased 42% in 2015 according to a survey of retailer clients by Invodo Inc., an online video marketing firm.
“2015 was a watershed year for video,” Invodo’s vice president of marketing Fred Waugh told attendees last week at the 2016 Internet Retailer Conference & Exhibition in Chicago. And 14% of online retail sales were tied to videos last year, an Invodo benchmarking report says.
Shoppers who watch a video are 1.7 times more likely to buy something than those who don’t, Waugh said. But videos must be relevant, and those depicting how to assemble or use a product get the best results. When consumers evaluate video quality, the higher the rating the more likely they are to buy, Invodo found. A five-star rating correlates to a 3.76% conversion rate, while a one-star rating yields only a 1% conversion rate.
