AUSTIN, Texas--(BUSINESS WIRE)--Invodo®, the only full-service video partner for business, today announced the company has commissioned the first-ever comprehensive study on how consumers embrace video in a retail context, revealing that many of the common perceptions about how video is used in shopping are actually incorrect. Conducted in partnership with the e-tailing group led by President Lauren Freedman, the research shows consumers care more about the quality and content of the video than the actual length of the clip – a departure from the widely accepted notion that retail-related videos should stick to approximately 30 seconds in length. The results demonstrate consumers expect video as part of their shopping experience, and rely on it when making purchase decisions.
“Up until now, retailers have had to make decisions about video without getting information from the most important stakeholder – their customers,” said Craig Wax, CEO of Invodo. “In learning from consumers themselves, it’s clear that shoppers are comfortable with video, they watch it when they find it, and it can play a significant role in the buying process. This research delivers powerful insight that will help us create even stronger and more effective video content for our clients.”
In a surprising turn, Invodo’s survey revealed that a variety of common assumptions about video are off-base, as video is far more critical in aiding purchasing decisions than previously shown:
Myth: 30-seconds is the
sweet spot for video; shoppers will abandon videos after a certain
time because they have very short attention spans.
- What the research shows: Length of videos doesn’t matter as much as the quality and type does. People don’t abandon a video because it’s gone past a certain time; they abandon the video when it’s not telling them something that’s useful for their decision-making. Videos that educate and demonstrate are given the greatest attention and consumers will watch them multiple times prior to purchasing a product.
- Over a third of consumers (37%) spend more than three minutes watching product videos that educate or demonstrate.
- 66% of consumers watch videos on information-intensive products two or more times.
Myth: The use of video on websites
is a “nice-to-have” feature to help improve the user experience.
- What the research shows: Video plays a significant role and is a more important investment than many brands realize, given how much of an impact it has on purchasing decisions. Shoppers want, expect and watch videos to increase their understanding of a product or service they’re considering buying, and to feel more confident about their purchase.
- 66% of consumers report seeing a product demonstrated in a video makes it much easier for them to understand how it really works.
- 52% of consumers shared that watching a product video before purchasing an item online makes them more confident in their decision and less likely to return that product.
Myth: More casual,
“YouTube-style” videos produced in-house can be seen as authentic, and
are effective in building credibility and demonstrating products.
- What the research shows: Professionally-produced videos with quality lighting and sound matter a lot to shoppers. Consumers appreciate high quality video production, and professionally generated videos receive greater engagement and are seen as more reliable when making purchase decisions.
- More than half of consumers (54%) cited a preference for watching more “polished” professionally produced videos.
- While only 30% of respondents indicated they were inclined to buy a product as a result of watching user-generated videos from peers, more than 47% of consumers called professionally produced videos “more reliable” in helping make purchase decisions.
Russ Somers, director of marketing for Invodo, and the e-tailing group’s Freedman will present key findings from the study and release the full report during a webinar on Wednesday, February 8, 2012. The webinar, entitled “Captivating Consumers through Cross-Channel Video,” will highlight insights uncovered by the study and what the implications are for online and multichannel merchants. To register to attend, visit: http://bit.ly/CaptivateConsumersWebinar.
As video technology is being used by retailers and brand manufacturers to inform, entertain, educate and aid in selling product, the goal of the survey was to understand current product video consumption habits and the role these videos play in consumers’ online browsing and buying behaviors. The study explores data from a November 2011 online survey conducted by the e-tailing group, which was fielded to 1,039 consumers (50% female / 50% male) who have watched product videos on retail or brand manufacturer websites.
To learn more about how brands are using video, and to see examples of videos created by Invodo, visit www.invodo.com.
Invodo helps businesses sell more through the power of video. A full-service video solution for business, Invodo creates high-quality product video at scale and develops new technology to influence consumers where it matters most. Invodo videos increase sales conversion rates, reduce returns and drive site traffic for customers, including Internet 500 retailers and major brands. For more information, please visit www.invodo.com.