In the digital age, where online shopping has become the norm, businesses must find innovative ways to capture the attention and trust of potential customers. Brands and retailers operating primarily online or with a presence in both online and offline spaces have likely observed a notable distinction between traditional retail and eCommerce. In contrast to the traditional brick-and-mortar model where a significant portion of in-store visitors tend to convert into customers, the dynamics of eCommerce present a different scenario.
One highly effective method is the use of eCommerce product videos. These dynamic and engaging visual assets have emerged as game-changers for businesses, offering numerous benefits that can significantly impact sales. In this blog post, we'll explore the importance of product videos in eCommerce and delve into the ways businesses can leverage product video generation tools in the process of video creation at scale.
Although online retail stores offer comfort and convenience to customers, they often struggle with relatively low conversion rates. On average, only around 3-4% of website visits ultimately lead to completed purchases. The factors contributing to these low conversion rates can vary, including incomplete product information, shipping limitations, and unengaging content that fails to captivate shoppers. Product videos address the challenge of creating compelling content that offers both engaging visuals and detailed product information, empowering shoppers to make informed decisions and ultimately complete their purchases. 72% of customers preferred to learn about a product or service through video rather than text.
As eCommerce platforms and marketplaces begin integrating videos into their product listing pages, it presents the perfect time for brands and retailers to embrace more engaging content and leverage the power of product videos. This is an ideal time for businesses to explore newer technologies and strategies related to product videos, aligning themselves with the evolving landscape of online shopping. According to an annual State of Video Marketing survey conducted by Wyzowl, 70% of the marketers who don't currently use video as a marketing tool, told us they plan to start in 2023.
