Here's a challenge for you- find a friend or a colleague who has never bought anything online. Tough, right? The way we shop has changed drastically in the last decade. From visiting physical stores for every little purchase to buying even high-ticket products online, we have all undergone a massive behavioural transformation.
The online shopping journey—from product discovery to purchase—is often complex and filled with many steps.
Shoppable videos are one of the most exciting recent innovations in the e-commerce industry. The online shopping journey—from product discovery to purchase—is often complex and filled with many steps. Shoppable videos make the shopping experience more immersive and efficient. Shoppers can quickly find and buy what they're looking for, increasing sales for e-commerce brands.
What are Shoppable Videos?
Shoppable videos are a form of content that allows viewers to buy the products featured in the video from within the video itself. As the video plays, clickable buttons such as 'Add to Cart' and 'Buy Now' appear, allowing viewers to add featured products to their cart without leaving the video.
This is what they look like.
According to Shopify's 2023 Commerce Trends Report,
"shoppable videos significantly lower barriers to conversion, with some companies reporting conversion rates near 30%".
If you're an e-commerce brand, not using shoppable videos is like driving into battle with one arm tied behind the back. Here's what Prabhu, the founder of Whatmore, a shoppable video company, says,
"Consumers are used to interacting with short-form video content on Instagram and TikTok. When you bring that experience to your website and make the videos easy to shop from, your engagement and conversion rate both shoot up."
Why you should be using shoppable videos
Shoppable videos are a powerhouse of conversion. Using them on your website has many benefits for your brand. Some of these are.
- Shoppable videos improve conversion rates.
Shoppable videos streamline the buying process by allowing viewers to purchase directly from the videos. This reduces friction in the purchase journey and leads to a higher conversion rate.
For example, one of our clients, The Bag Icon, hit a 4.23% conversion rate from shoppable videos.
- Increases average order value (AOV)
Shoppable videos boost 'add to cart' by shortening the shopping journey, which also increases the average order value. Our client, Philip, achieved an impressive 20% increase in the average order value after implementing shoppable videos on their website. You can read the full story here.
- Boosts engagement rates
One of the most unique advantages of shoppable videos is that they contain interactive elements that encourage visitors to actively participate instead of passively browsing the website. This keeps visitors' attention for longer and improves the engagement rate.
- Provides in-depth product views
With shoppable videos, you can re-create a physical store experience. For instance, if you're a fashion brand, you can show customers how a garment looks on a person, fabric details, and how to style it. On the other hand, if you're a skincare brand, you can show your customer what the product looks like, how to use it, and 'before-after' to prove its effectiveness.
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- Makes the online shopping experience more immersive
Shoppable videos let the viewers learn about and buy products right in the video, making the shopping experience more interactive and immersive.
- Shoppable videos create a 'shoppertainment' experience.
According to TikTok's 'Future of Commerce' study, shoppertainment in Asia-Pacific will reach $ 1 trillion by 2025. Tapping into this is an excellent way to ensure the growth of your e-commerce brand. For those you don't know, shoppertainment is about creating an entertaining eCommerce experience that resonates with your target customers. By entertaining them, you can attract them to your brand and lead them towards purchase. Shoppable videos help you do this easily.
What type of shoppable videos can you create?
Most of our clients create a variety of shoppable videos based on their goals, niche, and audience. There is no such thing as one-size-fits-all when it comes to shoppable videos. What format works best for you will be unique to your brand. But there are some tried-and-tested video formats that you can experiment with. These are-
1. New Product Launch Videos
Using a product launch video on your website's homepage will generate awareness and curiosity about it. This is a great way to boost uptake and conversion for a new product that your customers are unfamiliar with.
2. Product Collection/Montage Videos
You can promote seasonal collections, bestsellers, and themed montages as interactive shoppable videos on your website homepage. Promoting multiple products in one video will increase awareness of the entire product line and boost the 'add to cart' value since viewers can add multiple products to their cart from just one video.
3. How-To Videos
These videos are great for individual product pages. They give viewers an in-depth demonstration of your product, positioning your brand as helpful and user-centric. This increases purchase confidence and leads to a higher conversion rate. If you're a makeup brand, you can show your audience different looks they can achieve with a product. If you sell an electronic product, you can demonstrate its unique features and how to use it.
Our jewelry clients have experienced a 3X increase in conversion rates with shoppable videos. Given that these products typically have a high average order value (AOV), showcasing them in action helps potential customers make purchase decisions more quickly.
4. User-Generated Content (UGC) Videos
UGC videos add authenticity and social proof to your brand. Since your audience can't try your products in-store, seeing real people use and love your products online builds credibility. Shoppable UGC videos can include reviews, testimonials, or clips of people using your products.
Shoppable videos are a game changer for e-commerce brands. Consumer expectations are rising continuously. They want more product options, personalization, and a more immersive experience. They expect brands to create a physical store-like experience online. Using shoppable videos on your website can help you exceed, not just meet, these rising expectations.
Want to use shoppable videos to boost customer experience and conversion? Try Whatmore.
