Shoppable video – technology which allows consumers to buy featured products within an online video with only a click or swipe – may help marketers to solve the problem of abandoned shopping carts, according to OneDash CEO and Founder Rayhan Perera.
Why it matters
Consumers have little tolerance for friction in online shopping: 69% of e-commerce buys go uncompleted, according to Baymard Institute. By providing a faster route from inspiration to checkout, shoppable video can help marketers tackle this challenge.How it works
- Interactive ‘hotspots’ over products, people and places enable consumers to engage with content as it plays. These include ‘buy it now’ options or details such as sizing and prices.
- Transactions can either be completed inside video players, or videos can connect to established e-commerce platforms like Amazon to increase buyer confidence.
- Emerging innovations include automatic product recognition – using machine learning to identify matching items in videos and instantly apply hotspots – and ‘branching’, which presents consumers with the choice of numerous narrative pathways in one video.
Marketers in categories including CPG and cosmetics can integrate video content with commerce technology to oil the wheels of online shopping and improve purchase completion rates.
Sourced from WARC