Video is one of the most powerful selling tools around, says Invodo. The ecommerce video company recently released its 2014 Year in Review report, and chief among its findings is that online shoppers who watched a product-related video were 1.6x more likely to buy it than shoppers who didn’t watch a video.
Video’s influence was highest for online-only retailers. They saw a 1.7x lift from video-viewers. Multichannel retailers saw a lift of 1.2x. Invodo also found that 81 percent of all shoppers research products before buying. Since many of those purchases are at brick-and-mortar stores, Invodo suspects that the real lift for multichannel retailers is more than 1.2x.
Some of the report’s most interesting findings show when shoppers are watching video. In general, ecommerce video views in 2014 grew 54 percent over 2013. Sunday was the most popular day of the week for ecommerce videos, and Sundays during the last two months of the year—the holiday shopping season—showed dramatic spikes. Black Friday enjoyed the highest spike, though.
The holidays gave the fourth quarter a huge lift over the rest of the year. Invodo found that 43 percent of all 2014 ecommerce video views took place in Q4.
For more results, download the full report for free (registration required).