Yankee study says consumers who use streaming media applications are more likely to be web buyers.
Consumers who sample audio and video online are more likely to shop online, and retailers have begun to evaluate the connection in efforts to improve online conversion rates and increase sales, according to new research from the Yankee Group. Overall, 29% of online consumers surveyed had watched some form of video online during the previous three months, according to Yankee. That group included a larger than average percentage of online shoppers, with 74% saying they’d bought an item online in the past three months. Among those who have accessed streaming media from their home computers, 80% have bought online, Yankee found. By contrast, only 62% of those who use the web for various other reasons also shop online.
“The strong correlation between online shopping and online viewing of video is a compelling reason for retailers to evaluate the potential application for multimedia merchandising for their sites,” says Stephen Vonder Haar, a Yankee analyst. “Internet audio and video, initially viewed as a new platform used by entertainment companies to deliver movies and music online, is emerging as a tool that can be used to grab shoppers’ attention, deliver enhanced product information and convert shoppers into buyers.”