In its second-largest acquisition, Amazon buys the company for $970 million.
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Creating and deploying online video is no longer much of a challenge, says consultant Heneghan of Elevation. “For many of the things e-retailers can do, all you have to do is just connect a video camera to a computer and off you go. I mean, people are doing this every day at home with movies of their babies and then posting them on YouTube. However, e-retailers do have to ensure a level of professionalism, but they can do so with things they probably already have in house, like good lighting and graphic artists.”
As for the use of online video in e-retailing, one might say it’s a baby movie itself. “As far as its evolution goes, online video still is in its infancy,” says American Eagle Outfitters’ Savitt. “For us, having measured the click-throughs and conversions of our online video effort, so far we have seen good returns. Ultimately, online video is a significant part of Internet users’ online experiences and there is so much opportunity for retailers.”