JD.com and Alibaba create indexes to identify Chinese shoppers’ spending trends, which help retailers gain insight.
The sales conversion rate for shoppers who watch a video at OnlineShoes.com is 45% more than the site’s average conversion rate, the retailer says.
The sales conversion rate for shoppers who watch a video at web-only retailer OnlineShoes.com is 45% more than the site’s average conversion rate, the retailer says.
Moreover, shoppers who view a product page that features a video-but don’t view the video-also convert at a higher rate than those who view a page that doesn’t feature a video.
Behind the numbers is OnlineShoes.com’s ability to provide a differentiated online shopping experience, said Jimmy Healey, OnlineShoes.com product marketing manager, at the Internet Retailer Web Design & Usability 2010 Conference, in a session entitled "How to best use videos." “We want to give shoppers insight into the fit and feel of the product, show its intended use and give it a touchy feely experience,” he said.
That means that the videos-whether on a product or category page-are aimed at the online retailer’s customer base. “Our New Balance customer isn’t necessarily the same customer who is buying New Balance shoes at NewBalance.com,” he said. “So we use video to talk to them so that we convey to them that we know who our customer is and what her hang-ups may be.” That may mean helping customers understand how to determine whether they need a wide shoe (19% of the shoes on the site are wide shoes) or how to train for a 5-kilometer race.
In its third year of producing videos, OnlineShoes.com has seen a 359% year-over-year increase in monthly video views, the retailer says.
OnlineShoes.com is also growing increasingly efficient in its video production process. It used to involve multiple teams that each provided input into the production process, but the videos are now done with only the product marketing team. Doing so allows the team to post a video as soon as 40 minutes after it finished the shoot. That means that OnlineShoes.com will be able to dramatically increase its video production output-from 300 videos a year to nearly 1,200. It is also reducing its production costs by 400%, said Healey.