Video Matters to Merchant Conversion Rates
Ecommerce video solution Treepodia announced that an evaluation of its own product video performance on retail sites demonstrated higher conversion rates across the board.
While it would be easy to say the report is a bit self-serving (to say the least), the use of video has been shown in other studies to improve sales and conversion in the past. This study should act as one more sign that video is important to the whole of the ecommerce ecosystem. Increases in conversion rates were significant according to Treepodia; +85% for Jewelry, +101% for Electronics, +43% for Home & Garden, and +113% for the Gifts vertical. If you noticed a trend there, you are not alone - all of these categories tend to have a high average customer spend.
"Videos help our business in multiple ways, said Lee Brown, founder and managing director of Onlinegolf, Europe's number one online golf retailer. "First, our customers want to get a feel for what it is they're buying. Additionally, videos improve the usability of our site and give visitors a sense that we're a quality retailer with the best products. With Treepodia's video solution we've seen an increase in CVR of up to 88% for items featuring video."