eMarketer releases groundbreaking report on video commerce
Jeffrey Grau, Sr. Analyst at eMarketer, published a groundbreaking report on the state of video in e-commerce yesterday. In the press release for the report, we learn about an explosive growth of e-commerce video viewership relative to traffic changes year-over-year. From the period October 2007 – October 2008, the number of viewers of e-commerce videos increased 40% relative to a much more modest growth of 4% in overall site traffic.
I rarely recommend the purchase of reports like these, but in this case I’ve read through the whole report and highly recommend it. The world of e-commerce video can be confusing, and Jeffrey brings a lot of clarity to the picture by addressing such important questions as:
– What is the real potential for video distribution?
– How are retailers altering their investment in video given the still-unfolding macroeconomic crisis?
– Top trends to watch for video applications in e-commerce
– The value of user-generated video content
– Video commerce defined
– Reasons why consumers watch product videos
– When and where video makes sense on and off e-commerce sites
– How many retailers have added video to their e-commerce sites
– Where video fits into the priority list of “most promising technologies for online customer engagement”
– How many videos e-commerce companies are posting on their sites, on average
– Benefits of brand videos
– Where video slots into the list of site features added or improved by online retailers to enhance the customer experience in 2008
– Online retail examples of revenue growth and return reduction through use of video
– Outline of the main obstacles facing adoption of video in the e-commerce space
– Highlights of video distribution strategies
– Top online video properties, ranked by videos viewed
– Percentage of online retailers that allow customers to upload their own online videos
Overall, the report is quite bullish about the future of online video, while remaining grounded in excellent statistical snapshots from a variety of sources regarding what’s actually going on in the market. The report also illustrates pitfalls to avoid in pursuing video commerce initiatives. On the whole, it is a well-balanced and thoughtful piece of research with a clear eye toward the potential of video commerce. Bar-none, this is the most forward-thinking report on video commerce I’ve seen to date. You can purchase the whole report for $695 at eMarketer.com.