How do online videos benefit retail?

I recently found this interesting article by Matthew Bavosa on 101 statistics related to corporate video.

Everyone wins when an online video of a product is provided.

  • Catching the e-tail trend, 55% of online retailers used video on product pages in 2009 but this technique increased to 73% of retailers in 2010.
  • When a video is present on a product page of LivingDirect.com, consumers spend 9% more time viewing the page compared to when no video is present.
  • According to Internet Retailer, an April 2010 report stated that consumers who watch product videos are 85% more likely to buy products compared to those who do not watch.
  • Internet Retailer released a study that found shoppers were 144% more likely to add a product to their cart after viewing a product video on StacksandStacks.com compared to shoppers who avoided video.
  • In an August 2010 report from comScore, online retail shoppers who watch video spend about two minutes more on that site and are 64% more likely to buy compared to others.
  • With social integration, retail sites that provide videos increase traffic and conversions to social media platforms by 30% according to the September 2010 L2 Specialty Retail Report.
  • In-store sales increased 6% when Reckitt Benckiser provided online video for their consumer packaged goods.
  • 46% of consumers who shop online regularly prefer shopping on retail sites providing product video compared to 30% of consumers who occasionally shop online.
  • By properly implementing video to their sitemaps, Discovery Channel increased their video streams by 123%.
  • Watching a minute of video is the equivalent of reading 1.8 million words according to Dr. James McQuivey of Forrester Research

You can read the full article101 Online Video Stats to Make Your Eyes Glaze Over

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