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If there’s one thing that’s bountiful in 2020, it’s video content. The streaming wars are raging, with services churning out enough programming for a lifetime. Meanwhile, social media platforms keep expanding and grabbing more of people’s finite attention. But while consumers have no shortage of content, what’s lacking is an experience that grabs their attention by offering more than just viewing.
The future of commerce belongs to brands and creators who bring commerce and content closer together in a seamless, engaging, and interactive viewing environment. These shoppable video experiences meet the viewers where they are, have the potential to unlock valuable user data, and empower brands to connect with consumers through more meaningful interactions.
How do you engage customers when in-store shopping is in many places all but obsolete? One solution that brand retailers around the country have been digging into this year is shoppable video. Using recorded and live video streams, brands have been able to capitalize on the shift toward mobile video and give customers direct links to buy their products online.
Although the market itself is still evolving, early surveys paint an optimistic picture on the future of shoppable video. Viewers are 66% more engaged when they watch interactive videos compared to traditional video, and studies have shown that interactivity results in 3x to 4x greater viewer conversion rates.
Consumers still show a strong preference toward watching video on social platforms, like Instagram, TikTok, and Facebook, so most retailers will want to promote their shoppable videos through those platforms. But from a technology standpoint, brands are faring better when they use standalone solutions to deploy video for engagement and product offerings. Those shoppable videos can then be repurposed for social media or for use on a brand’s own e-commerce site.