November 29th, 2016
First Look: Black Friday & Cyber Monday Video Commerce Insights
It's that magical time of year when friends and family feast together and shoppers devour the best deals of the year. Retailers are able to reach shoppers in more places than ever across both digital and physical mediums. Video commerce, along with social media and email marketing, are driving shoppers to engage and shop. Here at TVPage we saw some very interesting activity relating to video commerce, below are the highlights:
- Users watched far more product video over last year, almost 40%! This type of growth is a clear signal that users don't have the attention span to read. We anticipate this trend only to continue.
- On average, users watched just over 1:19 seconds per video viewed. Keep that in mind when creating new product video content. Be sure to produce short clips of your best-performing long-form content.
- Users viewed video almost equally on Black Friday and Cyber Monday, 49% vs 51%. This is an interesting stat signaling that users were shopping through video almost the same on both days.
- The most active vertical for watching video content: Consumer Electronics. This was followed by Fashion/Apparel, Home Goods and Automotive.
- As expected, purchase intent was high this past week. One retailer had a video conversion rate above 15%! On average, conversion rates from video viewers was up just over 2X from standard conversion rates.