Strategy Centre

Shoppable Video: Where the Smart Money is Going

  
16 February 2017 10:56
  

Shoppable Video: Where the Smart Money is Going

An early manifestation of shoppable video hit our computer screens back in 2010, but despite being on the radar for seven years, it still seems relatively new.

Shoppable video allows the consumer to see a range of products highlighted on a bespoke video — be it on a catwalk show or a promotional campaign — and click through instantly to buy them.

The opportunity to step from visualising a product on the video to buying it right away is retail gold and I’m not sure why more brands haven’t jumped on the bandwagon sooner.

Whereas traditional online selling sees the customer decide what they need, new technologies such as this shoppable video take it to the next degree by creating a whole new level of emotional and interactive engagement.

Right at the forefront of this technology is Belfast-based company, Taggled which has worked with Ted Baker, Schuh, Sephora and Ulta to create shoppable videos with huge success. Here is their Ted Baker video:

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Founder, Ian Scott said: “Product awareness and the expectation that shoppable video is very expensive is part of the reason why it has been slow to get off the ground. Being that it is a new channel, brands are unsure which department it falls into — digital marketing, ecommerce, display marketing or video production for example — and often struggle with who’s budget should be allocated. This lack of clarity slows up the sales process and more often than not the decision to produce the video does not go ahead.”

Although the brands that have adopted Taggled’s technology appear to be high end, this does not need to be the case:

“There is a preconception that shoppable video is just for progressive innovative retailers, but the reality is that anyone can use it”, said Ian Scott. Our research has shown that 80 percent of consumers are more likely to purchase if they have seen a brand video, and web pages that feature shoppable video content get 15 percent more engagement that plain text and images. The results speak for themselves.”

As a partner of IRP Commerce, Taggled is working with retailers that use its technology to create shoppable videos for its customers.

“There is nothing more engaging for brands than video — and shoppable video takes this to a whole new level,” says IRP Commerce CEO Daniel Loughlin. “We recommend shoppable video for companies to achieve a whole new level of customer engagement and user experience.”

To find out more about Taggled shoppable video, speak to your IRP Account Manager.

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