Video commerce🤳🏼, is all the rage🔥 Let us have a closer look 👀 at the space and see how’s its evolving?
Surprisingly Video Commerce, isn’t new, our parents did it too! Just the device & experience was different... Shopping Channels on TV has existed for ever.
The format, device, ecosystem, income, users and style has evolved.
When we say video commerce today, the following usually comes to our mind:
Let’s dig a little deeper in the space:
Before live videos came, there was shopping through Television, then came videos on YouTube (they’re still huge) and the latest came live shopping on multiple mobile applications.
The photo above is a screenshot of a Phone Unboxing video with over 6 Million+ views
It’s now becoming more & more common for users to watch a video before making a purchase, users just don’t want to see photos or read reviews, but want a deeper understanding of the product.
Remember until a few years ago, we’d go to the mall, like a pair of shoes and check the prices online, as we started spending majority of our time on the mobile phone, we not only compare prices, but even the product reviews, hence video creators( or influencers or key opinion leaders), have a large influence on what viewers shop and hence having a video for almost anything is becoming an utmost need whether you sell an onion chopper or a beard trimmer.
Intent vs Discovery ( Enablers vs Live Commerce applications)
Previously I’ve talked about how a user could watch specs of a mobile phone, hear about it’s performance, features from an influencer, or perhaps a chef may watch reviews of a Blender or a parent deciding on which baby carrier to buy, these purchases are high intent and hence user search for them, once you know which product to buy you visit that store or online store.
Intent based video commerce would result in:
higher conversions
higher AOVs