Updated: Nov 8, 2021
The way we shop online is changing as we know it. With faster technical advancements, it is no wonder that retail is transforming for the better.
2021 has seen a vast majority of brands move towards more online modes of selling. The pandemic is not over yet, so many merchants are taking extra digital precautions to ensure that their revenue is not compromised by the closure of bricks and mortar stores.
Even over the past few months, Ecommerce has seen some big names develop new, innovative ways of selling with huge players including Netflix, TikTok, Samsung and more.
Netflix Hub at Walmart digital storefront goes live
Netflix Hub at Walmart is pitched as the "biggest online retail destination for Netflix consumer products in the US."
It includes a Stranger Things music collection and action figures, Squid Game apparel, Cocomelon dolls and an Ada Twist lab playset.
It also promises customers “exclusive experiences to engage with popular Netflix shows in innovative ways.”
For example, a crowdsourcing opportunity called Netflix Fan Select will allow fans the opportunity to vote for merchandise they’d like to see from favoured Netflix shows. And then Walmart merchants will bring them to life.
“More than just the go to destination for your everyday needs, Walmart is now the official one stop shop to bring your favourite Netflix stories home. Go grab your Walmart snacks, new Netflix merch and snag the best seat on the couch,” says Jeff Evans, Executive Vice President, Entertainment, Toys and Seasonal, Walmart U.S.
Gen Zs pick TikTok for Black Friday and Xmas shopping
Six in ten Gen Zs will do their Black Friday 2021 and Christmas shopping using alternative methods such as Pinterest, TikTok and Alexa, according to research by Brightpearl.
Four in ten people prefer new social buying channels, shoppable video and live shopping events as they combine entertainment and shopping - much like traditional malls do.
But what is shoppable video or shoppable content?
This can range from on-demand video to live stream shopping events. Content has an interactive video overlay that viewers can click to bring up product information. This could be colour, price, size, links to product pages or even the option to add the item to their bag. With 57% of 18- to 24-year-olds turning to non-traditional ways of spending over the last year, these formats have seen a huge increase in popularity and ROI.
In 2021, Gen-Z shoppers look towards brand apps or even social media platforms like TikTok and Instagram for shoppable video solutions. As a result, brands are harnessing the power of interactive video platforms to create dynamic and immersive clickable content that not only engages, but informs and converts. Live stream shopping events have proven to be especially effective at creating a sociable and personalised way to shop online with the realtime element pushing impulse purchases.
Samsung took advantage of shoppable video technology to provide customers with an exclusive event where they could buy discounted products in realtime:
Forget offline vs online. The big word in retail is hybrid
Despite rapid advancements in streaming commerce to push more users online, this does not mean brands should abandon in person commerce. The key word now is hybrid, that is, the blurring of online and offline and the pursuit of one customer experience.
If you want proof, look no further than Amazon, which last week opened the doors to the first Amazon 4-star store outside of the US.
Customers can purchase online and collect orders at the store as soon as the next day. It also offers parcel free, label free returns for items purchased both in store and online.
Digital price tags are located alongside each product with the item price, average star rating, and the number of customer reviews.
Amazon account holders will pay the price as they would on the UK site. Prime members will receive exclusive perks and deals throughout the store.
Oroton brings their resort collection to life with a beautiful example of shoppable video on their site landing page.
Australian luxury brand, Oroton, used Smartzer's interactive video platform to elevate their home page with dynamic and clickable content. The refreshingly vibrant video embraces the colours of summer through crisp whites and sunshine yellows. The viewer cannot help but feel completely engaged by the interactive content and compelled to explore the products.
Execution:
Oroton seamlessly embedded shoppable video onto their landing page using Smartzer's platform. The video featured clickable hotspots tagged with product information. Viewers could click to choose their size and add it straight to their bag without leaving the video. The bespoke player was customised to match the Oroton branding, reflecting the sleek, clean styles of the Ecommerce site. At the end of the video, viewers were encouraged to hit replay and could scroll through all of the featured products to shop one more time.
Results:
By using video interactivity, Oroton was able to create a video that resulted in the following:
Clickable overlay with product hotspots
Group popup with look images and multiple products
Size option drop down with "add to bag" functionality
Shoppable side carousel with all of the featured looks
Seamless landing page integration
Bespoke player design
API connection with up to date stock information
Replay screen with shoppable end carousel
Conclusion:
Using shoppable video formats on Ecommerce can take your landing page to the next level. Clickable content draws in the viewer holding their attention for longer than standard video, reducing user drop off. The direct links to product pages and CTAs to add to cart move the viewer quickly down the purchase funnel to make a purchase. Using these interactive videos on web pages turn uninformed site visitors into qualified traffic turning considerations into conversions.
In light of the COVID-19 pandemic, Ecommerce has soured and the holiday season will be no exception. Ecommerce is projected to account for a record 18.9% of the total $206.8 billion in holiday sales projected for this year.
Last year, November Christmas shopping was disrupted by lockdowns and store closures. As a result, shoppers are sceptical as to whether they will be able to visit retailers and brands in person for the run up to Christmas. Now, people have brought their holiday buying forward, with many buying online and even stock piling in anticipation of shortages.
To capitalise on this mass move towards online buying, brands are reimagining their video content marketing strategies to include more engaging formats that replicate the experience of in-person shopping, online.
Key changes will be witnessed in Black Friday and Cyber Monday spending....
Online sales in October 2020 were already very high (up 25% year over year), which set the stage for an impressive Cyber Month in November 2020.
Global Black Friday 2020 sales more than doubled (+168%) compared to October of the same year. The 2019 Black Friday spike was more pronounced, at +213%.
This year on year increase forecasts big things for the 2021 shopping events. So, what formats will brands be investigating for their events?
Shoppable video solutions will be bridging the gap between online and offline shopping.
Rapid developments in technology have meant that Ecommerce has adapted over the past 18 months. One of the biggest crazes to sweep the globe has been live stream shopping. With the market expected to reach $25 billion in the US in 2023, brands have been quick to capitalise on such a revolutionary technology.
Live shopping has allowed brands to host exclusive events for customers from the comfort of their homes. The real-time video format creates a sociable atmosphere with hosts and customers communicating with each other to make big sales. This has really helped merchants to overcome the majority of obstacles put in place by the pandemic.
Even with vaccine roll out slowing the spread of the virus, people are still hesitant to leave their homes for potentially crowded areas. As a result, live shopping has helped to connect store associates and customers by removing the need to be together in person. The instant "see now, buy now" atmosphere of a one-off live stream encourages viewers to make impulse sales with special deals charging purchases. These discount events are expected to fuel Cyber Monday and Black Friday, presenting an exciting new future for Ecommerce.
Post Black Friday, live stream shopping events are likely to populate the internet right through to Boxing Day and beyond.
From gifting tutorials to styling and Christmas tree decorating, shoppable videos will shorten the path to purchase this festive period. They provide instant links to product pages as well as the ability to add items straight to the cart. See below for Smartzer's Christmas 20 partnership with Luxury retailer, Brown Thomas.
New shoppable video functionality takes the stress out of Christmas shopping by creating a memorable and entertaining experience. This elevates Ecommerce beyond the boredom of static images and flat, lecture-like video.