Including a video as part of a product landing page on a retailer’s website could increase the average order value by 50%, confirms a new survey from Liveclicker. Further, vendors who uploaded a video to most of their product landing pages saw a 68% increase on their average order value (AOV), compared to retailers who uploaded a video to just a few of their product or pages.
We already know that 71% of marketers confirm that video converts better than other forms of website content, and Liveclicker’s research, which surveyed retailers such as Bed, Bath and Beyond, Best Buy, and Newegg, strongly suggested that product videos did indeed lead to a higher conversion rate from customers who had viewed them on the individual landing pages.
Product Page Videos and Sales: Highlights of the New Report
Almost 60% of retailers surveyed confirmed their average order value (AOV) increased by at least 50% for customers that watched a video on a product page.
The AOV for retailers with video embedded on 50-75% of their product pages was around $300, compared to $177 for those with video on only 0-25 percent of product pages.
Retailers that uploaded video to most of their product pages reported that conversion rates were nearly 80% higher than those of retailers with product videos on less than 25% of their landing pages.
Retailers with videos on 25-50% of product pages report 31% more conversions.
Retailers who include videos on their product landing pages see a sales conversion rate of around 9%.
Customers who watched 10 or more videos spent 119% more than customers who watched just one video.