Shoppable online video drives 87% of purchases, yet Australia’s publishers failed to capitalise: How smart tech, content marketing and culture are set to power new wave of results
A huge 87 per cent of Australians say that shoppable online videos are the key driver for influencing purchase decisions. But publishers have collectively failed to innovate, which means brands are missing out on video’s power to push consumers along the path to purchase. But News Corp says that is all about to change.
Many Australians associate video with sitting back, relaxing and “enjoying the show”. It’s been this way for years. The medium has enjoyed a cosy stagnancy when it comes to innovation. Not anymore. Changes to consumption habits in recent years have meant that video has evolved to the point where it can be a lean-in experience that demands active attention. The rise of platforms like TikTok, or the use of Instagram’s click-to-buy shopping, has shifted the paradigm for video, giving it an important role in the new online consumer journey. News Corp Australia’s insights reveal why video is so important now and into the future, and demonstrate how their new shoppable video product is revolutionising the market to exceed the demands of customers.
The lack of progress in the video medium has been detrimental to its role in consumers’ path to purchase, but it has also meant a great opportunity for recent innovations, including shoppable and interactive video products. It also means there is a great opportunity for those willing to capitalise on that opportunity. Meeting new consumer demands for active experiences has never been more important.
The key stats
- 87 per cent of Australian consumers say that shoppable online videos are the key driver for influencing their purchase decision.*
- 82 per cent of all consumer internet traffic this year will come from video.**
- 90 per cent of interactive videos get viewed until the end.***
- 72 per cent of Australian consumers prefer learning about a product or service via a video.**
- “How to” videos increase in search volume by 70 per cent each year.^
- Almost three quarters of online shoppers trust popular websites and brands with their card details.^^
Navigating the messy middle of the consumer purchase journey is complex and full of unlimited information and choice. Consumers are always on, ready to buy, and the velocity between the start of their journey to purchase and clicking to buy covers just seconds.
In fact, 80 per cent of consumers start the consumer journey by watching branded videos on YouTube*** – content marketing is the key driver. Content has changed how consumers see advertising and how they view brands. They don’t just want a two-way exchange, they value it. Interactive video plays a critical role in bridging this gap, allowing brands to win over customers through loyalty and conversion, while allowing them to participate through utility, inspiration or education.
The rise of content marketing has paved the way for innovation in the video medium. Businesses need to know their brand is front and centre in a trusted, scaled environment. News Corp Australia’s new shoppable video experiences are revolutionising the interactive video market and guaranteeing customers a seamless user experience. Created in partnership with Australian-owned interactive video startup Vudoo, this market-leading video product is an Australian first and allows consumers to swipe, click or tap from within the video straight to purchase, and then continue their video experience to the next piece of engaging content.
Moving into the video content space is a smooth transition for News Corp Australia, with a heritage in quality storytelling across both editorial and commercial settings. By providing clients with better opportunities to take advantage of market-leading tech, it further cements its position as a producer of premium trusted content.
There is a significant opportunity to drive stronger results for your brand when you understand where the future of video is headed and how to take advantage of the progressive interactive technology that will get us there now.
To find out more about News Corp Australia’s new shoppable video experience and how it can help grow your business, contact your News Corp Australia representative or visit newscorpaustralia.com for more information.
*Source: News Corp Retail Therapy Study 2021