Our 2014 Digital IQ Index: Sportswear report found 44% of brands used product videos to on their site in 2013, compared to 21% the year before. Of all site features (live chat, federated ID account login, find-in-store inventory check, and in-store pickup) product videos had the largest year-over-year increase in usage. Still, the tool is highly underutilized relative to its potential.
57% of consumers said product videos increase their purchase confidence. Those who see a video of a product are less likely to return in item, important for an industry plagued by a 20 to 30% return rate. They are 41% more likely to share, which is important considering the role of social recommendations in purchase decisions. 46% of shoppers use social media to decide what to buy, which partially makes up for social media’s underwhelming direct conversion rate.
The report found Sportswear product videos to be lacking in quality as well: sporadic and available for a limited number of SKUs. It seems that even though the Sportswear industry has come a long way in incorporating cutting-edge technologies (customization and wearables), there is room to improve in one of the e-commerce basics.