Product videos more than double jewelry site conversions

Over the past few months, and with the support of some of our best clients, we’ve been working on a case study that investigates how video is impacting online sales of jewelry items. I hope you find the following information useful and welcome comments and queries…

Mike@treepodia.com : )

Being a market leader is a big responsibility. Simply put – When you’re a leader you have no one to follow. Educating and developing your niche is primarily up to you!

As the market leader of video-for-ecommerce we take our role very seriously. In fact you’ll very rarely see cat jokes on this blog at all! (well there was that one time…)

The fun part is that you have a broader view of your niche than anyone else…

Here at Treepodia we love sharing our unique viewpoint in order to help with the “educating-and-development-responsibility” bit. This here post is one such example…

Ecommerce, Video and Jewelry sales

History

Treepodia has always been lucky enough to have a special relationship with the online-jewelry-sales industry. Very early on in our operations we caught the attention of Mr. Shmuel Gniwisch, CEO of Ice.com – one of the first companies to turn a jewelry store into an online shopping experience (…way back in 1999!!!).

With the support of Mr. Gniwisch, Ice, and it’s credo on such platforms as Internet Retailer, The Wall Street Journal, The New York Times (…etc.) we were immediately shot into the spotlight for anyone, and everyone, in the online-jewelry-sales business.

It was an amazing opportunity – Jewelry vendors deal in relatively high-ticket items, and anything that makes their products stand out can help them increase sales. Video was the perfect fit…

We became a big hit with online Jewelry vendors everywhere, and companies in this niche still remain some our best clients.

Why this matters?

Our platform enables our customers to:

  • Trace a conversion back to a video
  • Enable A/B testing for each product to test the impact video is having on its Conversion Rate

Having many clients in the the jewelry industry means we process millions of jewelry-article video views, and can aggregate the above mentioned data for them into unique insights regarding video’s impact:

8% of Jewelry site visitors choose to view videos

As the following chart demonstrates nearly 8% of all the visitors to jewelry websites elect to view a video when included on the page, indicating a good level of adoption and engagement for the technology.

 

Product videos boost jewlery site conversions by 247%

Videos’ contribution to an increase in conversions is evident across the board for all categories of jewelry items, however to truly perceive just how dramatic this increase is, I’d like to offer this next chart, which demonstrates the relative increase in conversions video enhanced pages had in comparison with their non-video displaying versions:

Note the first column of the table is the baseline “100%” which indicates no change. The chart immediately makes it evident that even the smaller conversion increases represent a near DOUBLING of sales. For bracelets and pendants the situation is even more dramatic with sales increasing by 2.5-3.7 times what they were for the same products without videos.

On average across all items and all vendors the study proves videos boosted conversions by 247%. Adding product videos to jewelry websites has been found to more-than-double sales!

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Raw Data:

Category Without video With video Increase in Conversions Views ratio
Bracelet Average 1.58% 5.02% 260.13% 7.18%
Earrings Average 2.55% 5.66% 190.33% 8.55%
Engagement rings Average 1.94% 5.45% 186.08% 7.26%
Pendants Average 2.62% 7.50% 370.60% 8.39%
Rings Average 2.26% 5.90% 212.64% 8.25%
Grand Average 2.20% 5.93% 247.00% 7.96%

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Image Credit: http://www.flickr.com/photos/peng-hui/3120170669

Posted by mike On November - 28 - 2011 Analytics and Metrics Promoted
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  • Jade

    excellent article. I’ve seen some great videos recently and the technology is really emerging to enhance the user experience. The UK market seems to be dominated by http://www.lionsorbet.com who seem to specialise in 3D Jewellery animation which seems a little more interactive than standard product videos but excited to see what’s coming

  • Ian Pleasants

    I can definitely see why, with a big-ticket purchase like jewellery, it will be very encouraging and reassuring for the customer to be able to view video, to capture the essence of the item. Your stats here clearly show the impact video can have for this market segment. Good post.

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