Reprise Commerce and Firework recently held a Commerce for the Video Generation webinar, focusing on the role of video commerce in helping brands leverage the growing demand for video content for higher sales and boosting ecommerce overall.
Moderated by Nicole Holt, Global VP of Commerce at Reprise Commerce, the webinar panelists included:
- Tori Squeo, Director of Agency Partnerships at Firework
- Zach Weinberg, VP of Commerce for US at Reprise Commerce
- James Gover, VP for EMEA at Firework
- Deidre Drewes, Director of Ecommerce Media at Reprise Commerce
The webinar is now available on-demand here.
Lessons from the webinar
The three big trends shaping the future of commerce
When looking at how ecommerce is evolving, three key trends really stand out. They are…
- Profitability: Companies are always looking at the bottom line, but it is even more important now with a recession on the horizon. Consumer spending is already changing, forcing marketers to adapt.
- Omnichannel: The term today is radically different from what it was when introduced in the mid-2000s. With the rise of ecommerce, the “unifying” aspect of omnichannel has much greater relevance now. The promise of what omnichannel could deliver on has come full circle as ecommerce has evolved to allow brands to incorporate their brick-and-mortar locations into their online commerce strategies.
- Video: Stands out as the most intriguing trend for brands, with video commerce positioned to have a massive impact on both profitability and the omnichannel experience.
“Brands are being pragmatic about how they are spending. Making sure that whatever solutions they are putting their spend into can show attributable scale and conversion is essential.” – Tori Squeo, Director of Agency Partnerships at Firework
Video Commerce: The what and the why
In a nutshell, video commerce encompasses any type of video experience that has a commerce component added on, along with a clear call to action.
Most video commerce falls into one of two categories –
- Shoppable Videos: Video units on a website that allow customers to directly purchase or add to cart any products that they see being featured within the content of that video unit.
- Livestream Shopping: Letting consumers watch video content (product demons, seasonal events, etc) in real-time while allowing them to simultaneously shop for the featured products.
For a more in-depth understanding of video commerce, check out Video Commerce 101, Firework’s comprehensive guide on video commerce for brands.
At a time when consumers are increasingly reliant on content to make purchase decisions, video commerce offers brands a way to tap into the endless stream of content, organically and impactfully, to drive sales and commerce growth.
“Consumers are spending 2-7 seconds on each piece of content on social. Brands can use that same content on their own websites; not only do you get the first-party data as users watch and engage, but users are spending up to 17 seconds on the same piece of content on a brand’s website. For live commerce events, the average viewing time is 17 minutes.” – James Gover, VP for EMEA at Firework
