Recently, Verisign welcomed the newest addition to the .tv registry, Lipsy.tv. As a fashion-based retailer in the U.K., Lispy highlights the best and the latest in fashion. The company is leveraging the .tv domain to extend its brand visibility and showcase to consumers interactive content from designers, models and more. By combining video and ecommerce, Lipsy.tv helps provide a more immersive buying experience and gives consumers in-depth looks at products ordinarily not available through static photography.
On the Verisign blog there is a posting, reproduced with permission below, where Verisign give some more information about some of the retail trends driving companies like Lipsy and how the power of video is giving consumers a more complete shopping experience.
Many retailers have historically relied on stuffing mailboxes with circulars and catalogs this time of year to capture new customers, only to have them wind up in the recycling bin. Today the Internet gives marketers the ability to create highly-targeted visual campaigns using dynamic tools that help customers more easily find what they are looking for and better depict what they will be getting after they click “proceed to checkout.” Video is one such tool that many e-tailers, but especially those in the fashion industry, have used well to this end.
A recent study “Online Apparel Shopping: How Video Boosts Shopper Confidence and Drives Sales,” from eMarketer explains how video has helped the fashion industry boost customer confidence and sales by bringing static Web images to life and better conveying the “touch and feel” element that buyers are looking for before they make a final purchase decision. According to another recent report from The e-Tailing Group, Delivering Superior Shopping Experiences via Video, consumers who viewed video content for a particular product:
- Felt more confident about their purchase and were less likely to return it (52%)
- Were willing to stay on a website longer because the retailer or brand made video content accessible (45%)
- Were more likely to return to a retailer who integrated video into the website experience (41%)
- Were likely to purchase more products on websites that offered video education (37%)
eMarketer estimates that online apparel and accessories sales will grow 20% in 2012, outpacing the 15.4% growth rate for retail ecommerce in general, reaching $41 billion. With the stakes so high to capture on this huge opportunity, apparel sites are looking for any advantage they can find to drive customers to their sites, and many are turning to video in some form.
“Lipsy.tv is a great addition to our brand and website,” said Lipsy Head of Ecommerce Anera Begic “By featuring high-quality interactive video content about our collections we are driving interest to our ecommerce site and stores while also helping to increase our brand intimacy through behind-the-scenes footage from fashion shoots , and interviews with our models and celebrities that really engage our customers. Today, retailers need to find meaningful ways to connect with their customers, and Lipsy.tv is a powerful vehicle for this.”
With Forrester Research predicting that direct Web sales and those influenced by the Internet will account for 53% of retail sales in 2014, ensuring a good online user experience is also important for in-store purchases. By engaging customers online through videos of their models, store openings, events, and more, Lipsy is building their community and providing ongoing opportunities to return to the Lipsy website and stores to learn about new products; helping to ensure their brand is top-of-mind when it comes time to buy in-store or online.