The Rise of Online Sales in 2021
Posted on 17th February 2021
As the UK and rest of the world spent the majority of 2020 isolating and stuck at home, many of us turned to the internet and online shopping as a way of meeting our consumer needs. Total online sales growth in the UK rose by 36.6% year-on-year in 2020, the largest growth seen since 2007. The rise of e-commerce sales throughout the world over the course of the year was hard to ignore, as people shopped online often out of necessity and brands were forced to quickly change their strategies. As a result of all this, consumer trends change to favour online sales and many retailers are competing for top places in a crowded retail space.
While many businesses are being challenged by COVID-19, some others are actually thriving during lockdown and adapting to the changes shop closures have led to increased orders for online fashion retailer Boohoo. From March until May, it saw a 45% revenue increase which surpassed analyst estimates for 15% growth. Key to sales growth was more purchases of home and loungewear pieces, such as hoodies and joggers as well as tops for those wanting to look smart during work video conferences.
Video has become increasingly important as companies continue move their marketing sales online in 2021. The future of e-commerce is already here and it’s always changing. Product videos add a different dimension to the online shopping experience. One of the most effective ways of increasing e-commerce conversion rate is by addressing the uncertainty through product videos. They allow visitors to see the product from multiple angles in motion, to see it in a context and to understand better how it works. This is invaluable information that is often difficult to grasp online using only images and text.
Some e-commerce videos work better than others at converting shoppers. As a rough guide, a good e-commerce video should fulfil a specific goal, should be brief and to the point, versatile to any platform and look real and genuine. With the direction consumers are heading, there are visitors that are looking to be sold or at least engaged before being sold. This is where Prism Studios can help.
A huge budget isn’t necessary to be able to create a video strategy that works for your business. There are lots of cost efficient ways to approach using online video in your marketing strategy.
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