A recent study by Cloudinary, an eminent image and video platform, reveals the potential for substantial savings in e-commerce by incorporating images and videos. The effective use of these visuals can reduce product returns by up to one-third, saving retailers billions annually, says the global survey.
The study sampled 2,693 consumers from Australia, Germany, the UK, and the US. A noteworthy 57% of the participants confirmed their shopping journey from research to purchase occurs entirely online. Interestingly, all age groups depend on reviews for purchase decisions. Still, younger shoppers tend to shop online more often, heavily relying on visuals and social media endorsements.
The National Retail Federation estimated that consumers would return merchandise worth $816 billion in 2022. For 30% of the surveyed shoppers, products returned didn’t match their online expectations, and 46% abandoned purchases of clothing or shoes due to sizing concerns. However, 57% agreed that media like 360-degree images, 3D models, and user-generated videos would likely enhance their purchase intent, as reported by the Cloudinary Global E-Commerce Survey.
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Customer age significantly influences what they value in an online shopping experience. For Gen Z, a majority preferred user reviews with images (63%), text-only reviews (62%), and a comprehensive product gallery (52%). Conversely, the Silent Generation highlighted a detailed product gallery (67%), text-only reviews (60%), and branded product videos (28%).
The survey also discovered trends in product research, purchasing habits, preferred devices, and visual content’s impact on brand trust. Around 57% favoured online research and buying, while 28% preferred researching online and buying in-store. Product reviews (81%), retailer’s product pages (56%), and peer discussions (50%) emerged as top criteria for product research. User-generated content like reviews and customer videos significantly sway consumer behavior.
Device preferences for online shopping displayed a clear generational divide. Generation Z (73%) and Millennials (74%) primarily used their smartphones, emphasizing a mobile-first strategy for retailers. Meanwhile, the majority of Baby Boomers (64%) and the Silent Generation (71%) leaned towards desktop PCs.
Only 52% of consumers purchased from unfamiliar brands. Still, user images on the product page convinced 47% of these shoppers, compared to only 28% swayed by user images generally. Thus, brands, particularly smaller, ambitious ones, can enhance sales from unfamiliar buyers by integrating user-generated visuals, thereby fostering trust and boosting brand awareness, the survey suggested.
This article is based on a report by fibre2fashion.
