The United
States online video shopping market is projected to grow with a robust growth
during the forecast period due to the high demand from young consumers, by the
accessibility of a personalized and convenient video shopping experience and
unique marketing and advertising tactics such as promotions, deals, and
discount, by several brands. Online video shopping is still a new trend in the
United States, and its adoption and impact may vary across different industries
and consumer demographics. However, as live video streaming and e-commerce continue
to evolve, video shopping has the potential to reshape the online shopping
experience and become more mainstream in the coming years.
United
States Online Video Shopping Market Scope
Online video
shopping refers to the use of digital video technology to connect customers and
e-commerce stores. Using embedded links in the video, this technology enables
customers to view and purchase products during a livestream, real-time
engagement, and from previously posted videos. Various online video shopping
platforms allow customers to video chat with customer service representatives
in a direct, face to face interaction which makes the purchase convenient. The
primary product categories with the high popularity in the United States
on online video shopping include apparel, electronics, sporting goods, food,
cosmetics, and household products.
United
States Online Video Shopping Market Overview
Online video
shopping offers an opportunity for the consumers to quickly decide by watching
at these shopping videos. The video gives all the information about the
product, which is beneficial for the buyer. However, it also aids in increasing
sales of products in United States for online video shopping. Customers who
visit these platforms are presented a video demonstrating or promoting a
product. The consumer can use the video to purchase the product with the links
associated with the product. Shoppable videos are an effortless way to
enhance the one-click shopping experience for consumers. Brands have the option
to post shoppable videos on social media, on-demand platforms, e-commerce
websites, and video streaming services, all of which are becoming more and more
popular. The usage of social media has the most opportunity to have an impact
on views and sales, regardless of whether it is used to publish content to it
or to drive click-throughs to the videos. Gen Z spends more on fashion, beauty,
and luxury goods than millennials do, which will expand the market of online
video shopping gin India.
According to
Census Bureau data, Americans bought more and more online at a predictable
pace. E-commerce sales went up by about 10 to 15 percent a year. The U.S. has
one of the highest numbers of internet users in the world, with over 200
million people preferring online shopping. eCommerce sales in the U.S. are
expected to reach USD 1.7 trillion by 2027.
United
States Online Video Shopping Market Drivers
Live streaming
has become as a popular and efficient method of maintaining audience engagement
in the digital era. Companies that stream live videos can get immediate
feedback from their viewers as they watch. Live streaming technology no longer
limits one-on-one interactions with brands, and many consumers now choose
to interact with their preferred brands in real time. For this reason,
companies and entrepreneurs can maximize revenue generation and exposure
through live streaming by capitalizing on this urge to interact. Moreover,
video shopping allows brands and influencers to highlight products in a more
authentic and transparent manner. The live format enables real-time
interactions, product demonstrations, and honest reviews, helping to build
trust with the audience. Consumers often appreciate the ability to see products
in action before making a purchase, reducing uncertainty, and increasing
confidence.
The benefits of
online video shopping are accelerating market expansion in the United States.
Online video shopping is much more captivating than just clicking and adding
items to your cart.. Thus, these drivers, combined with the broader trends in
e-commerce and the increasing demand for personalized and interactive
experiences, have contributed to the growth of live stream video shopping in
the United States.
United
States Online Video Shopping Market Trends
The trend of
live stream video shopping in the United States is rapidly evolving and
influenced by several key trends. Social commerce, which combines social media
and e-commerce, has gained significant traction. Live stream video shopping is
a natural extension of this trend, as it allows brands and influencers to
leverage their social media presence and engage directly with consumers in
real-time shopping experiences. Major e-commerce platforms are embracing live
stream video shopping by integrating live streaming features directly into
their platforms. For instance, Amazon Live enables sellers to livestream their
product demonstrations and interact with customers, while also providing direct
purchasing options.
Moreover,
initially, live stream video shopping was focused on fashion, beauty, and
lifestyle products. However, the trend has expanded into other categories such
as electronics, home goods, fitness, and even automotive. Brands and retailers
across industries are recognizing the potential of live stream video shopping
to display and sell their products. Adding gamification elements to live stream
video shopping has become a popular trend. This includes incorporating
interactive quizzes, contests, limited time offers, and flash sales during the live
stream events. These gamified elements create a sense of excitement and
urgency, driving engagement and boosting sales. In comparison to traditional
methods of commerce, livestream shopping can decrease barriers between the
company and consumers who shop from home. Additionally, virtual try-on sessions
and live demos are advantageous for consumers who shop from home and make
purchases more convenient. Thus, the trends in video shopping are continually
evolving as technology advances and consumer preferences change. The
integration of new features, enhanced interactivity, and innovative approaches
will expand the future of video shopping in the United States.
United
States Online Video Shopping Market Challenges
One of the
challenges for the video shopping market is the availability and reliability of
infrastructure and technology. Video shopping heavily relies on stable internet
connections, high-quality video streaming, and responsive platforms. Network
connectivity and latency issues can hinder smooth communication, causing
delays, interruptions, or poor video quality. Thus, minimizing these issues is
essential to create a satisfying video shopping experience. Some consumers may
prefer traditional in-person shopping or may have concerns about the security
and privacy of their personal information during video transactions.
In addition,
video shopping typically involves purchasing products without physically
inspecting them. As a result, customers may face challenges when it comes to
returns and exchanges if the product does not meet their expectations.
Implementing efficient return and exchange processes and ensuring customer
satisfaction in such situations can be a hurdle for video shopping platforms.
Market
Opportunities
- Online video shopping can be integrated
with social media platforms, enabling retailers to leverage the vast user
base and reach of social networks. By combining video shopping with social
commerce features, such as live streaming, influencers, and user-generated
content, retailers can tap into new audiences and drive conversions.
- Online video shopping provides an
opportunity for retailers to cross-sell and upsell their products
effectively. By visually demonstrating the features and benefits of
complementary or upgraded items, sellers can influence customer buying
decisions during the video shopping experience. This can help increase the
average order value and overall revenue.
- Online video shopping platforms can
leverage customer data and preferences to deliver targeted advertising. By
analyzing user behavior, preferences, and purchase history, retailers can
offer personalized product recommendations and targeted promotions during
video shopping sessions. This approach can increase conversion rates and
customer satisfaction.
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Market
Segmentation
The United
States online video shopping market is segmented based on type, product type,
payment method, company, and region. Based on type, the market is fragmented
into shoppable videos and livestream shopping. Further, based on product type
the market is segmented into apparel & accessories, health and personal
care, consumer electronic, and others (home furnishing and food & beverage,
etc.). Based on payment method, the market is divided into online payment and
pay on delivery. Based on region, the market is fragmented into South, West,
Midwest, and Northeast.
Company
Profiles
Amazon.com,
Inc. (Amazon Live), Smartzer Ltd, Bambuser AB, buywith inc, Clicktivated Video,
Inc., Verishop Inc., Oveit, Inc. (Streams.live), CommentSold, Inc., Buy It Live
International, Inc, and GhostRetail Inc. are some of the major players in the
United States online video shopping market.
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Attribute
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Details
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Base
Year
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2022
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Historic
Data
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2018 – 2021
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Estimated
Year
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2023
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Forecast
Period
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2024 – 2028
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Quantitative
Units
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Value
in USD Billion, CAGR for 2018-2022 and 2023-2028
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Report
Coverage
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Revenue
forecast, company share, competitive landscape, growth factors, and trends
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Segments
Covered
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Type
Product
Type
Payment
Method
Region
|
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Regional
Scope
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South,
Midwest, West, Northeast
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Key
Companies Profiled
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Amazon.com,
Inc. (Amazon Live), Smartzer Ltd, Bambuser AB, buywith inc, Clicktivated
Video, Inc., Verishop Inc., Oveit, Inc. (Streams.live), CommentSold, Inc.,
Buy It Live International, Inc, GhostRetail Inc.
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Customization
Scope
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10% free
report customization with purchase. Addition or alteration to country,
regional & segment scope.
|
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Pricing
and Purchase Options
|
Avail
customized purchase options to meet your exact research needs. Explore purchase options
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Delivery
Format
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PDF and Excel
through Email (We can also provide the editable version of the report in
PPT/Word format on special request)
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Report
Scope:
In this report,
United States online video shopping market has been segmented into the
following categories, in addition to the industry trends which have also been
detailed below:
- United States Online Video Shopping
Market, By Type:
- Shoppable Videos
- Livestream Shopping
- United States Online Video Shopping
Market, By Product Type:
- Apparel & Accessories
- Health and Personal Care
- Consumer Electronic
- Others (Home Furnishing, Food
& Beverage, etc.)
- United States Online Video Shopping
Market, By Payment Method:
- Online Payment
- Pay On Delivery
- United States Online Video Shopping
Market, By Region:
- South
- West
- Midwest
- Northeast
Competitive
Landscape
Company
Profiles: Detailed
analysis of the major companies present in United States online video shopping
market.
Available
Customizations:
With the given
market data, TechSci Research offers customizations according to a company’s
specific needs. The following customization options are available for the
report:
Company
Information
Detailed
analysis and profiling of additional market players (up to five).
United
States Online Video Shopping Market is an upcoming report to be released soon.
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