Google Reports That Consumers Now Rely on Video Data When Making Purchases
Google, in an ongoing effort to get inside the minds of modern consumers, recently conducted an in-depth study that unearthed some surprising data about shopper behavior. In this study, Google experts surveyed nearly 25,000 shoppers across 10 separate countries to determine the type of data they used when making purchase-related decisions.
To their great surprise, surveyors discovered that 55% of shoppers they spoke to relied heavily on product data videos and online reviews. These consumers used this information to develop virtual shopping lists, boost confidence in purchase decisions and more.
Video as an Avenue to Boost Consumer Confidence in Products
Although Google’s recent study yielded several eye-opening consumer trends, one stands out as being particularly telling. Modern consumers rely on the information from video content on social media to boost confidence in purchase decisions. Shoppers can feel intimidated or overwhelmed by the volume of choices at their disposal when searching for an item. When they require more information on a product, modern consumers are likely to pull up a video while in the store to help with the decision-making process.
These videos often feature information such as:
- First-hand reviews of products and services from well-known social influencers
- Comparison data covering the pros and cons of various items
- Step-by-step tutorials discussing the right product based on a consumer’s needs
- Quick reference videos to help assess the quality of an item and more
Additionally, many consumers now reference videos when it comes down to the wire and they wish to weigh the merits of products from competing brands.
Say Goodbye to Hand-written Shopping Lists
In addition to providing last-minute data on purchases or serving as a tie-breaker among products, videos appear to be ideal for shopping lists. In fact, many modern shoppers appear poised to abandon the good ol’ fashioned hand-written list, in favor of product-focused videos. This trend is especially prevalent for shoppers scanning the aisles at a hardware store for items needed for a home improvement project or at a supermarket while searching for ingredients for an enticing new recipe.
Continue to Focus on Meeting Consumers’ Information Needs
The most important takeaway to note here is that consumers surveyed in this study felt an overwhelming need to gather more last-minute information before making a purchase. They already knew the type of product they wanted, such as a new faucet, an article of clothing, a vacuum cleaner, etc., but needed in-depth content to help make a final decision. Startups and SMBs should take note of this trend and continue to focus efforts on crafting relevant, engaging and actionable written content, videos and more. Businesses who help satisfy consumer need for information could find themselves well-poised to gain a loyal consumer following.