With Toys R Us and Maplin going into administration and thousands of jobs set to be impacted, a digital marketing experts says that online video is partly to blame.
Alex Connock, previously head of video at LADbible is now a visiting professor at the University of Salford Business School. He also runs Missile, a digital content creation agency.
Connock said: “Tech disrupts most industries – Spotify and music, Uber and taxis – but at least it has the good manners to smash them up one at a time.
“Even in this disruptive era, one innovation stands out, because it risks rendering obsolete three major 20th century industries at once – retail, advertising and commercial TV. The culprit? E-commerce video.
“The videos are stylish, usually subtitled (most online video viewing is done mute) and short – and targeted specifically at you. Almost every consumer brand is using them.
“Video is disrupting retail because it works. It makes people more likely to buy stuff than simple product listings or photos, let alone a trip down the High Street and the impact has been seen today with the news about Toy R Us and Maplin. 29% of people in a survey I ran with Ipsos Mori had already bought because of it.
“And as the e-commerce industry surges this year to an astonishing $2.7 trillion in 2018 – including for instance 19% of all Chinese retail sales – video is here to stay. Video itself was 74% of all online traffic in 2017.”
Did you enjoy reading this content? To get more great content like this subscribe to our magazine
Tagged with: Salford Business School