The Internet, mobile and social media have forever transformed the distribution of viral messaging. No longer the best kept secret, at the center of successful communication is the medium of video. If you still need convincing, here are a few statistics on the future of video.
Six out of ten people would rather watch online videos than television. Mobile video consumption rises by 100% every year. By 2022, online videos will make up more than 82% of all consumer internet traffic - 15 times higher than in 2017.
By platform, EVERY DAY five billion videos are viewed on YouTube, 10 billion on Snapchat, 8 billion on Facebook, and 1 billion on TikTok. Video campaigns on LinkedIn have 50% view rates.
Viewers retain 95% of a message when they watch it in a video, compared to 10% when reading it in text. Seventy-two percent of customers would rather learn about a product or service by way of video. Social media posts with video have 48% more views.
Video increases organic search traffic on a website by 157%. On average, people spend 2.6x more time on pages with video than without. Videos under two minutes long get the most engagement.
Having a passion for powerful visual communications, weekly through my personal website I share multiple new videos focused on retail, emerging technologies, and leadership. As we reach the end of this surreal pandemic year, here are my top 7 amazing innovation leadership videos of 2020.
JD.com and The Future of Retail
JD.com is the largest online retailer in China. With over 300 million customers, we have a vast network of warehouses and delivery stations, and deliver most orders in less than a day. Here is their view on the future of retail.
Future of Shopping: Voice as a Retail Channel
Amazon Alexa Example of the Future of Retail. 43% of voice-enabled device owners use the technology to shop. Nearly 5.5 million USA adults make purchases with their smart speakers on a regular basis. 52% of people who search by voice are interested in receiving info about deals, sales, and promotions from brands.
Inditex (Zara) Customer Focused Innovation
Latest video from Inditex summarizing their over 1 billion Euros ($1.13 billion) investment in innovation including RFID, self-checkout, and mobile pay. As announced recently, the company is placing more aggressive focus on digital transformation leadership across channels.
Nike Paris, House of Innovation 002
Like its predecessors in New York and Shanghai, the Paris flagship — situated amongst some of the world’s most iconic landmarks — offers an immersive and digitally-powered end-to-end consumer journey.
PwC: A Day with the Internet of Things
The drive to innovate is reaching into some of the most mundane parts of our lives, and reimagining them as nodes in a connected web of 'things'.
Visual Artificial Intelligence (AI) Revolutionizing Retail
As an example, applying visual artificial intelligence at point-of-sale is already delivering substantial positive results. In deployments protecting over $400 billion in retailers' revenue across 75,000+ checkout lanes, the average sales uplift has been 0.5% and the margin increase a substantial 20%.
2020 China's Double 11 Alibaba $74.1 Billion Shopping Holiday
Singles Day, the biggest shopping festival in the world, this year running 11 days ending November 11. $74.1 billion in gross revenue for Alibaba. Nearly $6 billion from USA brands, the largest single country in revenue outside China. At peak, 583,000 orders per second processed. Logistics for 2.32 billion packages. 800+ million consumers participating.
Above visual masterpieces are a reminder that this is the age to disrupt or be disrupted. They are also a leading indicator of what is ahead in a post pandemic new world.