More than four-fifths of Euro retailers set to lock horns with broadcasting giants | Media Analysis | Business
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Research from Brightcove has revealed that as pursuit for consumer attention continues, brands are converging with broadcasters in the living room, with 70% claiming to be on the way to being a media company.

In the online video solutions provider’s research, The Future of Retail: Streaming into Your Living Room — conducted by Vanson Bourne among 200 retail business decision-makers in the UK, France and Germany — Brightcove found that 81% of European retailers anticipate a future as a media company, with 85% already looking for ways to target consumers with content in their living rooms, looking to take on traditional broadcasting giants.

In all, 94% of European retailers are already offering or planning to offer what broadcasters refer to as ‘lean-back’ content services, that is ‘TV-like’ online video experiences. Just more than three-fifths of retail brands are already doing so and a further third (33%) have plans to do so within the next two years. One stand-out brand in this regard is Red Bull. The survey also found that all of the retailers surveyed that are already delivering some form of lean-back content offering have seen at least one positive business outcome such as increased revenues (66%), customers buying a wider range of products (50%) or increased website traffic (45%).

Currently 57% of retailers have owned an online video channel and 48% have used a third-party online video channel. Just over two-fifths have partnered with broadcasters and sponsored content.

Yet the research also showed that there were a number of concerns among brands. Amongst those already offering content services, key issues included not currently having the right in-house expertise (29%), not having enough content (28%), and being unsure of the value it would add to their business (25%). Perhaps as a result, more than half (54%) of those retailers who see a future as a media company have fears about their ability to do this successfully.

Commenting on the research, Mark Blair, VP of EMEA at Brightcove, said: “In recent years, video has established itself as an absolute must-have component in any digital marketing strategy, but as driving meaningful consumer engagement becomes ever more difficult, brands are looking for new ways to unlock additional revenue streams. And this has turned their attention to the living room.

“For retailers and brands to be truly successful in what is traditionally the broadcasters’ domain, they must first understand that it’s as much about the quality of the content they’re producing as it is how they are delivering it. For brands, it’s about treading the fine line between being salesy and informative, entertaining and relevant, and matching content output with consumer demand. If they are able to get this balance right, a wealth of revenue and engagement opportunities will be ready and waiting for them.”

The Future of Retail: Streaming into Your Living Room is available for download here.