Video streaming subscriptions have the opportunity to integrate shopping into the viewing experience, with relevant recommendations based on what consumers can see on screen.
According to PYMNTS Intelligence’s “How We Will Pay Report: How Connected Devices Enable Multitasking Among Digital-First Consumers,” which drew from a survey of more than 4,600 U.S. consumers, many connected device users are interested in shopping opportunities as they stream content.
Specifically, 33% stated that they would be interested in the following internet-connected buying experience: “You are watching your favorite livestreamed series on your iPad or mobile device, and you want to buy an item of clothing or piece of jewelry that you see on one of the actors in the series. You are able to touch the screen to go to the product page and make the purchase.”
Moreover, 5% said they already do this.
Amazon, for its part, is already doing this to an extent, offering recommendations of other products and services through its Prime Video X-Ray feature, which includes X-Ray shopping.
“Without question, further monetizing that IP by connecting streaming content to [Amazon’s] massive commerce engine and 174 million payments-enabled Prime Video subscribers is the topic of some Amazonian’s 6-Pager somewhere — … a new commerce flywheel that gives consumers and brands novel ways to discover products and buy them,” PYMNTS’ Karen Webster observed in a feature last year.
Netflix is making its own moves into retail. Josh Simon, the streaming giant’s vice president of consumer products, announced earlier this month that the company plans to open retail stores called “Netflix House” in 2025. These stores will offer fans the opportunity to fully immerse themselves in the worlds of their favorite TV shows, providing a unique and interactive experience. Yet so far these efforts are not integrating with the streaming giant’s video-viewing interface.
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