Recent reports from the Interactive Media in Retail Group predict that Britons will spend around £15bn online this festive season.
But video review site Vzaar warned that, if 46 per cent of customers are not receiving the goods they ordered, this equates to a waste of £6.9bn.
The Vzaar survey claimed that shoppers are increasingly unhappy with sites that rely solely on static images and text to sell products and services.
One in five respondents would be willing to pay an additional 10 per cent for the reassurance of seeing products and services in more interactive detail, the video firm claimed.
If this is true, online retailers could make an extra £300m using video in adverts and listings.
"The rise in popularity of video sharing sites is one of the main pillars of web 2.0, but retailers have yet to embrace its power," said Adrian Sevitz, described as 'chief geek' at Vzaar.
"In the busy Christmas period, innovative use of video could really help sites stand out from the competition, encourage trust among customers and maximise profits."
However, recent research by More Computers claimed that, although shoppers are turning away from online advertising in favour of customer reviews and blogs, features like video reviews have yet to capture the imagination of even the most experienced online shoppers.
The Vzaar survey also claimed that 58 per cent of online shoppers believe sites using video are more professional, while just over half say that seeing a video makes them more likely to buy. Some 42 per cent expressed more trust in a site that uses video.
Half of online shoppers 'disappointed'
By Staff Writers on Nov 30, 2007 1:24PM