ProductPlay, one of Plug and Play‘s portfolio companies, is using video to bring the in-store experience directly to the consumer. Their platform employs algorithms to find the most relevant content on a given product, enabling online shoppers to make better informed purchases without leaving home.
According to the retail consultancy Kurt Salmon, as much as one third of all internet sales are immediately returned. Recognizing this, ProductPlay’s team set out to account for the factors that contribute to customer dissatisfaction specifically when shopping online.
According to ProductPlay’s founder Aahlada Chennupati, “the number one reason for an online shopper to lose interest in a product is a lack of information.” When retailers decided to integrate video into their online marketplaces, they recognized a significant increase in sales in conjunction with a 25 percent reduction in returns.
While videos have proven to be an effective marketing tool for vendors, it is often difficult for the consumer to sift through the large amount of available content on a popular product to locate the information that they need.
When researching a particular product, the first place most consumers look is YouTube. YouTube’s network is saturated with a massive range of user generated video, and finding informative content can be a convoluted and time consuming process.
ProductPlay’s platform circumvents this problem by using affiliate networks to compile a database of consumer products in collaboration with Youtube’s API to aggregate the most relevant content. The final product streamlines the search process, providing a one-stop solution with curated content for consumers.
ProductPlay’s iOS app is supplemented by a platform that is offered to retailers. Online vendors can sign up for the service to source user-generated video endorsing their products. By citing third-party promotion, retailers are able to provide external validation to their products without spending money.
ProductPlay’s team joined Plug and Play’s Brand and Retail accelerator just three months ago. Since then, they have developed from an idea for an iOS app into a successfully launched product with multiple pilots in progress.
The Plug and Play Brand and Retail Accelerator was founded to bring together an ecosystem of brands, retailers, and retail solution providers to help accelerate the growth of early stage startups in the industry. The program specializes in investing in and curating companies like ProductPlay for exposure to our corporate partners such as Home Depot, Yum! Brands, and Proctor & Gamble.
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