Customers these days are more visual. They don't have the time to read long blog posts or novels to learn about what you have to offer. Your customers have short attention spans. They want to be told about your products quickly with the help of videos.
Videos are more engaging than reading text on a web page because customers can focus on the visuals of product videos instead of reading all the text.
If you don’t have a product video your competitors will get ahead of you.