Consumers are turning to their TVs for holiday inspiration: 43% of connected TV (CTV) users say TV ads offer useful information on holiday shopping, and 72% would scan a QR code in a TV ad to make a purchase, according to a report from LG Ad Solutions.
US adults will spend 2 hours and 15 minutes (2:15) a day watching CTV in 2024, accounting for over half (54.7%) of the time they spend watching digital video, per to our forecast.
Here’s how advertisers can tap into CTV’s screen time this holiday season.
Give the gift of a deal. Nine in 10 holiday shoppers (91%) want to see ads that offer a specific promotion, and seven in 10 (71%) appreciate ads that make it simpler to purchase the featured item, per LG’s report.
CTV users will take the next step. Fifty-six percent of CTV users will turn to search engines to research gifts this holiday season, with 36% saying they’ll search online after viewing streaming ads, per LG. And 34% will visit a retail website, with 42% saying they’ll go to a brand website after seeing a streaming ad.
Not everyone is a couch potato. The majority of holiday shoppers will shop Black Friday (86%) and Cyber Monday (84%) deals, but 70% will take advantage of in-store Black Friday sales. Nearly half (48%) think Black Friday and Cyber Monday is when they’ll get the best deals. Early birds that shop before Thanksgiving are more likely to shop online (72%) than those who shop after the turkey is carved (63%), the report found.
Santa will bring new fits. Clothing/apparel (64%) and gift cards (62%) will be the top product categories for holiday 2024, up 4% and 3% , respectively, per LG. Toys, books, video games and media was the third biggest gift category (54%), down 2% YoY.
They’re making a list. More than seven in 10 CTV shoppers (73%) keep a wishlist of possible holiday gifts. Parents (95%) and early shoppers (81%) are even more likely to maintain a list.
Enter the likely suspects. Amazon (74%), Walmart (57%), and Target (49%) are the top retailers CTV users say they’ll shop at this holiday season, the report found. Nearly a third (30%) say they’ll do all their holiday shopping at the big three.
Men are more likely to spend more this holiday season. Over half of men (52%) say they will increase their holiday shopping spending this year, compared with only a third (30%) of women.
Returning to the scene. Sixty-five percent of CTV shoppers expect to make at least one return post holidays, a 19% YoY increase. Parents are 87% more likely than non-parents to make a return.
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