How will connected TV users shop this holiday season?
A large number of connected TV (CTV) users are planning to shop earlier and spend more this holiday season, according to a new survey.
LG Ad Solutions’ new report “Seasons Streamings: Holiday Shopping & TV Viewing Trends in 2024” found that over a third (37%) of CTV users plan to start their holiday shopping in October or earlier this year, and 60% plan to start before Thanksgiving. In addition, 40% of CTV users plan to spend more this holiday season, with an average spend of $801 per person, representing a 14% increase year-over-year.
Nearly all (91%) holiday shoppers who use a CTV stated they want holiday shopping TV ads to have a specific deal or promotion, and 71% said they want the ads to make it easier to buy a featured item. More than four-in-10 (43%) of CTV users say they find that TV ads provide useful information on holiday products and services, with 72% open to scanning a QR code from a TV ad in order to purchase a product or service this holiday season. LG Ad Solutions says that given these figures, advertisers have an opportunity to leverage the full breadth of CTV capabilities this holiday season.
“The second half of this year is gearing up to be a very active shopping season, and marketers are investing heavily into CTV campaigns to connect with their audiences on the largest screen in the home,” said Tony Marlow, chief marketing officer at LG Ad Solutions. “When it comes to discovering content and products, the TV Home Screen serves as the launch platform and we should expect to see retailers leaning heavily into this ad format for the second half of this year.”
Additional finding from the survey include the following:
- While 86% of holiday shoppers say they take advantage of online Black Friday deals and 84% state they take advantage of Cyber Monday deals, 70% of holiday shoppers take advantage of in-store Black Friday deals. However, early shoppers (before Thanksgiving) are more likely to shop online (72%) than post-Thanksgiving late shoppers (63%).
- Clothing/apparel (64%) and gift cards (62%) represent the top categories of holiday spend, up 6% and 4% year-over-year respectively. In addition, Appliances, Travel, and Auto have seen increased spending – up 39%, 26% and 19% year-over-year.
- Nearly 52% of men say they plan to spend more for holiday shopping and gifts this year compared to the year prior spending more this year, with 30% of women stating the same. The majority of women (52%) say they’ll spend the same amount as last year, compared to men (38%).
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“With access to more video content than ever before, a holistic view of TV consumption that informs key discovery and engagement moments is vital,” added Marlow. “Beyond the home screen itself, advertisers can tap into the collaborative benefits of a direct-to-glass strategy – with the ability to precisely target audiences and compliment strategies with curated content collections, such as holiday movies, that align with key cultural moments.”
