What does the shoppable TV ad landscape look like in 2023? And in what ways are there more opportunities for marketers than ever before? The Video Advertising Bureau (VAB) examines those questions and more in its new report, Shortening the Path to Purchase: How new opportunities in Shoppable TV are igniting viewer engagement and brand performance.
“As consumers’ viewing habits and buying preferences continue to evolve towards digital experiences, more TV platforms are introducing ad formats featuring shoppable experiences to connect them directly to brands and stimulate conversions and sales,” said Jason Wiese, Senior VP, Director of Strategic Insights, VAB. “These interactive ad formats further enhance TV as a high-performance channel that ignites full-funnel outcomes while also providing marketers with innovative ways to increase engagement with customer prospects.”
Among the insights outlined by and elaborated on in the report:
- Viewers who interact with a shoppable ad are inherently more likely to then make a purchase. (Source: Aluma Insights)
- Outside of purchases, viewers interact with different shoppable ad formats in various ways to further engage with, or learn about, brands and products. As examples: 36% of audiences have interacted with shoppable ad QR Codes, and 67% have interacted with the “click to receive info to your email or device” ad format. (Source: VAB custom research)
- Consumers show a clear interest in making purchases through shoppable ads on their TV set, indicating a ripe opportunity for brands. (Source: Samba TV & HarrisX data)
- Younger audiences are more likely to recall seeing shoppable ads, which provides marketers an opportunity to connect with this valuable segment. (Source: VAB custom research)
Access the report—which includes additional insights, numbers and analysis—here.
Custom Research Methodology:
VAB custom research fielded by Hub Entertainment Research. Data collected June 2023 and sourced from Hub’s survey of 1,602 TV consumers, ages 16-74.