Retail advertisers have become big users of connected TV, according to a new report from Innovid that found that 50% of global video impressions came from the platform.
CTV’s share of video impressions has increased 52% since 2019, Innovid said.
“Shifting consumer habits, combined with the increasingly fragmented media landscape, have pushed retailers to rethink their advertising strategies in order to stay competitive in a saturated market,” Innovid chief commercial officer Dave Helmreich said.
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“It’s no surprise that, as a result, CTV has taken a significant stake in retail advertisers’ media mix due to its ability to drive reach alongside granular targeting. With the use of advanced creative technologies like shoppable ads, coupled with customizable formats for personalization (day, time, location, weather, etc.), retail advertisers can better engage their target audiences at every step of their individual journeys with more personalized ad experiences at scale and, ultimately, drive business outcomes,“ Helmreich said.
Innovid also found that retailers ran 39% more dynamic video campaigns in 2022 compared to 2021, optimizing creative for personalization and increasing relevance based on date, time, location, weather targeting, sequential messaging or publisher/third-party targeting.
Interactive CTV saw modest growth, with 7.7% more retail advertisers adopting the format in 2022 compared to 2021, Innovid said. It’s worth noting, though, interactive CTV was the clear performance winner, with the highest engagement rate (1.9%) compared to standard video and other advanced creative formats.
For retail advertisers, ads under 10 seconds generated the most engagement, outpacing engagement of 15-second ads by 20%.
