NEW YORK—As broadcasters look for new revenue streams and work to demonstrate the value of TV advertising, a new report from Video Advertising Bureau (VAB) examines the state of shoppable TV ads and some of the opportunities they are creating.
"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 vice president and 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."
The new report, “Shortening the Path to Purchase: How new opportunities in Shoppable TV” found that viewers who interact with a shoppable ad are inherently more likely to then make a purchase.
It also highlighted the fact that outside of purchases, viewers interact with different shoppable ad formats in various ways to further engage with, or learn about, brands and products. The survey found more than one third (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.
The report also highlighted data from Samba TV and HarrisX showing that consumers show a clear interest in making purchases through shoppable ads on their TV set, indicating a ripe opportunity for brands, the VAB said.
In addition, the VAB survey found that younger audiences are more likely to recall seeing shoppable ads, which provides marketers an opportunity to connect with this valuable segment. 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.
The full report is available here.
