A new study has found 53% of connected TV (CTV) users wish all TV ads had a quick option to buy the product, and 63% wish they could see store or brand inventory from their TV.
The Shoppable TV Report: 2024 and Beyond, from LG Ad Solutions, found 81% of CTV owners are influenced by TV ads in their shopping decisions and 63% often discover new brands and products through TV ads.
Beyond influence and product discovery, 47% have made a purchase after seeing a TV ad in the past three months. Of those consumers, most (56%) completed a purchase using their mobile phone, followed by laptop/desktop (45%), in-store (31%), tablets (31%) and on CTV (29%).
“While marketers have long understood the impact of reaching audiences via the largest screen of the house, the rise of shoppable ads unlocks an even more direct pathway to consumers” said Ed Wale, VP Europe, at LG Ad Solutions.
“The TV experience is no longer simply a passive format that sits outside of other digital channels, becoming highly connected and interactive. This revolutionary development enables marketers to employ a more holistic and connected approach to their campaigns, and offer audiences a more convenient way to shop.”
The study also highlighted the importance of QR codes. It revealed seven in 10 viewers like TV ad creatives that include a QR code, with 62% open to scanning a QR code on a TV ad in the next 12 months. Some 38% were likely to make a purchase after scanning a QR code on a TV ad, with 49% stating they will scan a QR code on a TV ad to take advantage of a discount.
LG Ad Solutions stressed that QR codes must be made more effective with personalisation. The report noted the primary reason consumers don’t scan QR codes on TV ads is a lack of interest in the product or brand (70%).
Additionally, respondents note that the ad did not appear for long enough (21%), their phone/tablet was out of reach (13%), they don’t know how to scan a QR code (10%) and there was no discount code (8%) as reasons why they didn’t scan.
When looking at categories, Apparel and Electronics showed the highest engagement potential with Shoppable TV ads, while Grocery, Restaurants, and TV & Film represent the largest opportunities for purchase intention using QR codes in creative.
Tony Marlow, CMO at LG Ad Solutions, added: “Marketers need to take advantage of niche audience datasets, such as consumer purchase and ACR segments to create personalised and interactive shoppable ad experiences within CTV environments that will drive better engagement and outcomes for both advertisers and consumers.”
Retail media will be discussed in detail in a brand new event coming to London on 11 June 2024. MediaX explores the experiences of well-established retailers in this space to new entrants and the agencies who are helping make things tick.
The full agenda for the latest RetailX event MediaX is coming soon, but the key themes can be seen here.
