LG Ad Solutions has released a report titled Season’s Streamings: Holiday Shopping & TV Viewing Trends in 2024, which reveals that over a third (37 per cent) of CTV users plan to start their holiday shopping in October or earlier this year – with 60 per cent stating they’ll start before Thanksgiving. In addition, 40 per cent of CTV users plan to spend more this holiday season, with an average spend of $801 per person, representing a 14 per cent increase year-over-year.

With this increased spend in mind, 91 per cent holiday shoppers stated they want holiday shopping TV ads to have a specific deal or promotion and 71 per cent reporting they want the ads to make it easier to buy a featured item. And with consumers continuing to gravitate towards the TV Home Screen for content discovery, advertisers have an opportunity to leverage the full breadth of its capabilities this holiday season.

“CTV advertising in the UK is taking centre stage this holiday season, particularly tapping into unique advertising opportunities like the Smart TV Home Screen. As the hub of family entertainment, the Smart TV Home Screen offers brands a perfect opportunity to capture the attention of a broad audience, with eye-catching creative executions on the largest screen in the room. Delivered right at the beginning of a TV viewing session, before audiences are over-exposed by high ad loads or no longer reachable in ad free environments, the Home Screen offers an opportunity to truly stand out.” said Ed Wale, VP Europe at LG Ad Solutions.

The report, based on a survey of more than 1,000 CTV users who plan to shop for the holidays this year, also found:

• Holiday shoppers want helpful TV ads: 43 per cent of CTV users find that TV ads provide useful information on holiday products and services, with 72 per cent open to scanning a QR code from a TV ad in order to purchase a product or service this holiday season.

• Holiday shopping happens online and in-store: While 86 per cent of holiday shoppers say they take advantage of online Black Friday deals and 84 per cent state they take advantage of Cyber Monday deals, 70 per cent of holiday shoppers take advantage of in-store Black Friday deals. However, early shoppers (before Thanksgiving) are more likely to shop online (72 per cent) than post-Thanksgiving late shoppers (63 per cent).

• Apparel and gift cards are top spending categories this holiday season: Clothing/Apparel (64 per cent) and Gift Cards (62 per cent) represent the top categories of holiday spend, up 6 per cent and 4 per cent YoY respectively. In addition, Appliances, Travel, and Auto have seen increased spending – up 39 per cent, 26 per cent and 19 per cent YoY.

• Men plan to spend more than women on holiday purchases: Nearly 52 per cent 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 per cent of women stating the same. The majority of women (52 per cent) say they’ll spend the same amount as last year, compared to men (38 per cent).

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Categories: Articles, Connected TV, Consumer Behaviour, Research, Services

Tags: CTV, hopping, LG, LG Ad Solutions, Xmas