Nearly one out of 10 households with a smart TV or streaming media device have purchased a physical good through a connected TV (CTV) platform within the past 30 days, according to a new report released on Thursday.
The report, from Parks Associates and tech research firm Adeia, said digital goods and subscriptions are still the dominant transactions taking place on CTV platforms today, with one-quarter of consumers making a digital purchase using their remotes or voice within the past month.
Consumers are growing more comfortable purchasing physical goods through their TVs, too, with around 7.5 million households making a purchase for a physical item through a CTV experience in recent weeks, Parks reported.
“For advertisers, this transforms passive viewing into an interactive, shoppable experience that directly connects content to commerce — an opportunity that can dramatically improve return on ad spend by driving higher engagement, accurate attribution, and measurable sales conversions,” the report said.
More than half of Americans surveyed said they are likely or very likely to engage with a shoppable ad experience or similar format in the near future. That includes ordering food through TV promotions, engaging with an item presented during a commercial break or TV program, shopping for merchandise related to a show or event, and purchasing an item featured on a shopping channel.
It isn’t just digital and physical goods: There is growing interest among sports fans to transact with streaming services, too, particularly in the area of sports betting. Nearly one-third of sports fans expressed an interest in placing a wager through a streaming service before or during a live event, the Parks report said.
The report, “Interactive and Shoppable TV: Next Wave of CTV Revenues,” can be downloaded for free (registration required) by clicking or tapping here.
