Survey: 65% of Viewers Want to Make Purchases Using Direct Links; What Does This Mean for Ad-Supported Streaming?
Impulse buying online can be a blast, and almost all of us do it at some point. In fact, new data from the shopping solutions firm AiBUY, as reported by Advanced Television, shows that 52% of consumers made an impulse buy online within the last week.
AiBUY recently released its 2023 Consumer Path to Purchase report, which held findings with definite implications for streaming users. First among these was the statistic that 65% of consumers are likely to purchase a product they want if they’re able to do so via a clickable link embedded in the video they’re watching. At a rate of 83%, consumers also report seeing a product advertised on TV, streaming, or another video platform, but not being able to find it when searching online.
“Today’s shopper knows right away if they want to purchase something. Their decision is immediate and if given the chance to purchase right then and there, they will,” Randy Bapst, CEO of AiBUY said. “On the other hand, without providing the ability to do so instantly and directly, brands are losing out on the opportunity to convert shoppers and therefore missed revenue opportunities.”
The streaming industry can’t afford to be missing revenue opportunities these days, as every streamer besides Netflix is still figuring out how to make their platform consistently profitable. An increase in the number of shoppable ads could well be on the way, especially in light of AiBUY’s data.
Indeed, one service is already preparing to introduce clickable ads into its video. On Tuesday, Roku announced a deal with the e-commerce platform Shopify which will present ads that customers can click on with their remotes, get more information, and buy the product without having to utilize another screen.
Amazon also introduced shoppable ads recently, showing customers who paused while watching the Prime Video original series “Citadel” a link that would take them to merchandise related to the show. Amazon and Peacock have also made use of “virtual product placement” technology, which allows producers to change products advertised on things like signs and billboards shown on-camera in TV series.
As more and more streaming services adopt ad-supported plans, shoppable ads will become more frequent. Amazon is reportedly working on an ad-supported tier of Prime Video, which could quickly become the leader in shoppable ads thanks to the company’s role as an online retailing behemoth. Netflix could also jump to the forefront of clickable ads on streaming; the company is already working to develop more targeted commercials, and if its partnership with Microsoft ends next year, it will be free to start tinkering with any ad format it likes.
What this means for consumers is that more shoppable ads are definitely coming in the future. They benefit both advertisers and streamers and if 65% of consumers really are likely to purchase items they see featured on such ads, they’ll bring a new windfall of revenues for both.
Amazon Prime Video
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