Report: CTV half of global video impressions for retail
June 28, 2023
Among retail advertisers, connected TV (CTV) accounted for half (50 per cent) of global video impression share in 2022, an increase of nearly 52 per cent compared to 2019. This is according to a retail vertical benchmarks report released by Innovid, the independent advertising platform.
“Shifting consumer habits, combined with the increasingly fragmented media landscape, have pushed retailers to rethink their advertising strategies in order to stay competitive in a saturated market,” said Dave Helmreich, Chief Commercial Officer at Innovid. “It’s no surprise that, as a result, CTV has taken a significant stake in retail advertisers’ media mix due to its ability to drive reach alongside granular targeting. With the use of advanced creative technologies like shoppable ads, coupled with customisable formats for personalisation (day, time, location, weather, etc.), retail advertisers can better engage their target audiences at every step of their individual journeys with more personalised ad experiences at scale and, ultimately, drive business outcomes.”
The report analysed 23 billion global video advertising impressions from retail advertisers served on Innovid’s platform in 2022 across devices (CTV, mobile, and desktop) to provide a holistic view of how retail advertisers are leveraging video advertising and adapting media and creative strategies.
Key findings from Innovid’s platform include:
- CTV Stays Dominant in the Retail Media Mix: While CTV has maintained the majority of total video ad impressions for the last two years, mobile represented the second largest share at 32 per cent, followed by desktop at 18 per cent in 2022.
- Dynamic Video Takes Flight: Retailers ran 39 per cent more dynamic video campaigns in 2022 compared to 2021, optimising creatives for personalisation and increasing relevance based on date, time, location, weather targeting, sequential messaging, or publisher/third-party targeting.
- Interactive CTV Drives Engagement: Among retailers, interactive CTV saw modest growth with 7.7 per cent more advertisers adopting the format in 2022 compared to 2021. It’s worth noting, however, interactive CTV was the clear performance winner, with the highest engagement rate (1.9 per cent) compared to standard video and other advanced creative formats.
- Shorter is Sweeter for Retail Ad Engagement – but VCRs Vary: For retail advertisers, ads under 10 seconds garnered the most engagement, outpacing engagement of the second highest length (15 seconds) by 20 per cent. But, despite ads 75 seconds or longer, all lengths had solid video competition rates (VCRs) – averaging around 86 per cent.