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The holidays are almost upon us. What do we know about consumer shopping intent?
In a year marked by macroeconomic uncertainty, we approached our latest research study with an eye toward Q4 spending. We wanted to understand how people plan to shop and stream this gift-giving season so that advertisers can better plan their holiday campaigns. The goal: Provide marketers with a playbook for this season and beyond.
Our report with the Harris Poll, “The Season of Streaming 2022,” surveyed almost 2,000 US adults and our research finds reason for optimism. Overall, consumers plan to spend, shop, and gift more thoughtfully and sustainably this year.
In our key findings, we found that:
1. Spending is set to increase amid inflation.
This holiday season, shoppers plan to spend an average of $993 on holiday gifts, a 6% increase from 2021. Streamers plan to spend 18% more than non-streamers, highlighting the need for marketers to get in front of this critical group.
2. Consumers are shopping earlier and saving ahead for inflation.
More than half of holiday shoppers, including 70% of Millennials, either have started or will start saving earlier this year to prepare for the holiday season.
3. The gap between TV streaming and traditional TV is widening.
TV streaming, both in terms of time spent streaming and subscription numbers, is at its highest for holiday shoppers since this survey began. Holiday shoppers now report spending an average of 10.7 hours per week watching streaming TV.
4. TV streaming ads drive product research and purchase.
As consumers spend more time streaming TV, ads in this environment increasingly influence brand research and may increase purchases from the TV screen.
Want to read the full report? Get your own copy of “The Season of Streaming 2022” here.
