News 5 Min Read
COVID-19 Sees Advertisers Shift to Ecommerce, Connected TV Advertising
Food and alcohol sales are booming online, travel has taken an expected hit, and almost all brands are shifting focus to ecommerce
Connected TV Advertising is Up in Wake of COVID-19
Advertisers are pivoting hard in the face of the COVID-19 pandemic, as their audiences’ habits have changed from shopping at physical locations to buying online. Not only that, viewers are streaming 61% more TV at the moment, which has caught advertisers’ attention.
SteelHouse CEO Mark Douglas stopped by Stuart Varney’s show on Fox Business today to discuss the data he’s personally seen sourced from SteelHouse’s insight into over $1 billion per week in ecommerce transactions. Food and booze sales are up (unsurprisingly), travel is down (again, unsurprising), and home improvement good are up, with more people possibly deciding to use their at-home time to be productive.
“If you take travel out of our data, we are up in revenue week over week,” said Mark Douglas when asked about any increases in streaming TV advertising. “Ecommerce retailers are increasing spend. We have a customer who does $1 billion in revenue, $900 million in-store, those stores are closed so they’re shifting everything to ecommerce right now. So they’re actually spending more on marketing this week than they were the previous week.”
This is a time when many advertisers are pivoting toward channels that are able to reach consumers where they’re spending time, and also guaranteeing a solid return on investment.
“There’s a lot of reshuffling, a lot of rethinking in how companies are doing business right now,” said Douglas. And it would appear a lot of that shuffling is toward digital and Connected TV advertising.
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