Vertical Benchmarks Week: "2024 Advertising Insights Report for Retail"

Editor's Note: It's the fifth and final day of Innovid's "Vertical Benchmarks Week." Today, we're closing out the week with our retail sector report, where we're sharing Innovid's unique data from hundreds of billions of impressions on frequency, reach, and creative performance. This week, we've also explored our data on five other vertical industries — automotive, CPG, finance/insurance, QSR/restaurants, and pharmaceuticals — to help you gauge campaign performance in specific markets. 

Retail brands know there is huge potential in CTV advertising — especially when it comes to the power and versatility of shoppable ads. With shoppable ads, you can include store locators to drive foot traffic. You can use carousels to feature a variety of product, which can be populated dynamically based on geolocation and the weather.. And of course, you can use shoppable ads to enable consumers to buy directly from your TV spot. 

Innovid’s 2024 Advertising Insights Report for Retail, which is based on Innovid’s unparalleled data set, analyzes billions of video ad impressions delivered by our ad server in 2023 to provide unparalleled, actionable data to help retail marketers make the right decisions with their advertising campaigns.  

Innovid has an unrivaled window into streaming viewership and video advertising. Our data-driven report offers retail brands insight into how well their video ad campaigns are performing. The report also helps retail marketers understand how to connect, engage, measure, and drive outcomes with CTV and digital advertising. 

Here are key high-level findings from the report for retail advertisers:

• CTV continues to grow. More than half (56%) of Innovid’s retail video ad impressions in 2023 were CTV, an increase of 70% since 2019. Consumers are flocking to CTV and leaving traditional linear TV behind. Advertisers understand this fact and are boosting their spending on CTV advertising. 
• Advanced creative performs. Interactive video advertising delivered an engagement rate 2.7x higher than standard video. 
• How one retailer boosted campaign ROI by 55%. The report also features a case study showing how European retailer Haix used InnovidXP to analyze granular results data to optimize its ad campaign, improving ROI by 55%.     

The 2024 Advertising Insights Report for Retail includes insightful video advertising data on video completion rates, CTR, engagement rates, and average frequency and reach.

Download the report today.