Today, Roku released the results of its 2020 Holiday Consumer Shopping Survey in partnership with The Harris Poll. The report gives insight into consumer shopping habits for this holiday season, but also ties that data into streaming, to show how advertisers can best reach their target audiences.
The study shows that the average American now reports spending more time streaming than watching traditional television. As we know, streaming became more popular during the pandemic, with Roku showing that cord cutting accelerated by 22% since March.
Of those who have cut the cord, 56% said they made the move because pay TV had gotten too expensive. On average, Roku users said they’re saving $75 per month on home entertainment after dropping traditional pay TV. Relating that back to holiday shopping, the same consumers list saving money as a priority when shopping online. 55% said free or cheap shipping had the biggest influence on overall purchasing decisions. 42% said discounts and coupons had the biggest influence.
With an increase in time spent streaming and cord cutters always on the lookout for a good deal, advertisers are investing in ads for streaming platforms, and it’s working. Two thirds of millennials have paused a streaming ad to go online and shop for the product, according to the study, and 44% of streamers said they shop online while streaming.
With two thirds of consumers expected to shop virtually this year and 79% of streamers saying they’ll do most of their shopping online, plan to see plenty of ads while streaming this holiday season.