With 84% of parents planning to watch the 2024 Olympic Games with their children, new LG Ad Solutions insights uncover opportunities for CTV advertisers seeking to capture back-to-school dollars during tentpole events
LG Ad Solutions today released a report, titled “Commercials & Classrooms: TV’s Impact on Back-to-School Shopping,” which reveals parents reported spending an average of $1,080 per child on school supplies last year, with 62% expecting to spend more for this upcoming school year.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240715613048/en/
LG Ad Solutions Commercials & Classrooms: TV’s Impact on Back-to-School Shopping (Graphic: Business Wire)
One of the most surprising findings in the study was that a majority of parents (74%) revealed that Back-to-School shopping is one area where they actually prefer to shop in store rather than online, especially from big box retailers like Walmart and Target. Not only do parents want to shop in-store with their kids but the study found that parents dictate where they go back to school shopping versus children dictating what is actually being bought.
“Understanding viewer behavior is critical for advertisers when building effective CTV advertising campaigns around back-to-school. These insights help advertisers understand that some advanced ad techniques can work harder for them, especially when these interactive features drive to things like specific store locations or in-store discounts,” said LG Ad Solutions, CMO, Tony Marlow. “Advanced CTV ads have proven to be extremely effective for the season, with 85% of parents saying they have shopped at a specific store after seeing a back-to-school ad.”
The report, based on a survey of over 700 U.S. CTV users who are parents or guardians buying school supplies, also reveals:
- Engaging Features and Discounts Drive Attention: Parents are more likely to pay attention to ads featuring discounts (93%), QR codes (81%), and products being used by students (89%).
- Streaming Preferred for Co-Viewing: Parents across all educational levels (92% of Elementary, 91% of Middle School, 90% of High School 90%, 90% of College) prefer streaming when watching with their children, highlighting an opportunity for advertisers to reach household decision-makers through ad-supported streaming.
- Free Streaming is Key: Seventy-seven percent of parents prefer free ad-supported streaming TV (FAST) apps for a wide selection of content at no cost, which is 12% higher than the general adult population.
- High Daily TV and Co-Viewership: Most parents watch TV daily, spending 59% of their viewing time co-viewing with their children.
The study also found that 84% of parents plan to watch the 2024 Olympic Games with their children, offering a prime opportunity for advertisers to connect with key audiences during the core back-to-school shopping period.
“Brands can participate in major global events without relying solely on the traditional 30-second spot. Options such as LG Home Screen placements, pause ads, and sponsoring content segments—like a sporting event at the Olympics—provide opportunities for brands to stand out on the largest screen in the home during the peak back-to-school shopping period,” Marlow added.
For more information on LG Ad Solutions and to download the full study, visit: https://lgads.tv/resource/back-to-school/.
About LG Ad Solutions
LG Ad Solutions is a global leader in connected TV and cross-screen advertising, helping brands find hard-to-get unduplicated reach at optimal frequency across the fragmented streaming TV landscape. We bring together LG’s years of experience in delivering world-class smart TVs to consumers worldwide with big TV audience data and Video AI designed to connect brands with audiences across all screens.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240715613048/en/
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