Research shows great opportunity to drive consumer purchases and new revenues through T-Commerce
DALLAS, July 25, 2023 /PRNewswire/ — New research from Parks Associates shows that 51% of CTV (connected TV) device owners, roughly 44 million households, engage in commerce-related activities on their TV today. The most common are video-related digital purchases that leverage stored payment credentials or direct consumers to a mobile link to complete the purchase. The just-published study of 10,000 internet households, T-Commerce: Buying Through the TV, explores the potential of T-Commerce, or buying goods and services through the television, to generate additional revenues for video service providers.
The research study finds consumer use of ecommerce is growing across all platforms, with mobile purchasing in the lead. The research study finds the vast majority of consumers shop online, with 88% of consumers in US internet households shopping online at least once per month via a computer or mobile phone. Households that are heavy online shoppers today – households with children and those with higher income levels – are also the consumers who show most interest in T-Commerce.
“Digital purchases on TVs are common today and the foundation for future T-Commerce experiences,” said Jennifer Kent, VP, Research, Parks Associates. “This new research helps to quantify and understand consumer buying habits, purchase intentions, payment preferences, and inhibitors.”
The study assesses consumer openness to T-Commerce offerings, including the types of products and services most likely to generate sales. It explores preferred T-Commerce providers, user interfaces, and payment methods and identifies top barriers to T-Commerce activity. Additional research:
- Nearly one in four households now watch streaming TV (online pay TV).
- Older consumers express more interest in T-Commerce features enabled by retailers and credit card companies.
- Households with children are far more likely to use the T-Commerce features tested in the survey.
Parks Associates will host its sixth annual Future of Video at the Marina del Rey Marriott in Marina del Rey, CA, on November 14-16, 2023. Future of Video: OTT, Pay TV, and Digital Media early sponsors include Adeia and FPT Software. For questions, please contact Mindi Sue at email@example.com or 972-490-1113.
About Parks Associates
Parks Associates, a woman-founded and certified business, is an internationally recognized market research and consulting company specializing in emerging consumer technology products and services. Founded in 1986, Parks Associates provides business intelligence and research services through its proprietary methodologies developed over decades, including quarterly surveys of 10,000 internet households.
The company’s expertise crosses many industries: home security and smart home, streaming video, broadband and pay-TV services, digital media and platforms, gaming, Wi-Fi and home networks, connected health, support, consumer electronics, home control systems, energy management, and tech solutions for the multi-dwelling (MDU), small-to-medium business (SMB), and commercial building markets.
Each year, Parks Associates brings thousands of leaders together for its webinars and annual events. The firm hosts the annual executive research and strategy conferences CONNECTIONS™, Connected Health Summit, Smart Energy Summit, Smart Spaces, and Future of Video. http://www.parksassociates.com
Mindi Sue Sternblitz-Rubenstein
SOURCE Parks Associates