Retail, CPG, Auto On The Rise: Video Insights from Innovid iQ
Just about a year after lockdowns upended life — and advertising — across the world, we’re starting to see the light at the end of the COVID-19 tunnel. Vaccines are being distributed, things are starting to reopen, and advertising dollars are flowing again. Fresh Innovid iQ data from February 2021 shows us that global video impressions grew +35% year-over-year, with CTV leading the charge with +62% year-over-year growth. We’re happy to report that verticals significantly affected by the pandemic — namely Retail, CPG, and Auto — are making a healthy comeback. Take a look at some recent Innovid iQ findings:
Retail Doubles Down on CTV and Programmatic
Though the pandemic wreaked havoc on retail operations this time last year, things are looking a lot rosier for the industry. Total retail video impressions grew +63% year-over-year in February, and CTV impressions skyrocketed with a +159% year-over-year growth. The biggest jump in the retail world, however, came from programmatic audience-buying, which saw a +212% year-over-year increase. It looks like the modernization of the retail industry, propelled by the pandemic, is taking place both online and in-store.
CPG Gets Social
With fewer people spontaneously popping into grocery and big box stores, CPG brands doubled-down on their digital strategies. In February, we saw a +55% year-over-year growth in total CPG video impressions, with CTV impressions jumping +104%. It looks like brands were hoping to go viral: we saw a +98% year-over-year increase for impressions served via social platforms.
Auto Embraces Digital and Programmatic Efficiencies
Total video impressions for auto grew +57% year-over-year in February. When it comes to CTV, that growth jumped to +95%. Auto brands have been focusing on digital channels and on programmatic, which saw +200% and +88% year-over-year increases, respectively. It’s clear that they’re making the most of their advertising dollars and turning towards addressable digital channels to effectively reach consumers who are likely to be in-market for new vehicles.
These verticals have gone above and beyond where they were pre-COVID, and we hope to see these numbers continue to climb. For a complete picture of the state of video advertising, check out our Innovid iQ dashboard, and sign up to receive alerts so you’ll never miss out on new insights.