Omdia Highlights Shoppable TV Opportunity

Growth in online consumer spending is expected to outpace that of the media and entertainment sector, Omdia has found in a new report, highlighting the opportunities in shoppable TV.

Online consumer spending is set to reach $4.4 trillion in 2025, rising to $6.6 trillion by 2029. The U.S. will contribute $1.4 trillion this year, rising to $2 trillion in 2029. The media and entertainment sector will rise from $1.07 trillion this year to $1.3 trillion by 2029, led by video content, which will drive 70 percent of global revenues, namely online video.

“Retail media and shoppable TV are driving a transformation in how content, commerce and advertising intersect, creating new avenues for businesses to capitalize on,” Omdia says, highlighting Walmart’s acquisition of Vizio. Omdia notes that 20 percent of Walmart’s revenue comes from digital channels currently. The adoption of CTV is creating increasing opportunities for broadcasters, advertisers and retailers, Omdia notes.

“Shoppable TV presents a massive opportunity for retailers, advertisers and content creators,” said Maria Rua Aguete, senior research director at Omdia. “However, challenges remain such as seamless checkout, consumer trust, and platform integration which must be addressed before its full potential is realized.”