The pandemic may feel light years away, but back to school shopping will probably never be the same. Shopping habits have shifted and ongoing adult education has grown exponentially, creating a whole new back to school target market. Let’s take a look at what this all means for advertisers.
According to a recent Deloitte report, the back-to-school market is set to balloon to $34.4B this year, up 24% since before the pandemic. Despite fears of inflation and global uncertainty, parents show no sign of slowing down their back-to-school spending, especially as they focus on emerging categories like mental wellness, sustainability, and electronic goods.
A growing class of adult learners seeking career changes or advancement are also fueling this growth, as they return to universities both online and in-person this year. Based on these numbers, it’s pretty clear that the back-to-school season will remain the second highest consumer spending season of the year, after the holidays.
While looking back at historical data always provides valuable insights, it will be important for marketers to develop an agile campaign strategy this year, that can account for pretty radical shifts in consumer behavior and demographic targets:
So how can advertisers engage consumers in a new and nimble way?
CTV and OTT advertising have grown exponentially since early 2020, with 94% of US households now reachable by connected device and 55% of households “cutting the cord” to get rid of cable in the last year.
So what is CTV advertising? CTV stands for Connected Television and broadly refers to the television content streamed over the internet. Viewers can access this content through Smart TVs (Apple TV, for example), OTT devices (“Over-the-top” devices like Roku or Amazon Fire Stick), mobile phones, or tablets.
The advent of CTV advertising, which has grown to a staggering $25.1 billion market in the last 2 years, is a symptom of some existential shifts in digital marketing. It is a solution for marketers with tight margins, privacy and tracking issues, and audiences with shrinking attention spans. Let’s see how it can help your back-to-school campaign.
Vibe.co has the first self-serve CTV ad platform in the industry, allowing advertisers to target users, select premium television inventory, and upload their ad creative to launch a CTV campaign in minutes. All you need is a 15 to 30 second video to upload and a target audience, so don’t wait any longer to give CTV a try.