By Roku, the popular streaming TV platform, experienced a significant surge in its stock on Tuesday following an exciting announcement. The company has partnered with e-commerce software giant, Shopify, to revolutionize the way viewers can shop directly from their televisions.
Through this collaboration, participating merchants are now able to provide viewers with the convenience of purchasing products by simply pressing the “OK” button on their Roku remote. This action grants them access to detailed information about the advertised item and allows them to complete their purchase directly from their TV screen, thanks to the Roku Pay payments platform. Notable initial ad partners in this program include True Classics (a renowned men’s apparel brand), Ergatta (a leading connected rower company), and Olly (a well-known wellness brand).
To facilitate this seamless process, Roku has introduced its innovative “Roku Action Ads” platform. This platform serves as a direct connection between consumers and advertisers, further enhancing their overall shopping experience. Notably, Walmart and DoorDash have previously partnered with Roku in similar capacities.
While the concept of shopping from the comfort of one’s couch is not entirely new, it has yet to gain significant traction. In 2006, Home Shopping Network piloted a service that allowed consumers to make purchases using their TV remotes. However, this collaboration between Roku and Shopify holds unique potential. Countless direct-to-consumer brands heavily rely on Shopify’s robust e-commerce platform, often leveraging TV advertisements to reach their target audience.
Following this exciting announcement, Roku shares experienced an impressive 11.4% surge, reaching $75.62 on Tuesday. Similarly, Shopify also witnessed a positive impact, with an increase of 1.8% to $62.99.
Comments