Consumer Snapshot: Engaged Memorial Day Shoppers Drove Big Wins for Advertisers

Despite ongoing economic uncertainty, Memorial Day Weekend (MDW) shoppers showed up with serious purchase intent, driving impressive performance for brands of all shapes and sizes.

Using first party MNTN Performance TV data, we dug into MDW 2025 numbers to gauge consumer sentiment during this current stretch of “will they / won’t they” economic and tariff news. With MDW being a major shopping moment, we were interested to understand how the holiday has changed — or, in some cases, stayed the same — when it comes to consumer and advertiser behaviors in the current climate. Here are the most notable trends we saw over the holiday weekend, and how you can turn those insights into action.

CTV Viewers Weren’t Just Watching Ads, They Were Shopping With Purpose

Key takeaway: Streaming audiences were more engaged and had higher purchase intent than the year prior.

Our data tells a compelling story of consumer evolution from MDW 2024 to 2025. MNTN customer return on advertising spend (ROAS) climbed 13% year-over-year (YoY), while visit rates jumped 14%, signaling that streaming audiences were more engaged and had higher purchase intent than the year prior.

What made this shift even more pronounced was how consumers shook up traditional shopping patterns. The first day of MDW — Friday, May 23 — produced the highest performance across revenue, ROAS, visit rates, and cost-efficiency.

Monday (5/26) proved the most action-oriented day of the weekend, driving the highest conversion rates, confirming that Connected TV (CTV) viewers were strategically saving their clicks for when they were truly ready to buy. This behavior indicates that consumers used streaming platforms for research and decision-making when it came to MDW shopping.

Consistency and Strategic Timing Helped Advertisers Maximize Performance

Key takeaway: Shoppers spent big on Memorial Day Weekend and didn’t wait until Monday to make purchases.

YoY growth for CTV advertisers didn’t stop with ROAS and visit rates. Despite increasingly heightened competition on Memorial Day Weekend, MNTN customers experienced an average revenue lift of 31% YoY.

Looking at MDW 2025 Performance TV data on its own, consistency was key for advertisers. MNTN customers who stayed live all four days of the weekend (5/23/25-5/26/25) maximized performance:

• Keeping campaigns live through the weekend allowed brands to stay top of mind, reinforcing earlier touchpoints and driving purchases when it mattered most.

• Friday (5/23) drove peak performance across revenue, ROAS, visit rates, CPA, and CPV, indicating shoppers didn’t wait until the end of the long weekend to take action.

• After increasing by 16% on Saturday (5/24), CPV dipped on Sunday, offering a mid-weekend value pocket before Monday’s surge in shopper activity.

• Even as CPV and CPA rose on Monday — likely due to increased competition for ad inventory — CTV continued to deliver high-value outcomes. The final day of MDW saw the highest conversion rates (CVR) and remained second-highest in revenue and ROAS, confirming that CTV isn’t just efficient early — it remains effective even when advertising costs peak.

Performance Breakdown by Advertiser Industry

Key takeaway: Consumers reacted positively to increased advertiser spend across a wide variety of industries, resulting in strong performance growth.

When drilling down into MNTN advertiser data by industry, positive performance trends became even more pronounced — brands that maintained or increased their YoY ad spend for MDW 2025 saw impressive returns on their campaigns.

Arts and Entertainment brands saw standout efficiency and value, with revenue up 150%, ROAS up 118%, and AOV up 169% YoY. CPA dropped by 78% and average conversion rate increased by 67%, highlighting the exceptional impact of CTV on experience-driven product offerings.

With many consumers refreshing their wardrobes heading into the warmer summer months, Fashion and Apparel brands excelled over MDW 2025. This advertiser group upped their spend by 21% YoY, leading to a 46% increase in visits per advertiser and a 45% jump in average conversions. They also saw efficiency gains reflected in a 29% drop in CPV.

Hobbies and Recreation advertisers nearly doubled their investment with a 95% increase in spend per advertiser. This paid off, delivering a 92% increase in revenue, 83% more average conversions, and a 50% boost in AOV.

Consumers indicated that they were willing to invest in home, sweet, home. Home and Garden advertisers — who increased average spend by 20% YoY — drove 191% more visits per advertiser, a 61% lift in average conversions, and 53% growth in average visit rates. All while average CPV dropped by 58%.

Lifestyle brands saw a 56% increase in average conversions and a 23% boost in visit rates, while CPV dropped by 29%, improving overall cost-efficiency.

CTV viewers are ready for summer jet setting as travel advertisers — who boosted spend per advertiser by 20% — drove a 41% rise in average conversions. With CPV down 48%, these gains came alongside a 43% improvement in ROAS.

Memorial Day Weekend Isn’t Just for Retailers

Key takeaway: Consumers shopped outside of the box this MDW, driving results for brands beyond the typical holiday scope.

Memorial Day Weekend sales may be closely associated with retailers in industries like fashion and apparel and home and garden. That said, we discovered that while the usual MDW players did indeed experience meaningful performance growth, verticals like nonprofit, education, and healthcare also drove strong results.

When looking at all the industries of MNTN advertisers who ran campaigns during MDW 2025, non-profits landed in the top 10 for both revenue and CPA, while also ranking in the top 15 for ROAS, visit rates, and conversion rates. Education brands — spanning everything from homeschooling programs, to summer day camps, to language learning apps — captured top 10 revenue performance and top 15 rankings in ROAS and visit rates. Healthcare advertisers delivered the weekend’s second-highest revenue performance, trailing only fashion and apparel.

These findings highlight that when consumers are in a purchase-ready mindset, smart advertisers — regardless of whether their industry has historically been associated with MDW shopping — can capitalize on that intent.

The Future of Holiday Weekend Shopping is Here

The results of Memorial Day Weekend 2025 signal a fundamental shift in consumer behavior that extends far beyond a single holiday weekend. Today’s shoppers are more intentional and sophisticated than ever, using streaming platforms to inform and drive their purchasing decisions. This evolution rewards advertisers who understand that success isn’t always about spending the most, it’s about understanding the moment best and delivering relevant messaging when consumers are ready to act.

For advertisers ready to embrace new consumer mindsets, CTV offers the perfect channel to turn intentional viewers into intentional customers. MDW 2025 emphasized that CTV delivers real, measurable results even when costs peak and competition intensifies.