How consumers use technology and its impact on their lives
Please see below my links to my video presentations, powepoint presentation, and the script i used to deliver them.
Hello and welcome today I’m going to talk to you about how consumers use technology and its impact on their lives. I am also going to show you where the digital opportunity is going to be for the future.
4- As of January 2020 the total global Internet usage is around 4.5 billion people. That is around 57% of the worlds population.
5- The global penetration of the Internet from 2005 to 2019 has grown by around 35%. Developed countries have a penetration today of around 81–82%. Developing countries are around 42%. Less-developed countries are around 20%. As you can see there is opportunity to achieve greater internet penetration, although this will have its challenges.
6- Download speeds globally have also increased dramatically in the last 2 ½ years rising 37% for fixed broadband and 21% for mobile. This gives people the ability to get to where they want to be digitally a lot quicker. This means a better and quicker user experience making people more likely to use the Internet for their various tasks.
7- Global Internet download speeds are sitting at an average of 32 MBPS for mobile and 73 MBPS for fixed broadband. South Korea are leading the way on the mobile platform at 103mbps and Singapore are leading the way for fixed broadband, performing at 200Mbps. Showing what speeds can actually be achieved worldwide given the right infrastructure, paving the way for better speeds for all.
8- Enterprises in the global economy are trying different ways to enable as many people in the world as possible to be able to access the Internet. Facebook has introduced internet.org to provide basic Internet access for developing countries. Google has created project Loon; this project is launching solar powered balloons into the atmosphere this will grant Internet access to Rural and remote locations. And the US based company Jana, wants to introduce free Internet for all, which will be funded by advertising. This just shows that big business around the world can see the potential for opportunity when a greater amount of people have access to the Internet.
10- The types of digital devices that people use, have changed over the past 10 years. As of 2018 78% of people owned a smart phone. 75% of people own a laptop. And 58% of people own a tablet. These are the three main devices that people are using to access the Internet.
11- In a comparison of digital devices between smart phones and a PC or laptop people deem smart phones the most important device to access the internet. More people are now owning smart phones and that trend continues to increase. In comparison the amount of people owning a PC or laptop is decreasing. These trends are forecast to continue with smart phones leading the way as the digital device of choice.
13-The way people search the Internet for information comes in four different categories, they search for informational queries, navigational queries, transactional queries and for buying queries. For example, 66% of smart phone users turn to their phones to look up something they saw in a TV commercial. 82% of smart phone users use a search engine when looking for a local business. 91% of smart phone users turn to their phones for ideas while doing a task and 82% of smartphone users consult their phones whilst in store deciding what to buy. These quick statistics show the dependency people have on the internet when making a decision.
15- So what else are people doing with their time on their smartphone? As we all know a lot of time is spent on social media platforms. Facebook leads the way with the average millennial spending 69 minutes a day on this platform. Instagram not far behind with 52 minutes a day. Texting is 3rd with an average of 43 minutes.
22- Mobile video content doubles every year. 85% of consumers want to see more video content from brands. Social video generates 1200% more shares than text and image content combined. These 3 video stats tell us that mobile video has to be the area of focus for the future, benefitting both consumer needs and enabling business to generate more revenue.
17- Global e-commerce is currently booming in 2019. Global sales hit US$3.5 billion. E-commerce sales are predicted to increase, nearly doubling by 2023.
18- So now you are asking, what are consumers going to spend all this money on and why online? People are choosing to shop online instead of in stores, for a number of reasons. The top three reasons are the ability to shop 24–7. Next is the ability to compare prices with other products and finally, they believe they can get a better price online.
16- The 3 most purchased products online are consumer electronics with 69% of all sales, books at 67%, and clothing and apparel at 63%. This current trend may show us the areas of opportunity for the future in global E-commerce sales.
In summary then I believe from the research that I have conducted that the number of people that are going to be able to access the internet will continue to grow. The rate may level off at some point due to economic challenges, but technological advancements and the next generation of people will overcome this. At the same time technological advances will continue to make the internet faster with some countries showing how this can be achieved already. Smart Phones are going to continue to be the digital device of choice to access the internet with more people spending more time online and spending more money online showing the opportunity for brands to advertise using video to tap into the greater audience and accessing the opportunity to make more revenue.
Digital is the future. It is time to adapt and take the opportunity early.