Share the Knowledge
How Consumers use Technology and its impact on their lives
Assignment 2
Script Notes
Introduction
- Ecommerce revolutionised shopping and consumerism
- Putting stuff on the shelves no longer cuts it
- Experiential shopping the expectation
- A network designed to connect US Government offices took over the world.
- This medium which allows consumers to:
a).
make competitive choices
b).
research
c).
satisfy their individual needs.
d).
led to the expectation of top quality service.
- From 16 million or 0.4% of the global population in 1995 to 4157 million or 54.4% in 2017.
Devices
- Huge increase from PCs in the 1990s to multiple ways to access the internet in the last decade:
- Smartphones (predicted to be 30% of all IP Traffic by 2020). Smart TVs, Laptops, Game controllers, fridges, in car sat navs.
- Any device with a sensor of some form of control technology can be connected to a WIFI network. (Public Networks) 64 Million in 2015 to 432 Million.
How Consumers search for information
- Change from traditional linear via television, a catalogue or brochure to the local store to a constantly moving target of a website, social media, and individualised digital marketing.
- Change from a few brands that dominated the internet in the 90s (eBay, Amazon, google, Hotmail), to blogging sites such as Tumblr, WordPress and the rise of social media and apps.
- Active dialogue with companies via Social Media.
- Influencers make or break a brand or product.
What Consumers Buy
- Amazon / eBay sell to each other (You can find anything online), and write reviews.
- Eliminate the middle man
- Any time of day to any location.
- Rise of eBooks / services, music files and software, TV and Film streaming.
- Website supply, webinars, professional development and autonomy, entrepreneurship.
- Start their own ventures, find mutually beneficial collaborations.
Video Consumption
- Exponential increase in the last 5 years. Expected to be 82% of IP traffic by 2020 up from 68% in 2015.
- Equivalent to 3 Trillion minutes a month, 5 million years per month, 1 million minutes every second.
- Average America Surfer 5 ½ hrs of online videos per day, in the shape of..
- Blogs, podcasts, videos, webinars, tutorials.
Consumer Trends
- Stunning rise of ecommerce due in part to friendlier and in turn better phones all means the barriers between seller and buyer are greatly reduced.
- Things such as seamless shopping, free 1-day delivery, 1 click purchase, easy online returns – now the expectation / perceived minimum.
- The rise of the use of AD blockers has also added to the seamlessness and user friendly online environment.
- Personalisation means optimisation of revenue due to smarter algorithms and digital analytics.
- Meaning the sale conversion rate is optimised.
- As the user experience improves so does revenue received.
- Better targeted comment, social media campaigns and apps have also facilitated this.
- Such as… AR integrators (app) see the product in your room just by pointing the phone at the coffee table.
- VOIP / Facial recognition software also contributed.
- Social Shopping purchases made via FB, Instagram and Pinterest as the impulse buy has been not catered for
- Rise of price comparison websites. All this meant that…
- 65% of Black Monday sales on Shopify in 2017 made via a smartphone. 35% of total ecommerce purchases, predicted to by 40% for 2018.
Summary
- Empowered not only in terms of purchasing experience but to build a business, as well as finding a partner and improvement of social life. Personal freedom.
- GDPR – even more security and peace of mind.
- Popular entertainment also now highly digitised – no adverts on Netflix or other streaming sites.
- Process if you need something is now:
a). go online b). research and read reviews/watch demos.
c). purchase and d). receive in 1 day. All can be done 24/7, 365 days a year from a smartphone.
Slideshare link: https://www.slideshare.net/MattThomas107/how-consumers-use-of-technology-and-its-impact
Youtube link: https://www.youtube.com/watch?v=17i4unSd05A&t=24s