Use of technology and its impact on consumers
• The internet allows computer networks around the world to talk to one another.
• The web is a way to view and share information over the internet. Information, be it text,
music, photos or video is written on web pages served up by a web browser.
• The internet has changed the world around us, consumer behaviours. The competition in
the online shopping space is becoming increasingly fierce. Streaming Videos, Social Media
Websites have transformed the way people react/behave to situations.
• The internet has become so ingrained in our lives that an internet connection failure can be
destructive to a retailer or professional business, government organisation exposing them
to the risk of lost revenue, reduced productivity, customer complain, loss of information.
• The internet is here to stay. We’re the ones who have to change.
Access to the Internet
Approx. 4.93 billion people have access to and use the internet frequently. This
means that 63.2% of the world population uses internet.
Asia continues to account for the majority of the internet user, which makes 51.8%
of the global internet population.
North America and Europe are the two regions in the world with the highest
penetration rates. In January to February 2020, 96% of households in Great Britain
had internet access, up from 93% in 2019 and 57% in 2006 when comparable
records began.
The internet has become so ingrained in our day-to-day lives that the UN recently
announced that access to it is a basic human right.
Ultrafast broadband is available to over 50% of UK premises for
the first time.
Full fibre investment is starting in some areas of the UK, with
speeds up to 1GB a second.
The below figures are for the year 2021
The below figures are for the year 2021
Digital Devices Used by audience
71% of the global population accesses the internet using smart phone.
The above diagram provides pictorial representation of time spent on Mobile Apps.
Digital Devices used by the audience:
The smart phones are used extensively to access the internet.
The above gives a pictorial representation of the different devices used to access the internet.
How consumers search for Information
In today’s digitalized world, search engines have become one of the most
powerful tools on the internet and an essential part of our daily lives.
Google is a leading search engines with market share of 87%. Below
bar graph states the details of the different search engines available.
The above depicts the information in pictorial format.
Consumer Buying Trends
• Internet access on the smart phones has made the access to Internet even more
easy.
• Increased internet penetration has led to increased online shopping.
• The online shops need to use innovative ways to attract consumers. Product
reviews, short videos explaining the features of the product are a few tools used
to market the product.
• Traditional shops have also invested heavily in logistics, supply chains and have
widened their product range.
• Consumers using multiple devices at the same time has made access to
information easy.
• Due to the pandemic people are now used to buying products online and shift and
hop various shopping sites I order to buy their product. Brand Loyalty towards a
particular product is decreasing.
Consumer Buying Trend in the UK (online)
The above is a pictorial representation of the latest buying trends.
Video Consumption Stats and Facts
Video is the number 1 source of information for 66% of people
Over 500 million people watch Facebook videos every day
More than 75% of all video views come from mobile devices
The global video market was valued at $39.61 billion in 2018
YouTubers upload 300 hours of video content to the platform every minute
93% of businesses gain new customers as a result of branded video content
People spend an average of 6 hours and 48 minutes per week watching online videos
66% of people opt to skip online video ads
How the use of technology has changed over the past 3-5 years.
New technology has empowered consumers. Consumers have unlimited access to
information and demand products and services when they want. Social media has
given consumers a bigger voice and new channels to communicate with brands
and share their opinions with peers.At the touch of a click a consumer is able to
buy any product from any corner of the world and get it delivered to their doorstep.
Companies are using Virtual Reality, Artificial Intelligence, Robots, Drone delivery
to differentiate themselves.
From interactive ‘self check ins’ at airport, web chatting with customer service to
using the streaming service to watch movies etc. at home, Technology is playing a
much more fundamental role in managing the interface between shopper and seller
Consumer trends- the changing trend
The above is a pictorial representation to the topic.
Conclusion
• Technology has changed the way human functions. It has become one of the key
drivers Of social evolution.
• The pandemic has changed the consumer shopping behaviour. Reports suggest that
Online Shopping is here to stay.
• The number of people using Digital device has increased manifold.
• Multiple use of Device has increased manifold. To gather data for product, price
comparison has become easy for consumers. Product reviews are playing a big role in
influencing people’s buying decisions.
• Increased internet penetration levels have led to increased online shops. Tradition
and Online shops need to use innovative ideas, creative and impactful (short)
videos, technology to market their products.
• The internet is here to stay, let’s use its power to communicate with the right
people in order to make our life convenient and for the better of the society.
References
• 2021 E-commerce Trends and Statistics in the UK (osome.com) accessed
10/02/2022
2021 E-commerce Trends and Statistics in the UK (osome.com) accessed:
10/02/2022
https://increasily.com/what-are-the-5-ds-of-digital-marketing/
accessed:10/02/2022
https://wearesocial.com/uk/blog/2021/01/digital-2021-the-latest-insights-into-
the-state-of-digital/ accessed:10/02/2022
https://www.broadbandsearch.net/blog/internet-statistics
accessed:10/02/2022
https://www.finder.com/uk/internet-statistics accessed:10/02/2022
https://www.mckinsey.com/business-functions/marketing-and-sales/our-
insights/the-great-consumer-shift-ten-charts-that-show-how-us-shopping-
behavior-is-changing accessed:10/02/2022
https://www.ons.gov.uk/peoplepopulationandcommunity/householdcharacteris
tics/homeinternetandsocialmediausage/bulletins/internetaccesshouseholdsandi
ndividuals/2016 accessed: 10/02/2022