80 Marketing Trends found for Consumer Trends / Demographic

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Gender Equality Will Increase Global Growth, McKinsey Posits

Trend Summary: A new report indicates that balancing the gender scales doesn’t only help women—it also boosts a nation's economy.

A new report published by the McKinsey Global Institute posits that if women played an identical role in the economy to that undertaken by men – it would boost annual global gross domestic product by as much as $28 trillion in 2025 (or 26% of global GDP) compared with a scenario in which ...

[Estimated timeframe:Q3 2015- Q4 2025]

... nothing had changed. 

The report, released today, found that achieving parity for women (assuming they played an identical role in the global economy to that of men) could boost annual global GDP by as much as $28 trillion in 2025, or 26% of global GDP, compared with a scenario in which nothing changed.

According to the report's authors, that’s about as big as the economies of the USA and China combined and is, moreover, twice what previous studies have estimated.

The report examined gender quality indicators — from women’s labour-force participation rates to maternal mortality to financial inclusion — in 95 nations, which between tham account for approximately 90% of the world’s GDP and its population of women.

Even just narrowing the gender gap could add significantly to global economic output. If each countries surveyed advanced gender equality by matching the rate of improvement of the best-performing country in their region, it could boost growth by $12 trillion in 2025, the study found.

Increasing women’s participation in the labour force would provide the biggest boost to GDP (about half) as well as closing the gap between the number of hours worked by women and men and shifting women into higher productivity sectors.

The highest potential economic benefit would be in India, along with the rest of South Asia plus the Middle East and North Africa, all of which received the McKinsey study's lowest marks for gender equality.

“It’s a prize worth chasing,” said Anu Madgavkar, one of the study’s authors.

Read the original unabridged blogs.wsj.com article.

All data sources are attributed with links to the original insight. The insight is then summarised and, where appropriate, enhanced with additional information.

Source: Blogs.wsj.com
MTT insight URL: http://marketingtrendtracker.com/article.aspx?id=6712

Muslim Consumers of Growing Significance to Global Digital Economy

Trend Summary: Increased consumption of bespoke digital Islamic lifestyle services has spurred Islamic digital economic growth at a faster rate than its global equivalent. 

According to the [second] and latest edition of the Digital Islamic Economy Report issued jointly by Thomson Reuters and Dubai-based strategic advisory firm DinarStandard, Muslim consumers last year contributed US$107bn to the global digital economy of circa US$2 trillion. By 2020, moreover, spending by Muslims  will grow faster than ...

[Estimated timeframe:Q3 2015- Q4 2020]

... the rest of the world's digital economy.

The report recognises a substantial business opportunity in the digital Islamic economy, particularly within five segments:

  • Sharing Economy
  • Social Commerce
  • Retail e-Commerce
  • Food Transportation and Logistics
  • Islamic Finance Investment Products.

The study also identifies e-commerce serving the fashion sector as the most successful business model, citing online fashion retailers Modanisa and SefaMerve among the top five leading Islamic consumer websites.

In terms of popularity and usage, the Islamic web and mobile application Muslim Pro ranks highest in terms of downloads, while productivity and education apps, as well as apps for Halal food ratings and modest fashion, also feature prominently on the Digital Islamic Consumer Services leader board.

Comments Nadim Najjar, Managing Director of Thomson Reuters, Middle East and North Africa: “The report essentially shows how vital Islamic digital economy has become to the everyday lives of Muslims across the world, and points towards specific areas of growth and business potential".

Read the original unabridged ThomsonReuters article.

All data sources are attributed with links to the original insight. The insight is then summarised and, where appropriate, enhanced with additional information.

Source: Thomsonreuters.com
MTT insight URL: http://marketingtrendtracker.com/article.aspx?id=6711

Advertisers Up YouTube Spend by 40%

Trend Summary: YouTube advertisers have increased dramatically over the past year as big brands seek to embrace millennial consumers.

According to Ruth Porat, Google's recently apointed chief financial officer, video advertising on YouTube in 2015 to date by the top 100 US brands (as ranked by Omnicom Group's Interbranconsultancy) have already spent ... 

[Estimated timeframe:Q3 2015 onward]

... 60% more than last year.

Google-owned YouTube doesn't disclose revenue figures but the available data indicate the extent to which Larry, Sergey and Eric's nice little earner has benefited from the current explosion in demand for digital video advertising, thanks to the time now spent on the site by millennials (adland speak for the 18-34 age group).

Tara Walpert Levy, Google's managing director of agency solutions, said the company had been in “hurry up and wait mode” until it finally saw a “sudden boom in one year”.

Moreover, according to Ms Walpert, advertisers are aware that young YouTube creators are fast becoming mainstream celebrities, thanks to their own TV shows and lucrative publishing deals.

YouTube has also created a measurement system in partnership with Nielsen and ComScore, to enable marketers to compare the medium's effectiveness with TV advertising.

Growth in the amount of time spent watching YouTube videos has also accelerated, recording a 60% year-on-year increase.

Moreover, the average viewing session via mobile now lasts for more than forty minutes.

Read the original unabridged FT.com article.

All data sources are attributed with links to the original insight. The insight is then summarised and, where appropriate, enhanced with additional information.

Source: FT.com
MTT insight URL: http://marketingtrendtracker.com/article.aspx?id=6676

Briton's Time Spent Online Has Doubled Since 2005

Trend Summary: Britons are spending twice as much time online as they did ten years ago, fuelled by increasing use of tablets and smartphones.

According to new research published by UK media watchdog Ofcom in it's Media Use and Attitudes 2015 report, now in its tenth year, internet users aged sixteen and above claim to spend an average of twenty hours and 30 minutes online each week compared with just  ...

[Estimated timeframe:Q1 2015 onward]

...  9 hours and 54 minutes back in 2005.

The biggest increase in internet use is among those in the 16-24 age group, almost tripling from 10 hours and 24 minutes weekly in 2005 to 27 hours and 36 minutes by the end of 2014.

2014 also recorded the biggest increase in time spent online in a decade, with internet users spending over three and a half hours longer online each week than they did in 2013 (20 hours and 30 minutes in 2014, compared to 16 hours and 54 minutes in 2013).

The increase is partially attributed to five years of tablet computing, enabling people to spend time whilst they are ‘out and about’ - away from home, work or their place of study - resulting in a five-fold inrease over over the past ten years, rising from 30 minutes in 2005 to nearly two and a half hours (2 hours and 18 minutes) in 2014.

Overall, the proportion of adults using the internet has risen by half - from 60% in 2005 to almost 90% today.

Moreover, increased numbers of people are watching TV and video on the internet. Over a quarter (27%) of internet users regularly watch TV or films online, compared to one in ten in 2007. This rises to 39% of 16-24 year olds, up from 21% in 2007.

Additionally, watching video clips online has almost doubled over the past eight years, from 21% to 39% of internet users.

Mobile phone are now the primary device used for gaming, with over a quarter (26%) of mobile users playing games at least once a week, compared to 17% playing on games consoles.

Fifteen per cent of adults now use a tablet for gaming, with the proportion of internet users saying they regularly play games online, doubling the figure of 10% in 2005 to 22% in 2014.

Read the original unabridged Ofcom.org.uk article.

All data sources are attributed with links to the original insight. The insight is then summarised and, where appropriate, enhanced with additional information.

Source: Ofcom.org.uk
MTT insight URL: http://marketingtrendtracker.com/article.aspx?id=6596

Generation Z-ers Spend Twenty-Two Hours Weekly on Online Video

Trend Summary: Viewing online content instead of TV has become increasingly common among young millennials, likewise their successors known as Gen Z-ers.

The third annual Acumen Report, commissioned by online video production house Defy Media, found that its survey sample of Gen Z viewers (the successors to the millennial generation) averaged a staggering total of twenty-two hours of digital video content weekly, comprising ...

[Estimated timeframe:Q1 2015 onward]

... 11.3 hours of free online video (via YouTube and similar websites) plus 10.8 hours of subscription video sites such as Netflix.

By comparison, the same survey group - 350 people between the ages of 13 and 24 - viewed an average 8.3 hours of scheduled linear TV content, according to the report.

Moreover, 6.4 hours of that timespan were spent online, while almost all of the survey sample said they watch digital content, whereas just over 50% reported watching TV.

Comments Andy Tu, evp of marketing at Defy Media, an online video production house that commissioned the study: "Whether you're a marketer or a content creator, the results magnify the growing influence of these millennial consumers and further affirm that traditional media is falling short with this audience."

The report also includes in-depth interviews with eighteen pairs of friends, conducted by Hunter Qualitative Research and child psychologists at KnoWhy Research, to further understand this age groups' behaviors.

Sixty-two percent of all respondents said they prefer to consume video content digitally. Overall, more young people said they like and relate to content on digital platforms more than on TV, while nearly 70% said they relax by watching digital content, as opposed to 47% who rely on TV.

The researchers used online surveys, analysis of social media behavior and in-person conversations.

Read the original unabridged AdWeek.com article.

All data sources are attributed with links to the original insight. The insight is then summarised and, where appropriate, enhanced with additional information.

Source: AdWeek.com
MTT insight URL: http://marketingtrendtracker.com/article.aspx?id=6553

Political Marketing Bores Young Brits

Trend Summary: Despite an imminent general election in May a massive majority (86%) of young Britons still feel disengaged from politics.

A new survey conducted by UK youth marketing agency Voxburner suggests that the nation's political parties have yet to learn - let alone apply - the marketing lessons of Barack Obama’s election victories in the US. The survey reveals that a massive 86% of Britons in the 16-24 year age group disagree with the statement that politicians ...

[Estimated timeframe:Q1 2015 onward]

... "understand my world".

Paradoxically however, 68% of the survey sample (over one thousand in the 16-24 age group) agree that politicians’ decisions have a direct influence on their day-to-day lives.

Voxburner founder Simon Eder believes that British politicians have failed to heed the lessons from Obama’s successful campaigns in 2008 and 2012, when a range of tactics were used to mobilise young voters on a mass scale. 

These tactics included using social media to spark debate, organising grassroots activists and encouraging small donations to the campaign.

In 2012 Obama raised around half of his $1bn campaign fund from small donations, with email and text also used as direct marketing tools.

Comments Mr Eder: "We’re not seeing that kind of ‘Facebook election’ here in the UK.”

“By getting people to contribute dollars, Obama empowered them to feel part of the campaign, but here the money in politics still comes from a handful of people.”

However, British politicians have stepped up their efforts to engage with young people in recent weeks.

Last month, Facebook and Sky News hosted a live Q&A event in which young people were invited to put questions to Conservative Party leader David Cameron, Labour Party leader Ed Miliband and Liberal Democrat leader Nick Clegg.

Elizabeth Linder, Facebook’s politics and government specialist for the EMEA region, reports a significant upturn in election-related discussion on the social network since the turn of the year.

Says Ms Linder: “Last year, political issues were the most discussed topics on Facebook in the UK.”

“Whether it was the Scottish Referendum, the European Parliamentary Elections or the Rochester and Strood by-election, millions of people from all walks of life turned to Facebook to share their views.”

Read the original unabridged MarketingWeek.com article.

All data sources are attributed with links to the original insight. The insight is then summarised and, where appropriate, enhanced with additional information.

Source: MarketingWeek.com
MTT insight URL: http://marketingtrendtracker.com/article.aspx?id=6534

Generation 'Y' Seeks More 'Wellness'. Less Tech

Trend Summary: According to a new survey, America's so-called 'Generation Y' is turning its back on technology and embracing serenity.

US citizens born during the 1980s and early 1990s, known as 'Generation Y' in the wake of their predecessors, Generation X, are seeking a break from their smartphones and lifestyle technology. Instead, according to a new survey from digital health and wellness media platform MindBodyGreen, their quest du jour is a ...

[Estimated timeframe:Q1 2015 onward]

... break from their domineering phones and technology in general.

According to Jason Wachob, ceo and co-founder of the site which claims circa 15m unique monthly visits: “We’ve known that the line ‘Balance is the new achievement’ rings true with them for some time, but the intensity of that sentiment is surprising."

Asserts Mr Wachob: "Ninety-nine percent of our survey respondents agree with the statement that ‘more and more, I’m trying to find balance in my life.’”

The survey also reveals that 95% of respondents are increasingly focused on managing or minimising stress. “This is a group of people who are highly stressed out, and live and work in very competitive environments,” Wachob notes.

Read the original unabridged MediaPost.com article.

All data sources are attributed with links to the original insight. The insight is then summarised and, where appropriate, enhanced with additional information.

Source: MediaPost.com
MTT insight URL: http://marketingtrendtracker.com/article.aspx?id=6512

UK Millenials Go Teetotal

Trend Summary: A recent report reveals that 25% of UK Millennials are abstaining from alcohol.

The report, published by J Walter Thompson's UK research and trendspotting unit JWTIntelligence, identifies the top one hundred trends to watch in 2015. One trend in particular is likely to raise readers' eyebrows: that 25% of UK Millennials (the population segment that reached maturity around year 2000) are increasingly abstaining from ...

[Estimated timeframe: Q1 2015 onward]

 ... alcoholic beverages.

According to the report: “The face of youth is changing as Millennials become more aware of their health longevity. Fitness and health are being rebranded in hip and sociable ways.”

The report, which identifies the top one hundred trends to watch for in 2015, highlights new trends and developments in a number of areas including culture, brands, food and drink, innovation, lifestyle, luxury, retail, sustainability, technology and beauty.

In its 'Innovation' section, the report notes the rise of the Tactile Internet, citing experiments with haptic technology (tactile feedback technology that recreates the sense of touch by applying forces, vibrations or motions to the user.

Says Lucie Greene, worldwide director of JWTIntelligence: “It’s never been more important for brands to understand change, where it’s headed and what it means.”

Ms Greene continues: “The fast-paced digital world, instantly accessible information, globalisation and social media have accelerated the pace of trends exponentially. The speed of innovation is requiring brands to take both a short-term and a long-term view, planning strategies not just for next year but the next twenty years.”

Read the full JWT Intelligence report.

All data sources are attributed with links to the original insight. The insight is then summarised and, where appropriate, enhanced with additional information.

Source: MediaPost.com
MTT insight URL: http://marketingtrendtracker.com/article.aspx?id=6474

Senior Citizens AccelerateTrend to Self-Driving Cars

Trend Summary: The 50-plus age group are likely to be early adopters of self-driving cars - predicted to be a coming transport revolution.

According to Wall Street Journal columnist Laura Hedl, it won't be young adults who become early adopters of self-driving cars. More probably it will be the 50-plus age group that steers the coming revolution in transportation. Among the first developers likely to exploit this potentially moneyspinning trend is ...

[Estimated timeframe: Q4 2014 - Q4 2020]

... search colossus Google, a piondeer of the self-driving concept.

For once, moreover, Google won't have the market all to itself. Most major auto makers are already testing such vehicles.

Google, however, remains ahead of the pack and is ready to roll. In May the search giant unveiled its latest prototype car in which steering wheel, accelerator and brake pedals were conspicuous by their absence.

Brad Templeton, a lecturer at Silicon Valley's Singularity University, who consulted on the Google car team in 2011 and 2012, predicts that  self-driving vehicles still face significant regulatory hurdles, especially issues of liability and insurance.

In some major areas, however, Templeton says he can see “robocars” (his preferred word) in wide use by 2020 or thereabouts.

He also believes that older adults in particular will reap the early benefits. Says Templeton: “The realities of life just take mobility away from people as they get older. A solution to that problem is going to be highly welcomed.”

And highly profitable!

Read the original unabridged WSJ.com article.

All data sources are attributed with links to the original insight. The insight is then summarised and, where appropriate, enhanced with additional information.

Source: WSJ.com
MTT insight URL: http://marketingtrendtracker.com/article.aspx?id=6425

Young Brits Move Online for Fashion Purchases

Trend Summary: More than a quarter of young Britons (28%) now buy the majority of their clothes online, reports youth consumer insights specialist Voxburner.

However, the data also reveals that a majority of the survey sample (44%) prefer to buy their clothes on the high street. According to the Voxburner survey sample of 971 consumers, 28% of those in the 16-to-24 year age group use an online retailer's app at least once every fortnight, whilst 36% have used an app for a high street retailer during the last month. Additionally, just over one tenth ...

[Estimated timeframe: Q3 2014 onward]

... of the survey sample (12%) have used virtual sizing-tool apps such as Fitsme or Dressipi.

An additional 18% have used an app for a shopping mall such as Manchester's Trafford Centre and Westfield in London's White City area.

Says Luke Mitchell, Voxburner's Head of Insight: “Fashion has always been important to young people and many high street focused retailers will be encouraged to see bricks-and-mortar stores retain their relevance for this generation. From shopping malls and high street stores to supermarkets and charity shops, young people are prepared to shop around to find what they are looking for.”

The in-store brands that those in the 16-24 age group most liked to visit were New Look, H&M, Topshop, Primark and River Island.

Online, the preferred fashion brands were named as ASOS, Amazon, eBay, boohoo.com and New Look.

Read the original unabridged TheDrum.com article.

All data sources are attributed with links to the original insight. The insight is then summarised and, where appropriate, enhanced with additional information.

Source: TheDrum.com
MTT insight URL: http://marketingtrendtracker.com/article.aspx?id=6407

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