10 Consumer Trends by Ericsson ConsumerLab (Part 2)
On the second part of our analysis on the findings of Ericsson ConsumerLab’s 10 Hot Consumer Trends 2014 report, we look at the second half of the findings from the report. Check out the first part of the series here. The findings are based on interviews with over 100,000 individuals from 40 countries and in 15 cities.
Table of Contents
Online Benefits Outweigh Concerns
Ericsson’s study shows that 56% of Internet users in the U.S., Mexico, Thailand, Sweden, Pakistan, and Egypt are worried about their privacy but only 4% will use the internet less. What the study found is that 93% of these users will use risk mitigation strategies such as being more cautious about the information that they share online and being more cautious about the sites they visit.
The findings show that the majority of people overcome their privacy concerns in order to take advantage of the many benefits of going online. You could interpret this finding with the second finding of the report that people want to use biometrics to further stay safe online.
Video on Command
Our friends have the most influence on our choice of what videos to watch according to Ericsson’s study. The study found that 38% of respondents say that they view video clips several times a week and these are the ones that their friends recommended. The findings are based on 5,000 smartphone users in 10 major cities. Of this sample size, 22% say that they recommend videos to their friends several times a week.
The findings highlights the power of online social networks. It shows just how important it is for video sites to include social media buttons on their sites that make it easy for their viewers to share their content to friends.
Making My Data Visible
Consumers want to make sure that they are not overcharged for the data that they are using and 48% of 7,500 smartphone users in Tokyo, Beijing,, New York, Sao Paulo, and London say that they use apps to monitor their data consumption. Of the 7,500 respondents, 38% want to know how much data they use while 35% do not want to exceed their data cap.
Carriers can take note of these findings and offer apps to their customers to help them monitor their data consumption easily. Carriers can also provide mobile plans that protect their consumers from bill shock.
Sensors in Daily Places
Around 60% of smartphone users believe that sensors will be everywhere two years from now. These sensors will be on cars, homes, and offices. Twenty-eight percent believe that sensors that let doors open automatically for authorized people will be available within 3 years while 30% believe that cars fitted with sensors that help them avoid accidents will be available within 3 years.
Google and many car companies are already working on driverless cars so the people who predicted these may probably be right. These cars will be outfitted with sensors and another tech that will make it safe to transport people although laws will have to be in place before these become a common sight on highways. The liability for accidents will be a particularly important topic to clarify for driverless cars.
Play, Pause, Resume Elsewhere
People are also changing the way they watch videos. The study found that people consume streaming video from work and school, at other people’s homes, in a vehicle, at restaurants, and even when they’re out and about. Respondents also switch from watching videos inside their homes to outside their homes and vice-versa. Advertisers still allocate a huge part of their budget for TV spots so advertisers may want to take into consideration the changing habits of people on how they consume video.
The trends that Ericsson sees will happen in 2014 shows the huge impact of technology, particularly the Internet, on the habits of consumers. These trends will only accelerate as broadband Internet becomes more widely available throughout the world.
Back to Part 1
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