1. The growing authenticity crisis in influencer marketing
Nearly half of social media users believe influencer and brand partnerships are inauthentic, and that influencers work with brands they don’t believe in.
This is damaging for the reputation of both brands and influencers, with 61% admitting they have unfollowed or considered unfollowing an influencer that promoted too many products.
Source: Splendid Communications
2. Facebook loses younger users to Snapchat and Instagram
Facebook is still the most popular social network in the UK, but it is losing share to Snapchat and Instagram among people aged 12 to 24.
Facebook has 32.5 million users in total in the UK, with Instagram on 16.7 million people, Snapchat on 14 million and Twitter 12.6 million.
3. The disconnect between marketers and consumers
While 82% of marketers believe they have a deep understanding of who they are trying to reach and 48% consider themselves innovative, just 23% of consumers think the same.
90% of marketers are prioritising customer experience in a bid to boost demand and loyalty, but 67% of consumers see their engagements with brands as primarily transactional.
4. Business confidence in the UK economy drops
Business confidence in the UK economy has fallen into negative territory, falling from a net score of 6% last month to –3% in August.
Nevertheless, companies are planning to hire, with a net balance of 10% set to increase headcount, although this is the lowest level for a year.
Source: Recruitment and Employment Confederation
5. Consumers head to the discounters
Lidl has overtaken Waitrose to become the seventh biggest UK supermarket, as pressure on household budgets sees consumers head to the discounters.
Lidl’s sales were up 18.9% over the past three months, with 10 million households shopping there. Aldi’s sales were up 7% while Tesco saw the biggest rise of the big four with sales up 3%.
Source: Kantar Worldpanel