Gen Z, smartphones, consumer confidence: 5 interesting stats to start your week

We arm you with all the stats you need to prepare for the coming week and help you understand the big industry trends.

Mobile web traffic rises 16%

Almost two-thirds (64%) of web traffic for brands came from smartphones in 2020, a 16% increase from 2019 as smartphone use accelerates among consumers.

The analysis of 20 billion web sessions shows consumers browsing luxury shopping chose mobile devices as their preferred browsing method, with 76% of hits originating from mobile. The beauty (72%) and apparel (70%) industries followed, with nearly three-quarters all online visits on mobile.

Despite the increase, research shows 49% of mobile users bounce after viewing just one page.

For financial services and B2B industries, visitors preferred website access on work computers and large screens to complete transactions.

Mobile app use surged last year with mobile app screen views up by 202%. Time spent on mobile apps peaked at the start of the pandemic in March when session times increased 91%.

Source: Contentsquare

Consumer confidence shows signs of recovery

Consumer confidence increased by seven points to -16 in March. Each of the five measures that make up the overall index score – personal finance over the past 12 months/next 12 months, general economic situation over the past 12 months/next 12 months, major purchases – have improved compared to February, showing consumers are feeling more optimistic about their economic situation.

The consumer view of the general economic situation over the next 12 months has surged upwards by 13 points to -17. In January the measure languished at -44, before rising to -30 in February.

Consumers’ confidence in their personal financial situation over both the past 12 months and the coming 12 months has risen by six points to -2 and 10, respectively.

Confidence in making major purchases, meanwhile, is up by eight points to -11. The measure was at -24 in January 2021 and -19 last month.

Source: GfK

Quality, ethics and cost are key for Gen Z

Nine in 10 young people (87%) pay attention to a brand’s ethics when making a purchase. A quarter (24%) of Gen Z say ethics is the most important factor when choosing a brand, this is topped only by quality (50%). Cost (23%) is the third most important consideration.

Gen Z consumers were forecast to account for 40% of the global audience by the end of 2020, showcasing the purchasing power of young people.

Two-thirds of 16- to 24-year-olds say they research a brand online when it comments on a societal issue, with just 6% simply believing what brands tell them.

An overwhelming majority (95%) of young people say brands should be involved in societal issues. Over half (53%) say it’s important for a brand to support causes on social media and in real life.

Seven in 10 (69%) respondents say brands should also ensure they support societal issues by making internal changes too.

Source: Beatfreeks

Media and marketing firms suffer most security breaches

Media and marketing companies are the most likely to suffer from security breaches, with 52% of firms experiencing a breach in the last year. This is followed by business and consulting firms (46%) and healthcare organisations (41%).

Overall, one-fifth (20%) of companies have experienced corporate security breaches since implementing working from home (WFH) as standard protocol due to the pandemic.

Firms have ramped up WFH by 20% as the government issued stay at home orders to stem the spread of Covid-19.

Source: Reboot Online

UK consumers poised for £50bn spending spree

UK consumers look set to go on a £50bn spending spree once coronavirus restrictions are lifted, with holidays and eating out at cafes and restaurants top of the list.

The restrictions have seen 46% of households accumulate higher than normal savings in the past year. However, 26% of the £192bn savings made since the start of the pandemic in March 2020 will be spent.

Some 34% of savers plan to spend on travel and accommodation for overseas holidays, while 29% are looking to splash out on domestic holidays in 2021. A further 28% plan to spend more in restaurants and cafes once the restrictions lift.

Source: Scottish Friendly/CEBR

Recommended

Comments

    Leave a comment