Changing Consumer Behavior

Goals

Determine how consumers have changed the how they interact with brands, particularly video brands and identify likely future changes. This information will be used to evaluate and better understand consumer behaviors towards technology brands that produce entertainment offerings.

Early Findings

Changing Consumer Behaviors

  • The average American is exposed to approximately 10,000 brand messages a day, so brands need to leverage consumer insights to cut through the noise.
  • An estimated 90% of consumers' purchasing decisions are made instinctively, so brands have to build a positive impression that reaches consumers on a subconscious level.
  • With the growth of social media, the attention span of the average person has decreased, so brads have to advertise with the highest quality content possible to catch consumers' attention on social media.
  • Consumers' discretionary spending, like on food away from home and entertainment, has not changed significantly between 1997 and 2017.
  • Increased spending on entertainment is strongly correlated with income group.
  • In recent years, mobile searches about brands have exceeded desktop searches, and 93% of purchases made by online shoppers are influenced by social media.

Changing Consumer Behavior Towards Entertainment

  • The media and entertainment industry has seen a 52% increase in smartphone visitor growth in 2018.
  • Over 50% of consumers between the ages of 13 and 22 say they prefer to watch multiple episodes of TV shows at a time, instead of waiting once a week.

Proposed next steps:

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