If you didn’t hear the news, Mary Meeker, known as “The Queen of the Internet,” is no longer working for mega-firm Kleiner Perkins. The good news is, she started her own firm, and this year’s Annual Internet Trends Report is more thorough and comprehensive than ever. It’s got over 330 slides of charts and data visualizations for everything from ecommerce growth rates to the state of interactive gaming.
Here are just a few of the many eye-opening insights that this year’s report served up in relation to the world of ecommerce:
• Unsurprisingly, the high-level stats show increasing digital reach, particularly that ecommerce has grown its share of overall retail from 14% to 15% YoY.
• Algorithmically driven ad buys now make up 62% of all display advertising, up from 10% just 6 years ago.
• Device-specific ad targeting spend allocation finally lines up with device usage, now 33% mobile and 18% desktop for both ad spend and device usage.
Amidst all the encouraging internet trends, one primary theme stood out after reviewing all 333 slides spread across nearly a dozen sections of the presentation:
Consumers are demanding convenience over fidelity.
Which screen is most ideal to consume media – a 5-inch phone or a 52-inch TV? Well, the phone has won… consumers now spend more time on mobile devices than watching TV.
Which format is ideal to take in your favorite talk show – audio or audio + video? Surprisingly, even with ultra HD screens in our living rooms and in our pockets, the market for podcasts has more than tripled in the last 10 years.
Consumers are choosing the most efficient, streamlined experience. They want to live their lives unencumbered. Technology is giving people the freedom to get up off the couch, albeit with phone in hand, to enjoy their lives.
This cultural trend means ecommerce will only continue to grow. People want an in-store experience when it’s convenient, but there’s no denying that it’s almost always more convenient to simply click “Buy Now,” even if it means waiting a day or two for the product to arrive in the mail.
Successful brands listen to their market to quickly deliver on customer desires.
To take advantage of shifting internet trends, you need to be passionately attentive to data from your market. There’s no better case study here than Amazon, truly a data company. Amazon delivers in response to consumer demand, literally!
Are you following the lead of your customers to give them what they want, not just what you think they want? This represents the heart of competitive success.
P.S. We’re privileged to have a real-time, front-row seat to consumer demand. Massive amounts of data underpin the success we achieve for our clients every day through smart, data-driven advertising. Email email@example.com to request a Custom Competitive Analysis for your brand.
P.P.S. Check out some more intriguing internet trends data from Meeker’s report below!