From the Desk of Timothy Seward: Internet Trends, Data Hunger, and Business Agility

Timothy Seward CEO AuthorPublished July 4, 2019

 

 

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:

screenshot from 2019 internet trends report of media time vs. advertising spending

  • 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. 

image from 2019 internet trends report comparing mobile to tv time

 

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. 

image from 2019 internet trends report showing amazon annual revenueTo 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.

Carpe Diem,

Timothy Seward

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 analysis@roirevolution.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!

data from 2019 internet trends report displaying digital media usage increase
US consumers are spending increasingly more time on mobile devices and less time on desktops.

 

data from 2019 internet trends report displaying ecommerce share as percentage of retail sales
Ecommerce has increased drastically as a significant driver of US retail sales.

 

data from 2019 internet trends report displaying annual internet ad spending
Mobile advertising spend now beats out desktop advertising spend.

 

data from 2019 internet trends report displaying video watching daily minutes on digital vs TV
US consumers now spend significantly more time watching digital video.

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