Technology and its impact on consumer's lives

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 Technology and its impact on consumer's lives



Meyer, M. (2018)


As the world expands, technology is more present in our 'everyday' life. The 2nd assignment of my Postgraduate Diploma with the British Academy of Digital Marketing proposed I created a presentation and a video about technology and its impact on the consumer's life. Click here to view the video! 

I have read several articles and watched a few videos to try and understand how much impact technology has in our life, and I can now affirm that since COVID-19 has started, we have used the digital world more and more. Either to do our grocery shopping or to simply be entertained. 

You can find a presentation about the impact of technology on consumer's lives on my SlideShare account. Throughout the presentation, you will find several data charts from known sources about the use of internet, impact of COVID-19, digital devices, video consumption, how customers search for information and recommendations, etc. Click here to learn more! 

Script notes for the video: 



Introduction:


Hi guys, welcome to my first video on my YouTube Channel. In this video, I am going to take through the impact that technology  has had in the consumer’s live, I will also be giving you a brief description of what Internet is,  the digital devices and the impact COVID-19 has had in the way we use technology.


History of Internet:

Internet is a vast network that connects users all over the world. The Internet emerged in the US in the 60’s/70’s, but it was only in the 90’s that became visible to the users. The personal computer introduced in the 80’s was a big factor for the commercialisation of the internet.


Timeline of the Internet:

In ‘65, the first ever WAN is established. The first ever online message was sent in ‘69. The rise of the LAN started in 70’s, and in ‘83 the Domain System name was born. In ‘87, the first ever router is shipped by CISCO. In ‘90, Tim Berners-Lee invented HTML. And finally, in ‘91, the world wide web went mainstream.

Internet users:

Since 2017, we have seen a big increase in the number of people connected online. In the space of 3 years, from 2017 to 2020 there was over 1 billion new internet users. Nowadays, we can confirm that there are over 4.5 billion internet users all over the world.

Internet speed:

The Internet speed has improved drastically in the past few years. When the first broadband products were in the 2000s,  ADSL and cable, these would offer up to 5 mbps. Nowadays, these are being replaced by fiber optic that offers up to 1gbps download speed. This is a massive increase in the space of 20 years, something that would take you 3 to 4 days to download, now will take you 10 seconds.


Digital devices:

In the last few years, we have seen a massive increase in the number of digital devices. Simply by wearing your smartwatch or having your smartphone on you, you can be online anywhere now. The most common digital devices are laptops, tablets, console games, smartphones, and few others.

Search queries (take through the types of search queries):

There are three types of search queries. These can be navigational search query, this is when the user wishes to visit a website and uses the search engine to navigate there; transactional search queries, when the user has the intention to purchase a service or product; informational search queries, when the user is looking for certain information using search engines.

Search engines:

There are several search engines available on the web. The most common ones are Google, Microsoft Bing, Yahoo, Aol, and a few others.

Online advertisement:

Online advertisement has a big impact in the consumer’s live, and it is present everywhere that we navigate on the web. However, the newer generation is happy to pay for a subscription if they can have an ad-free experience. A good example of this, is video & music streaming, where customers will happily pay a monthly subscription so they can have this ad-free experience.

Online shopping:

Online shopping has had a big increase in the past years. In the US, there are over 263 million consumers shopping online. Millennials (25 to 34 years old) are the largest group of online shoppers. 54% of US consumers prefer to shop online. There are important features that online stores must keep in mind to give the consumer a better online experience, such as give an easy search and navigation, offer product ratings and reviews, as well as having a fast and convenient check-out process.


E-commerce statistics:

Amazon is still at the top of the list for the leading e-commerce platform. Per a study done by Statista; Argentina, Canada & Singapore have had the biggest increase in e-commerce sales growth in 2020. Overall, there was of 25.7% increase in e-commerce sales growth worldwide.


Covid-19 video consumption:

Covid-19 has had a big impact on video consumption. A study done by Snapchat has confirmed that 61% are watching more videos on social media, 65% are watching more videos on streaming apps using a TV and 52% are watching more videos on streaming apps using a smartphone.

Covid-19 time spent online:

A study done by Forbes has concluded that was a big % of increase in the time spent by user on each of the internet channel during the pandemic. 48% on Social Media, 47% on News websites/apps, 47% on streaming services, 45% on TV apps and 39% in video/mobile games.

Increase of use of technology:

After everything that we’ve discussed in this video, we can now confirm that the use of technology has increased massively in the past few years. Covid-19 has had a big impact for this change. The stay-at-home restrictions all over the world has made the population find different ways to do their shopping or simply be entertained.

Consumer trends:

And finally, but not least, the consumer trends for 2022: 
1st Consumers are not willing to purchase from business that don’t meet expectations. 
2nd Consumers are expecting the customer experience to improve. 
3rd Consumers are expecting to be heard. 
4th Consumers are expecting to be treated as people, and not just data.

End/Conclusion:

With this, we can of course conclude that in 2022 companies do need to change the way they approach their customers, and they do need to improve the customer experience.  I will leave a link down there for my SlideShare account where a presentation will be available. I will also leave a link for my blog where there will be script notes for this video. I hope you find it useful, and if you have any questions, you can always leave a comment. Thanks for watching and until the next video!


I hope you find this to be useful, and thanks for reading my blog. 



Until the next post,

Vitor. 👊






“The advance of technology is based on making it fit in so that you don't really even notice it, so it's part of everyday life.” - Bill Gates, Co-founder of Microsoft.









Reference list: 



Meyer, M. (2018) [photo]. Available at https://unsplash.com/photos/SYTO3xs06fU.
Forbes (2020) [article] 'Global Online Content Consumption Doubled In 2020'. Available at https://www.forbes.com/sites/johnkoetsier/2020/09/26/global-online-content-consumption-doubled-in-2020/?sh=65c52e62fdeb












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