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The Future Consumer

Ad-supported free content still appears to be the preference for most consumers into the near future

Photo by Helena Lopes on Unsplash

MiQ have released a new white paper around ‘The Future Consumer’, just in time as 2020 rolls around. The research uncovers some new statistics around 5 key pillars: Shopping, Media Consumption, Connected Homes and Smart Cities, Health and Wellness and Banking and Payments.

A sneak peek of some interesting insights from the white paper:

  • Growth of new channels
  • New channels, particularly wearable and voice-enabled tech will shortly account for a significant market share.
    • Around the world, the survey results show that there is expected to be a 91% increase in the use of wearable and a 201% increase in voice-activated devices for purchasing online over the next two years.
  • Free content > Ad-free experiences
  • Ad-supported free content still appears to be the preference for most consumers into the near future. Around the world, we prefer free or ad-supported content over ad-free content via a subscription service
    • Worldwide, about half of consumers (51%) agree that advertising is a necessary trade-off to get the content they want.
    • Men are slightly more likely than women (40% versus 30%) worldwide to agree that they don’t like ads but wouldn’t pay for ad-free versions of most of their content.
    • For advertisers: the challenge of moving into new platforms and channels is how to move past being a burden or obstacle and become something less onerous for the consumer, particularly for women.
  • How we consume news
  • Globally, only 15% of people prefer newspapers and radio as their preferred primary news platform. Websites and online account for a total of 31% overall.
  • For this category, the age gap is significant: One third (34%) of 18-24 year old rely on social media as their main source of news, compared to 18% of people overall.

Read the full white paper here.

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