Will 5G bring the tech benefits that consumers and marketers expect?
Through a special arrangement, presented here for discussion is a summary of articles from MarketingCharts, which provides up-to-the-minute data and research to marketers.
According to a Verizon survey of 295 advertisers, about half (49 percent) believe one of the benefits of 5G is that it will provide a better customer experience, while close to half (47 percent) likewise view it as an opportunity to use new or additional creative formats.
Other benefits that advertisers predict include advancements in real-time location-based targeting (46 percent) and better access to high-quality data (43 percent). A third of advertisers are already planning for 5G.
An accompanying survey of 1,779 consumers finds seven in 10 people have heard of 5G. Young consumers between 18- and 34-years-old are the most familiar with the technology, with around 23 percent being “extremely familiar.”
Not surprisingly, 72 percent of consumers are most excited about the prospect of faster data transfer. With many smartphone users of every age streaming video from social media and apps on their phones each day, it’s also no wonder that consumers said that high definition video content (57 percent) and consistent and constant video streaming (54 percent) were features they were excited for.
Half of the consumers surveyed said they were excited about better and faster connectivity for wearables. Data from the Consumer Technology Association (CTA) from July 2018 shows that wearables are increasingly becoming part of everyday life. Three in 10 U.S. consumers own wireless earbuds, 25 percent use wearable fitness trackers and 18 percent own a smartwatch. Even VR headsets are making their way into U.S. households, now at 11 percent penetration.
Advanced technologies like artificial intelligence (AI) and augmented reality (AR) could also benefit from 5G. The majority of consumers (85 percent) believe that 5G will benefit AR while eight in 10 believe it will also benefit AI-powered experiences.
- Benefits of 5G Technology Appeal to Consumers And Advertisers Alike – MarketingCharts
- The 5G revolution – Verizon
- 3 Interesting Stats on Youths’ Emerging Video Viewing Methods – MarketingCharts
- The Nielsen Total Audience Report: Q1 2018 – Nielsen
- This Chart Reference Guide Provides Updated Household Penetration Rates for 26 Tech Products – MarketingCharts
- Smartphones Approaching TVs as Americans’ Most-Frequently Owned Tech Product, Says New CTA Study – Consumer Technology Association
DISCUSSION QUESTIONS: Where do you see the main benefits from 5G networks for retailers as well as consumers? Where should retailers be investing now to capitalize on related opportunities and overcome any likely challenges?