Early last year, Forrester published a report profiling digital natives — youth ages 12 to 17. They've grown up in a world of rapidly evolving technology, to the extent that they can’t imagine life away from their devices. While digital natives weren’t yet heavy online buyers in early 2012, they often engaged in dialogue about products and brands and were receptive to advertising. Since then, young online consumers have continued to adopt devices and deepen their roots in the digital world; today, around 45% of this young audience uses a smartphone.
Characterized by their vibrant online presence and shaped by a culture of increasing connectivity, digital natives offer a new window of opportunity for marketers — one that stems not only from the audience’s advertising receptivity but also from their rapid adoption of digital commerce.
Forrester’s Consumer Technographics® data shows that mobile commerce among US online youth has increased over the recent years; today, nearly half of young online smartphone users purchase digital or physical products on their mobile phones:
eCommerce is becoming more globally pervasive. Therefore, retailers must continually adapt their expansion strategies to reflect changing retail consumption behaviors. But what makes a country ready for eCommerce? When making investment decisions, it's certainly important to get the facts about macroeconomic conditions, Internet access, and consumer market size. However, there is much more driving the eCommerce market.
In order for firms to get a full view of a country’s online retail readiness, they must also consider its online activity, consumer payment behavior, and postal courier infrastructure. In a recent study conducted by Forrester's ForecastView team, we investigated 55 global economies to discern the readiness of each eCommerce market. The underlying quantitative framework captures 25 variables under four pillars: consumer behavior, merchant adoption, macroeconomic conditions, and the retail opportunity. The analysis is distilled in the Forrester Readiness Index: eCommerce (FRI).
It's been more than a year since Forrester published its original Facebook factor report, which quantified the impact of a Facebook fan on brand interactions for US online adults, and social media has only become a bigger part of consumers’ online experience. Social media is engrained in the lives of US consumers, and we found this to also be true for US youth. Our latest report, “The Facebook Factor: US Online Youth” answers the question, “How much more likely are youth Facebook fans to purchase, consider, and recommend brands than non-fans?” We also analyzed youth engagement with brands on other social networking sites like Twitter and Google+. As in the original report, we used logistic regression modeling to uncover the effect of Facebook fans or Twitter followers on brands for the youth market.
In the report, we analyzed the “Facebook factor” for four brands that are popular with youth: Converse, Disney, iTunes, and Starbucks. We found that US online youth who engage with these brands on social media are much more likely to have made a purchase from, consider, and recommend each of these brands than non-engagers.
As the sun sets on the summer season, I made one last getaway to a local island to enjoy the final moments of warm weather. While this small, remote island offers a chance to disconnect, it doesn't forsake the conveniences we are accustomed to in the process. Despite my lack of cash to hand, making a purchase from the small businesses at a rustic farmer’s market couldn’t have been easier — thanks to the vendors’ alternative mobile payment option.
Leveraging new devices for complex tasks that involve sensitive information or personal data demands consumer trust. The mobile payment adoption curve has been gradual for several reasons, one of which is the lack of trust, but recent news hints at the impressive connections that become possible once consumers put their trust in a service. PayPal recently announced several updates to its mobile phone application that make the app as relevant, complex, and functional as a mobile wallet. By winning the trust of a vast consumer base, PayPal is able to introduce more advanced features with the knowledge that consumers will seamlessly engage with the new offerings.
In fact, Forrester’s Consumer Technographics® data shows that US online adults trust PayPal more than any other financial institution to act as a mobile wallet platform:
In my previous post, I covered the increasing popularity of "infographics" — both the term and the wide range of examples. I cautioned against unthinking imitation; like most trendy things, their surface shine can distract from their bad qualities, and it’s easy to lose sight of basic principles and objectives. And this distraction is partly to blame for the currently polarized perception of bar charts, which are seen as both antiquated and ideal.
Both Forrester clients and internal colleagues often tell me “We want something better than bar charts” when describing how they would like to see their data visualized. At the same time, I also hear from others, jaded by the onslaught of overdesigned data graphics, who insist there is nothing better or more accurate than bar charts when it comes to visualizing and comparing data points. They don’t need all the “bells and whistles.” “Edward Tufte!” they cry.
So, what’s causing this divide? How can a chart type be so polarizing? I think the answer lies in both the implied perception of bar charts as this basic, limited chart and the array of bad examples of both alternative visualization methods and bar charts themselves.