By Justin Biel, trends editor at Grow Wire
Legendary tech VC Mary Meeker released her yearly Internet Trends report at Recode’s annual conference last week. Considered the most comprehensive study of global online behavior, Meeker’s study is a must-read for anyone looking to stay up-to-date on tech trends.
Overall, the 294-slide report has a cheery outlook for online business and the tech world. Here are 10 of Meeker’s most game-changing points, which could very well impact your business this year.
1. Half of the planet is now online.
In 2009, only 24 percent of the world's population used the Internet. Today, 49 percent of the population is online, per Meeker’s report.
2. We spend six hours per day staring at screens.
Since 2009, U.S. adults have doubled the time they spend with digital media. Today, we spend 5.9 hours staring at screens daily, according to Meeker’s report. That’s a 4 percent increase from last year.
3. Digital currency is HOT.
Adoption of digital currency continues to rise: Coinbase, a digital currency exchange site, quadrupled its user base in the 2017 calendar year.
4. Online behavior affects offline connections.
Online platforms like Next Door, a private social network for neighborhoods, increasingly influence users’ offline activities.
Voice-learning technologies, like those used in household smart speakers, are getting more accurate. And they’re on the rise: In Q3, the number of installed Amazon Echo bases jumped by about 20 million units, per the report.
6. Data collection is a double-edged sword.
Overall, data collection provides better consumer experiences, but responsible data usage and data protection are hot-button issues.
7. Ecommerce isn’t going anywhere.
Ecommerce spending accounted for over $400 billion in sales in 2017, a 2 percent increase from last year.
8. Amazon owns more than a quarter of ecommerce.
With over $829 million in gross merchandise value, Amazon now owns 28 percent of the total ecommerce market.
9. Millennials shop based on social media.
In a survey of 18- to 34-year-olds in the U.S., 55 percent said they purchased a product after discovering it on social media, as cited in Meeker’s report.
10. Online advertising is a wide-open frontier.
Meeker says that because adults are online so much, there’s a $7 billion opportunity for online advertisers.
Now THAT’S what we call a chance for growth.
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