Just over half of consumers (54.3%) believe it’s important to be equipped with the latest technology. According to a December 2020 GroupM study, males, younger people and higher income households all “completely agree” with the statement with a much higher propensity than other groups.
The findings also show that females responded higher than males regarding using streaming audio services, such as YouTube Music (49.1% to 42.4%), Pandora (53.4% to 39.7%) and a local online radio station (19.6% to 15.4%). In regards to streaming video, in order to maintain a lower monthly bill for streaming services, 66% of respondents said they would accept having to watch commercials.
The study also explored the issue of information sharing and privacy, with 81.7% of respondents believing that only they or a family member should have access to data from health and fitness trackers. Conversely, 6.9% believe the company that that made the device or software should have access to the data.
GroupM’s LIVE Panel, which included 1,000 consumers, found that the higher the income, the more likely one would be to having a “virtual travel experience” like visiting a museum or foreign city. Males across each age group showed a higher propensity to having accessed a “virtual trip.”
Other findings include: 48% agreed they would like smart appliances, such as washing machines or refrigerators, to automatically order replacements when running low; 51.5% of respondents have a 5G connected device. Among half the population without a 5G connected device, 59.6% of 35-54s said they expect to buy one in the next year, while 45.2% of 18-34s said the same; 96.1% of respondents have used an Amazon or Apple connected product to help with their shopping.
“New technologies change the ways in which consumers engage with brands and introduce new ways to drive long-term growth,” GroupM’s Global President of Business Intelligence Brian Wieser said in a release. “Exploring the contours of new technology adoption laid out in this research is critical for marketers to better understand how to allocate their resources in 2021 and beyond.”