Unit 1 - Assignment 2 - Task 3

Key points for video:

 

·        Technology can be termed as different things, however if we are using it in the way we do now, technology has greatly developed in the last 20 years, from the old bulky computers that were used at the start of the millennium to today, having tiny computers in our pockets.

·        Because of this technology change, the way we search for information and our buying options have also changed. Internet shopping has changed the way we buy, and having so much information at our finger tips, Google now says that the consumer has as much information as the salesperson.

o   93% of shoppers say they used online resources in the past week

o   Overall, 68% of people said they were planning to do more online shopping in the next year

·        In terms of what we buy online, we can buy pretty much everything. More recently, due to the coronavirus pandemic, even some industries which had not adapted to this new technology have had to, such as the medical industry. Demand for online grocery shopping also increased by 50%, and virus related protection increased by over 800%.

·        Video consumption has also greatly increased with having tiny tv’s and streaming services constantly available to us on different devices.

o   By 2022, online videos will make up more than 82% of all consumer internet traffic – 15 times higher than 2017

o   6 out of 10 people would rather watch online videos than television

o   Mobile video consumption increases by 100% each year

·        To conclude, the internet has completely transformed the way we shop, and online shopping is consistently increasing

o   What consumers shop for online is consistently changing, Coronavirus proved that shopping habits can change drastically depending on the consumers’ needs at the time

o   More people are shopping on their mobile devices than ever before and are more likely to pay attention to video advertisements than text. They are also able to do extensive research easily before purchase

Link to Slideshare presentation: https://www.slideshare.net/secret/EbX7ABJ6h9Usfg