Here are the highlights from Mary Meeker’s Annual Internet Report that I think every retailer needs to know.
- Smartphone sales and Internet penetration growth are both slowing
- It’s not really a “shift to mobile” as much as “the addition of mobile”, since desktop usage hasn’t declined much while mobile usage has skyrocketed to over three hours per day per person in the US
- There’s still more time spent on mobile than ad spend, indicating forthcoming windfalls for mobile ad platforms
- Google and Facebook control 85% of online ad growth
- Internet ad spend will surpass TV spend within six months
- Streaming music led by Spotify surpassed physical music sales, giving recorded music its first revenue growth in 16 years
- eSports are exploding, with viewing time up 40% year over year, and an equal number of millennials strongly preferring eSports vs traditional sports
- Email spam with malicious attachments is exploding as cloud usage increases, so be careful what you click
- Tech companies drive wealth creation in China, where people pay for livestreaming, and bike sharing usage is skyrocketing
- Falling data costs are driving increasing Internet adoption in India, but smartphone prices remain too high
- 60% of the most-highly valued tech companies in America were founded by first or second generation Americans while 50% of the top private startups were founded by first-gen immigrants
Want to know how it can help in your business? Read it here.