|E-commerce seen booming as digital marketing trends strengthen|
Bank marketers will be interested in the results of comScore, Inc.’s 2012 U.S. Digital Future in Focus report, which examines how the prevailing trends in social media, search, online video, digital advertising, mobile, and e-commerce are defining the current marketplace and what these trends mean for the year ahead.
“2012 promises to be an exciting year for the digital media industry as the explosion of available content and proliferation of web-enabled devices drive the evolution of the digital consumer, creating new opportunities and challenges for the entire digital ecosystem,” says Linda Abraham, comScore CMO and executive vice president of Global Product Development. “In order to be successful in this new paradigm, digital marketers must understand the key trends shaping the current marketplace and what that means for the future of their businesses.”
Key insights include:
• E-commerce is back and better than ever—Despite the backdrop of continued economic uncertainty, 2011 was a strong year for retail e-commerce. Throughout the year, growth rates versus the prior year remained in double-digits to significantly outpace growth at brick-and-mortar retail. Total U.S. retail and travel-related e-commerce reached $256 billion in 2011, up 12% from 2010.
• The Facebook-led social media market is redefining communication in the digital and physical worlds—Social networking accounted for 16.6% of all online minutes at the end of 2011 and is on track to surpass portals as the most engaging online activity in 2012. Facebook continues to lead as the driving force behind this shift in consumer behavior, accounting for the largest share of online minutes across the entire web in 2011.
• Digital advertising enters an era of increased accountability as brand dollars continue to shift online—A staggering 4.8 trillion display ad impressions were delivered across the U.S. web in 2011 as brand advertisers continued to shift dollars to the digital medium. This shift in ad dollars has magnified the need for greater transparency and accountability in ad delivery across the digital advertising ecosystem.
• Smartphone and tablets fuel the rise of the digital omnivore—The rise of smartphones and tablets has drastically altered consumers’ digital media consumption. In 2011, the majority of all mobile phone owners consumed mobile media on their device, marking an important milestone in the evolution of mobile from primarily a communication device to also a content consumption tool. At the end of the year, more than 8% of all digital traffic was consumed beyond the classic web via devices such as smartphones and tablets.
• The online video boom signals sea change in video ecosystem—Online video viewing witnessed impressive gains across a variety of measures in 2011, signaling a behavioral shift in how Americans are consuming video content. More than 100 million Americans watched online video content on an average day to close out 2011, representing a 43% increase versus year ago.
• Bing gains ground in search—Although Google maintains a strong lead in the U.S. search market, one of the most notable stories in search in 2011 was Bing’s positive growth trajectory. Bing closed out the year by surpassing Yahoo! for the No. 2 position among core search engines for the first time in its history, bolstered in part by its social search partnership with Facebook implemented in early 2011.
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