Summary of Digital 2022: Q2 Briefing

00:00:00 - 00:20:00

The "Digital 2022: Q2 Briefing" video covers a lot of ground, but the main takeaway is that online grocery spending is increasing significantly. This is just one example of how the digital world is constantly changing, and businesses need to stay on top of these changes to remain competitive.

• 00:00:00 This quarter's global digital report focused on the fact that the world has just reached 5 billion internet users. This slowdown in internet user growth may be due to the delays in research and data reporting caused by Covid, but it's also possible that these more subdued growth rates are a return to more normalcy after the rapid expansion we saw during the height of the pandemic. Additionally, current trends suggest that we are on track to see two-thirds of all the people on earth using the internet by the middle of next year. Meanwhile, mobile adoption rates are still modest and offer a fairly representative benchmark for what we might expect to see internet and social media growth rates settle over the coming years.
• 00:05:00 According to data from knownfungible.com, crypto ownership is growing rapidly, while trading activity in the first week of May was more than 90 percent lower than it was in September of last year. Meanwhile, analysis from chanalysis reports that there are now about five nfts available for every buyer. While some fundamentals of digital marketing are still the same, such as social media marketing being allocated into arbitrary buckets, the author suggests that we should rethink how we allocate our marketing budgets considering the reasons why people use each platform.
• 00:10:00 The digital world of 2022 is looking very different than the digital world of today. In this video, the presenter suggests that better, more representative ways of allocating budgets should be explored, based on people's behaviors and motivations, rather than simply based on the delivery mechanisms of media. Additionally, the presenter mentions that ads are not the only way that tick-tock, a Chinese social media platform, makes money. In the past 12 months, people have spent more than 2 billion of their own hard-earned cash on tips for content that they could otherwise have enjoyed for free on tick-tock. This raises the question of where advertising content on platforms like TikTok will stand in the future. It is interesting to think about how content that is worthy of audience tips could be turned into a profit center, and it is also worth considering how Red Bull, a media house that is already a revenue generating outfit, has turned content into a profit center. However, the presenter raises a valid question about whether or not content on platforms like TikTok is worthy of audience tips, in a world full of other content. Therefore, this challenge is not easily dismissed.
• 00:15:00 Facebook's share of retail sales has been decreasing, but this is only due to the fact that physical stores are becoming more accessible. In 2021, online grocery spending increased significantly.
• 00:20:00 The digital world is constantly changing, and so is ecommerce. In this quarter's briefing, Datarat reported on the trends in ecommerce and what they mean for the future. The online grocery category is growing, and this is translating into higher growth across other categories. It's important to track developments like these in order to understand the broader trends and behaviors in your specific market and category, but it's also important to consider the context of broader trends and the behaviors of your customers. Datarat will be back with another quarter's briefing in August, and they will be including updates on the trends in social media audiences.