Social Media in Consumer Goods - Thematic Intelligence
Description
Social Media in Consumer Goods - Thematic Intelligence
Summary
Social media has become an almost inescapable reality of modern day life globally for billions of consumers. Social media is composed of online platforms that allow users to share information and allow networking between individuals. This has been particularly prominent in the consumer goods industry as brands are able to promote their products through this medium and can reach an astounding amount of viewers, thus leading to online sales/s-commerce.
With the COVID-19 pandemic heightening the amount of users present on social media networks, the channel became vital for consumer packaged goods companies to keep in line with this upward popularity and ensure that their brands were present online/invested in their social media pages in order to maximize profits. From this, many partnered with 'influencers' to guarantee further exposure online to reach audiences that the company may not have reached alone. While social media has benefited a vast number of companies, it has been the demise of others. With the vast reach that social media platforms have, consumers may post their opinions of products that could also be negative, or even worse, provide scandalous claims about the company. Therefore, there are positive and negative outcomes of the utilization of social media.
Scope
Summary
Social media has become an almost inescapable reality of modern day life globally for billions of consumers. Social media is composed of online platforms that allow users to share information and allow networking between individuals. This has been particularly prominent in the consumer goods industry as brands are able to promote their products through this medium and can reach an astounding amount of viewers, thus leading to online sales/s-commerce.
With the COVID-19 pandemic heightening the amount of users present on social media networks, the channel became vital for consumer packaged goods companies to keep in line with this upward popularity and ensure that their brands were present online/invested in their social media pages in order to maximize profits. From this, many partnered with 'influencers' to guarantee further exposure online to reach audiences that the company may not have reached alone. While social media has benefited a vast number of companies, it has been the demise of others. With the vast reach that social media platforms have, consumers may post their opinions of products that could also be negative, or even worse, provide scandalous claims about the company. Therefore, there are positive and negative outcomes of the utilization of social media.
Scope
- Key players in the social media theme include Facebook, Amazon, Google, and Microsoft to name a few, while Hubski, Discord, and Clubhouse are among the challengers.
- Social media sites have become a platform of mistrust and exaggerated lifestyles. Through the growing culture of influencer lifestyles and bragging about possessions, many consumers are now left feeling deflated and unhappy with their lives. As a result, the consumer goods industry and foodservice outlets may have benefitted or declined as consumers may deem particular brands or restaurants as ones they wish to show on their social media accounts and others not.
- For many consumers, social media platforms have become essential. It is, therefore, imperative that they make informed decisions about who has access to their data and for what purpose. The quality of services offered by social media platforms also depends on how effectively they can shield users from harmful content, misinformation, and online abuse.
- Online payment services go hand in hand with ecommerce services, as social media companies are stepping up their efforts to allow shopping on their platforms. Social media platforms are the perfect complement to online retail.
- As well as payment protection and personal information, product safety and security need to be strictly managed as consumer journeys are increasingly online.
- Understand multiple trends and company responses in order to tap into what is really impacting the industry.
- Gain a broader appreciation of the fast-moving consumer goods industry by gaining insights from both within and outside of your sector.
- Access valuable strategic take-outs to help direct future decision-making and inform new product development.
Table of Contents
47 Pages
- Executive Summary
- Players
- Thematic Briefing
- The blurred boundaries of social media
- Online advertising generates the bulk of the social media industry's revenues
- Social media must differentiate to compete
- Network effects can be a barrier to entry
- Trends
- Technology trends
- Macroeconomic trends
- Regulatory trends
- Industry trends
- Mergers and acquisitions
- Timeline
- Value Chain
- Content layer
- Consumer profile data
- User-generated content
- News
- Film & TV
- Games
- Distribution layer
- Social networks
- Discussion forums
- Media sharing sites
- Consumer review networks
- Sharing economy companies
- Messaging services
- Data layer
- Data governance and security
- Business intelligence
- Data analysis
- Data storage
- Data processing
- Data aggregation
- Data integration
- Services layer
- Internet advertising
- Online payments
- Ecommerce
- Customer layer
- Consumers
- Brands
- Influencers
- Companies
- Technology companies
- Companies relate to the consumer goods industry
- Sector Scorecard
- Consumer sector scorecard
- Who's who
- Thematic screen
- Valuation screen
- Risk screen
- Glossary
- Further Reading
- GlobalData reports
- Our Thematic Research Methodology
- About GlobalData
- Contact Us
- List of Tables
- Table 1: Technology trends
- Table 2: Macroeconomic trends
- Table 3: Regulatory trends
- Table 4: Industry trends
- Table 5: Mergers and acquisitions
- Table 6: Technology companies
- Table 7: Companies relate to the consumer goods industry
- Table 8: Glossary
- Table 9: GlobalData reports
- List of Figures
- Figure 1: Who are the leading players in the social media theme and where do they sit in the value chain?
- Figure 2: Some social media sites have been around for 10 years or more
- Figure 3: 4The social media business model relies on harvesting customer data to target ads
- Figure 4: Social media platforms are particularly popular among younger users
- Figure 5: The social media story
- Figure 6: Our social media value chain
- Figure 7: This is the layer where content is produced, both by users and third parties. This content is then shared on social media platforms. The social media value chain
- Figure 8: The social media value chain - Distribution layer: Social networks
- Figure 9: The social media value chain - Distribution layer: Discussion forums
- Figure 10: The social media value chain - Distribution layer: Media sharing sites
- Figure 11: The social media value chain - Distribution layer: Consumer review networks
- Figure 12: The social media value chain - Distribution layer: Sharing economy companies
- Figure 13: The social media value chain - Distribution layer: Messaging services
- Figure 14: The social media value chain - Data layer: Data governance and security
- Figure 15: The social media value chain - Data layer: Business intelligence
- Figure 16: The social media value chain - Data layer: Data analysis
- Figure 17: The social media value chain - Data layer: Data storage
- Figure 18: The social media value chain - Data layer: Data processing
- Figure 19: The social media value chain - Data layer: Data aggregation
- Figure 20: The social media value chain - Data layer: Data integration
- Figure 21: The social media value chain - Services layer: Internet advertising
- Figure 22: The social media value chain - Services layer: Online payments
- Figure 23: The social media value chain - Services layer: Ecommerce
- Figure 24: Who does what in the consumer space?
- Figure 25: Thematic screen
- Figure 26: Valuation screen
- Figure 27: Risk screen
- Figure 28: Our five-step approach for generating a sector scorecard
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