How the pandemic is transforming the global luxury sector

5

October

2020

No ratings yet.

Due to the rapid spread of the Coronavirus many luxury retailers and wholesalers had to close doors during the lockdowns. The implications for the industry are brutal: In the best-case scenario global luxury sales will decline by 18%. However, the worst-case scenario ranges around 35% (Bain & Company, 2020). This implicates a loss of around $50 billion to $100 billion for the industry, which has been growing around 3% (CAGR) annually (PRnewswire, 2020). In a market where only around 10% of sales are made online, the impact of the pandemic was particularly dire. The dependency on wholesalers and physical shopping experiences are only some of the challenges that the industry faces now. The reluctance and inability of the large chinese customer-base to travel is particularly problematic, as they make up 35% of global demand and half of chinese customers make their purchases abroad. While these tough environmental conditions certainly imply bankruptcy for many beloved luxury brands, they also embrace creative flexibility (McKinsey & Company, 2020). As many luxury retailers were forced to close physical doors, many opened new virtual sales channels. The following will highlight some of the most promising and creative digital sales strategies luxury companies have adopted amid the pandemic.

The main goal of many new digital strategies was to reproduce the luxury sector’s most important feature: personal and emotional experiences. Many brands such as Louis Vuitton and Gucci launched livestream selling experiences, where goods are presented and customers have the opportunity to interact directly with a salesperson. Furthermore, many companies focused on serving the top 1% customers, sending free samples to their most valuable customers and arranging personal video chat meetings to showcase the products (Lazazzera, 2020). Recreating personal experiences and delivering valuable content online will definitely be a key criteria in defining which brands will sustain the new challenges (McKinsey & Company, 2020).

The global watch industry has been hit especially hard from the pandemic’s impact. As only 5% of sales happen online, many luxury watch brands became creative. For instance, Omega and Zenith launched new social media campaigns to stay in touch with their communities. The fondation de la Haut Horlogerie, which is an organiser of watch fairs, built a new digital platform to host online watch fairs. According to them, it was a huge success with more than 44,00 visitors on the first four days. While the digital pattern of these new strategies is striking, many also engaged philanthropic pursues, such as giving away watches for front-line workers and volunteers in the pandemic (Lazazzera, 2020).

How do you think brands will overcome customer’s hesitancy to buy luxury goods amid the pandemic?

Sources:

Bain & Company, 2020, Global personal luxury goods market set to contract between 20 – 35 percent in 2020. Retrieved from: https://www.bain.com/about/media-center/press-releases/2020/spring-luxury-report/

Milena Lazazzera, 2020, How virtual stores became a reality in the world of luxury Financial Times. Retrieved from: https://www.ft.com/content/ca6bb85f-9af7-4df7-a606-828ceeea5a97

Alicia Esposito, 2020, How Luxury Brands Are Responding To COVID Tension With Innovation. Retrieved from: https://retailtouchpoints.com/topics/retail-innovation/how-luxury-brands-are-responding-to-covid-tension-with-innovation

McKinsey & Company 2020, The State of Fashion 2020. Retrieved from: https://www.mckinsey.com/industries/retail/our-insights/the-state-of-fashion-2020-navigating-uncertainty

Is Instagram the new beauty standard?

28

September

2019

5/5 (3)

Do you also catch yourself mindlessly scrolling through Instagram whenever you have got some time to spare? Believe me, you are not alone. But have you ever wondered how all these images of other people’s bodies may affect how you view your own body? No matter whether these pictures are your friend’s holiday picture, influencers’ gym selfie, or a celebrity’s beach photoshoot. You may think by yourself: “I wish I looked like her”.

Nowadays, the usage of social media is gradually growing and has already infiltrated into our daily lives. Instagram creates the illusion of perfection which is perceived by many as the beauty standards. In contrary to these beauty standards, our normal non-perfect lives seem somehow abnormal. As a result, some people may resort to drastic measures, or even eating disorders as their dissatisfaction with their body grows to try to achieve these unattainable goals as “beauty standards” (Dakanalis et al. 2014).

As we are scrolling through Instagram or posting pictures of ourselves, negative thoughts about our own body may arise (Holland & Tiggermann, 2016). A harsh comment by someone may result in dissatisfaction with our own body as many of us tend to interpret our social standing through comments or social comparison (Toma et al. 2008). A nice example is a video I encountered a few years ago by Cassey Ho, a social media fitness entrepreneur. Please watch the video below.

This video reflected how the comments by others on social media may affect how we feel about our own body. It made me start wondering how much of what we see are real on Instagram. Nowadays, there are numerous apps for altering your face and body as well as beauty filters to cover your imperfections (Fallon, 2014). Many of the pictures we see online are altered to enhance their features before it goes online. Even if I do not want to admit it, I will often find myself comparing to these influencers as well. I believe many followers of these Insta-celebrities do as well and what these followers think, actually becomes the new beauty standard.

This is just how trends work; they are going in and out like a fast fashion. Back in the day, flat chest and slim waist were in and now curvy body, thick lips and big booty are in. What is next? What do you think about the current beauty standard that is defined by altered pictures as the result of the current technology? Are you able to catch up with the current trend or will you rather alter yourself just to fit in? Let me know in the comments below!

Sources:

Dakanalis, A., Clerici, M., Caslini, M., Favagrossa, L., Prunas, A., Volpato, C., & Zanetti, M. A. (2014). Internalization of sociocultural standards of beauty and disordered eating behaviours: the role of body surveillance, shame and social anxiety. Journal of Psychopathology, 20, 33-37.

Ho, C. (2015) The “Perfect” Body [Video File]. Retrieved from https://www.youtube.com/watch?v=PsL7W-GHhJA

Holland, G., & Tiggemann, M. (2016). A systematic review of the impact of the use of social networking sites on body image and disordered eating outcomes. Body image, 17, 100-110.

Fallon, K. (2014). Streams of the self: The Instagram feed as narrative autobiography. In Proceedings of the interactive narratives, new media & social engagement international conference (Vol. 101, pp. 54-60).

Toma, C. L., Hancock, J. T., & Ellison, N. B. (2008). Separating fact from fiction: An examination of deceptive self-presentation in online dating profiles. Personality and Social Psychology Bulletin, 34(8), 1023-1036.

Will your clothes replace your personal trainer?

15

October

2017

No ratings yet.

A lot of industries are disrupted by new companies, products and services. Some of the most well-known examples are Airbnb and the hotel industry, Uber versus taxi companies and Netflix as opposed to video rental businesses. However, are industries are experiencing this as well. One example of this is the sports and health industry. It is a bit different from the examples above, because there is not one company which is disrupting of taking over the entire industry, but there certainly is a shift here.

Apps
This was first caused by for example food, health and sports apps, which help you track your calorie intake and macro-nutrients, give insight in your sleep cycle, count your steps, plan your workout and check your progress. Examples of these apps are Runtastic, Endomondo, MyFitnessPal, GoogleFit and Apple Health. These apps can also be connected with wearables, like the Apple Watch Sport and Fitbit. However, one of the newest technologies in the sports and health department is another type of wearables: clothes! Not normal ones, but smart clothing!

Smart clothing
A lot of companies are developing smart clothing, which will help you track a whole lot of things. Not only can these track the things your smartwatch can, like measure your heart rate and count your steps, these clothes can do much more. For example, a shirt that measures your body temperature, workout intensity, recovery, fatigue levels, but also air quality and UV levels. Or running shorts that can not only count steps, but also include cadence, ground contact time, pelvic rotation and stride length. This can help you improve your running form and reduces the chances of injury. There are also shirts that detect which of your muscles are working and transfer this workout data to a smartphone, to see if you are favoring one side over the other and if you activate the right muscles with your exercises. There are even yoga pants which pulse at the hips, knees and ankles to encourage you to move and/or hold positions and give you additional feedback through the app afterwards. With all these metrics, who still needs a personal trainer?

Sources:
https://www.digitaltrends.com/health-fitness/athos-smart-clothes/
https://www.wareable.com/smart-clothing/best-smart-clothing
https://www.digitaltrends.com/wearables/smart-clothing-is-the-future-of-wearables/

News on the move

3

October

2017

5/5 (25)

Are you unsure which newspaper has the best content, or fits the best to your interest? Are you unable to decide which subscription you should take? Do not worry, Solutions are on the rise!

Times are changing. The expansion of digital technology has enabled media to use fixed and wireless network connectivity to reach users with new methods. Altering the industry structure in production, distribution and the methods to monetize content. Existing competitors have initially adopted some of the technological changes trying to cope with it. Now however, new entrants are disrupting the industry completely.

Rising stars like Blendl are centralizing most media stories and interviews in one application (Blendl.com, 2017). Also the rise of intelligent personal assistants Amazon Echo and Google Home who are able to consult online sources for news and other information. This broadens the offer of one single Platform giving the possibility to reach niche markets and the general public with one platform. These smart personalized solutions open the door to long tail strategies adding value to the industry as a whole (Brynjolfsson, 2011).

Accessing all information through one platform has decreased the switching costs between different news media. Increasing the power of customers and decreasing the power of suppliers who have to participate in applications and systems like these. Changing the direct web channels of media partly back to centralized platforms. The suppliers will have to change dramatically to adapt (Hagiu, 2014). It seems certain that the revenue from the traditional market will shrink, shifting from multiple sources towards more centralized platforms with contributions of different parties.

I think, and I follow therewith the general opinion, that due to these developments the news industry has become a vulnerable market. Where the scale-based advantages of incumbents are weakened and new entrants possibly have great opportunities to succeed. Currently the different companies within the industry are experimenting with pricing strategies. Varying from versioning, to group pricing and personal pricing or even completely free. Only time can tell whether the news industry will regain it’s profitability, by changing the prevailing Information Strategy while adopting the newly developed technologies successfully within new sustainable business models.

References
Blendl.com (2017) via Blendl.com

Brynjolfsson, E., Hu, Y., & Simester, D. (2011). Goodbye pareto principle, hello long tail: The effect of search costs on the concentration of product sales. Management Science, 57(8), 1373-1386.

Evans and Wurster (1997). Strategy and the New Economics of Information. Harvard Business Review. September-October, 70-82.

Hagiu, A. (2014). Strategic decisions for multisided platforms. MIT Sloan Management Review, 55(2), 71.

Marktplaats and eBay, brace yourselves!

4

October

2016

5/5 (2)

Most of you have probably seen the ‘For sale’ pages on Facebook, where people offer and buy second hand items. Believe it or not, these pages are being visited 450 million times each month, so Facebook decided to respond to this demand. ‘Facebook Marketplace’ is a marketplace inside the Facebook app that launched yesterday in the United States, United Kingdom, Australia and New Zealand on mobile devices. In these countries, the ‘Messenger’ icon in the Facebook app will be replaced by the ‘Marketplace’ icon. If it proves to be a success, Facebook will continue to expand their marketplace to other countries and also to the web platform. Should eBay, Marktplaats and other large players brace itself?

Nowadays when people want to sell a second hand item, they do not just place it only on eBay or Marktplaats, they also share it on Facebook. Does Facebook offer more advantages than the existing platforms? There are several advantages to Facebook Marketplace that could make users choose for Facebook Marketplace instead of for example Marktplaats or eBay:

Buyers and sellers can easily communicate through the already existing Facebook Messenger.
Posting items for sale is free, which is not the case on other platforms for some product categories.
Fraud can be reduced, as buyers can check the profiles of the sellers to see whether they are ‘real’ people.
Facebook can show their users second hand items based on their interests because Facebook knows these.
While on eBay or Marktplaats people search for specific items, Facebook users might go through Marketplace simply because they’re bored and could find something they like (spontaneous shopping). This could increase the range of potential buyers.

Besides aforementioned advantages, Facebook has the advantage of a strong brand name and the large amount of users. It’s hard to place any predictions about Facebooks new feature, but I believe that Facebook Marketplace has strong advantages and will therefore be a big threat for platforms such as eBay and Marktplaats. However, we will see what future will bring us.

Sources:

http://www.makeuseof.com/tag/facebook-marketplace-sell-old-junk/

http://newsroom.fb.com/news/2016/10/introducing-marketplace-buy-and-sell-with-your-local-community/

https://www.iphoned.nl/nieuws/facebook-marketplace/

Facebook launches Marketplace, a friendlier Craigslist

FinTech: How to get the best exchange rate when traveling abroad. 4/5 (4)

24

September

2016

FinTech, short for Financial Technology, is slowly revolutionising the banking and insurance business. The earliest and best known FinTech companies evolve around payments. One of these companies is TransferWise. TransferWise is an easy way to transfer money abroad at the mid-market rate and only pay 0.5% or 1€ (whichever is highest) fee for their service.

Say you have a friend in the UK and want to wire some money to him. The traditional way would be you sending money directly from your bankaccount denominated in euros to his bankaccount. Because his bankaccount is in GBP, his bank will then convert the euros into pounds at a hefty fee (sometimes up to 6%)¹.

hidden-fees

But their are of course also people who want to transfer money from the UK into accounts that are in euros. This is where TransferWise (and similar companies such as WorldRemit) step in. They help you to swap your euros into a different currency without incurring those fees. You wire your euros to TransferWise’s euro account and they will pay your friend from their GBP account. Because there are at the same time also people who do it the other way around, TransferWise has no trouble finding enough pounds or euros.

‘I would turn down £1bn for my company’

– Taavet Hinrikus, the co-founder and CEO of TransferWise²

Personally I used their service a lot when I was on exchange in Singapore back in 2014. Back then TransferWise was only a small startup, but in the past 2 years it turned into a £1bn company. I opened up a free bankaccount over there and wired my euros through TransferWise into my SGD account. At only 0.5% I would certainly recommend them!

Click here to get your first transfer (up to £500 or equivalent) for free.

revolut

But what if you’re on holiday’s abroad and want to avoid foreign exchange fees? There’s an app for that. Enter prepaid travel MasterCards. The most popular one (and cheapest one, because free) is Revolut.

With this free app and card you can pay in 90 currencies at the lowest rate they’re able to find. Most of the times this is the interbank rate, but for some illiquid currencies (such as Thai Baht) this is not possible and therefore slightly more expensive. The card automatically converts into the local currency at the time of purchase. This means that even if you hold euros but spend in Indian Rupee the card will convert from EUR to INR at the time of the transaction. The card will act like a local card everywhere and allows you to spend without fees and withdraw up to £500 (or equivalent) for free each month from ATMs all over the world (after the initial £500 they charge you at a 2% rate to prevent abuse, as ATM withdrawals are expensive for them).

You can download the app and use it immediately as it generates a card number for you to use directly online. If you also want a physical card you can order one for free from the app. Click here to download the app.

¹http://stophiddenfees.co.uk
²http://www.bbc.co.uk/programmes/p048c93g

TransferWise is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011, Firm Reference 900507, for the issuing of electronic money.

Revolut works with UK regulated entities to provide their platform such as Paysafe Financial Services Limited who are authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 (FRN: 900015) for the issuing of electronic money and payment instruments, pursuant to a licence from MasterCard International. MasterCard is a registered trademark of MasterCard International.

Technology Of The Week – Disruption of the Telecom Industry

15

September

2016

No ratings yet.

The telecom industry has changed substantially in the last decades. This was in large part due to external messaging and calling apps, also called ‘Over-The-Top’ (OTT) services, that use the Internet to make calls and send messages. These services have made messaging and calling much cheaper for the user. The average user sends about 1.200 WhatsApp messages every month. Imagine sending these back in the days, when a text cost €0,20. It would have cost you €240 a month! And this while the cost of a text to the company is less than a cent. In other words, the traditional calling and messaging services were a great source of revenue. The telecom industry claims to have lost 386 billion USD in revenue to OTT services.

For our analysis, we looked at WhatsApp versus Facetime and iMessage. WhatsApp is a smarphone application that allows you to send messages, audio and video through the Internet. It identifies people through phone numbers rather than having to register for a fully separate account. FaceTime and iMessage is an Apple application that enables users to make video and audio calls over the Internet. If you know another Apple user’s phone number or registered email address you can make unlimited calls. These new services were advantageous in many ways. They are of course much cheaper, since you only pay for data. Also, they include more functions, such as group chats or calls and location sharing. Finally, OTT services are great for travelers who can now make international calls for free using Wi-Fi.

Let us now compare the two services to each other. WhatsApp is owned by Facebook, while iMessage and FaceTime are owned by Apple, which have very different business models. WhatsApp has the most users, with one billion users since this year. iMessage and FaceTime are pre-installed on all Apple devices, which also means that their use is restricted. However, this might be an extra incentive for people to buy an iPhone, thus a positive point from Apple’s perspective.

Finally, what do we think will happen in the future? It is clear that OTT services such as WhatsApp and FaceTime and iMessage are taking over the market. Even though telecom companies would like to keep their system of bundling calling and messaging with Internet service, this will likely change. At some point, we expect everything to be Internet-based, and all services will be merged so that you no longer have a separate phone bill and Internet bill. However, telecom companies might respond in different ways: they might be reduced to just the pipeline for Internet, or they might develop competing apps of their own that will form one integrated service. Either way, data access will keep improving, and it will likely become possible to have Internet anywhere in the world without needing to switch SIM cards. Also, the pricing model will probably be based on more, smaller transactions rather than long-term subscriptions. Either way, telecom companies will need to adapt in order to survive. The only certain winner is the consumer.

By Eva Siccama (381230),

Gaston van de Weijer (374902),

Ge Jiang (386449),

and Beibei Wu (457617).

References:
Apple kicks off iPad mini event. (2012). bgr.com. Retrieved 15 September 2016, from
Apple kicks off iPad mini event: 3 million new iPods sold, iOS 6 now on 200 million devices

Petronzio, M. (2014). Average WhatsApp User Sends More Than 1,200 Messages Each Month. Mashable. Retrieved 15 September 2016, from http://mashable.com/2014/02/21/WhatsApp-user-chart/#Z2sPTkzc_Eq8

The Future of Telecom Operators in Europe. (2015). Atkearney.com. Retrieved 15 September 2016, from https://www.atkearney.com/communications-media-technology/ideas-insights/the-future-of-telecom-operators-in-europe

The New daily record. (2014). Twitter.com. Retrieved 15 September 2016, from
https://twitter.com/WhatsApp

What is the future of the telecom industry?. (2015). quora.com. Retrieved 15 September 2016, from https://www.quora.com/What-is-the-future-of-the-telecom-industry

WhatsApp has grown to 1 billion users . (2016). theverge.com. Retrieved 15 September 2016, from
http://www.theverge.com/2016/2/1/10889534/whats-app-1-billion-users-facebook-mark-zuckerberg

WhatsApp. (2016). Wikipedia. Retrieved 15 September 2016, from https://en.wikipedia.org/wiki/WhatsApp#cite_note-Statt-2016-02-01-13

Safer Social Media

5

November

2015

5/5 (1)

Cyber bullying has become a common occurrence online these days. Social media makes online communication easy and fast. Although these are positive attributes and reasons as to why social media is so popular to begin with, just as easy as it is to communicate with people about your day-to-day life, it is just as easy to bully and attack someone online. In recent years as the popularity of social media has increased and more teenagers join social networks, the amount of cyber bullying has risen along also. Last year, in a study conducted in the U.S., one million children admitted to being harassed, threatened or exposed to some form of cyber bullying on Facebook. To some it may not seem like a big deal because as reflected in the study 90% of these social media users ignored this behavior. However, more than ever this negative behavior is leading to an increase in fatal consequences. Until recently, there has been no full-proof way to manage online bullying.

In 2015 the app My Social Sitter was develop. The purpose of the app is to stop cyber bullying and ensure a safer and negative free social media environment. Using a four step process the app, which is connected to the social media platform of the user: detects, shields, informs, educates and rewards. The initial detection step has the ability uncover any harmful communication being received, and even harmful communication being sent out by the user. This is followed by the shield of protection, which prevents the negative message from advancing to the intended recipient. From there the user is informed whether a message has been posted or rejected within seconds and if they themselves are sending out a negative message they have the opportunity to edit their post. Along with the informing process is the apps ability to detect very serious messages surrounding depression or suicide. In this case the users parents are automatically informed. The final step is education and rewards. From the shielding step users are taught what is appropriate and what isn’t and the end they receive rewards for every positive post, such as tokens or gift cards.

Screen Shot 2015-11-05 at 11.07.07 PM

The newly developed app has many positive attributes with the first being its quick response rate whenever a message has been sent or rejected makes it easy to keep track with what is taking place on your social media. Another point is that the app is able to detect slang and sentiment in six languages, which increases chances of preventing cyber bullying because youngsters don’t usually write in formal English when they’re on social media. Another is the reward, which is a great motivation for kids and teenagers as they’re usually would not pay attention to ideas like this, but in this case they get something out of it. Finally, it keeps users’ social media profiles private from their parents with the exception of the notifications regarding harmful messages.

Personally I think it is about time an app like this was developed. Some social media sites have put regulations in place to try and hinder cyber bullying as much as possible, but it has not been the most effective. For that reason, I think social media sites like Facebook need to begin advertising the product in order to inform more people. Social media use is continuously rising and it is necessary to make it a safe environment because there is no reason bullying should take place. The app gives individual control to users, its fast and creates a more enjoyable online environment.

Resources

App stops social media bullies – CNN Video. (2015, October 28). Retrieved November 5, 2015. http://edition.cnn.com/videos/tv/2015/10/28/anti-bullying-app-good-stuff-newday.cnn.
My Social Sitter Webpage. http://www.mysocialsitter.com/index.php.

Facebook’s Takeover Explained

5

November

2015

No ratings yet.

As we have established, Facebook is the most dominant social media site currently, with over 1 billion active users as of early October this year. However, despite this milestone more and more statistics are highlighting Facebook’s decline in popularity. In a recent survey it was determined that about one third of Facebook users had updated their status in recent weeks and 37% of participants said they shared photos on the site. Each of these figures is significantly lower than they were at the same time in 2014. In 2014 half of participants updated their Facebook status and 59% were sharing their photos. Not only, but in comparison to last year the number of social networks people were part of has also increased from 2.5 to 4.3. This hardly comes as a surprise considering the rising popularity of Instagram where people tend to prefer posting their pictures nowadays. Snapchat is another social media platform where people are able to send pictures and videos, along with alternative competitive social platforms Twitter and YouTube. On top of that, despite Facebook’s strong most recent quarter three earnings, the majority of it came from growth in Instagram and Whatsapp, which the company owns.

After reading these statistics it gives an indication as to why Facebook is continuously trying to push itself into other markets. Within the last year Facebook has broadened its reach by focusing on other features like their messaging app, videos, media and their most recent shopping feature. One way or another for Facebook to remain at the top it of course needs to be innovative and expand its outreach, which finally gives a partial explanation to its behavior in recent years.

However, before you begin to assume that the end of Facebook is near, it’s not. Facebook is still the most used social media platform in the world by a large margin with a user gap of roughly 15% between second place social media app, Instagram. Its overall monthly user rate is 1.39 billion in comparison to Whatsapp’s 700 million and Instagram’s 300 million user count.

AAB14962_10101878930744521_5803228054643425633_n

As Facebook remains successful at present, it is unlikely that its popularity will diminish anytime soon. At the moment a reasonable explanation is given to understand its recent actions, which personally I think are wise because although it bothers me now that Facebook wants to be everywhere and that it potentially could be. Just like most things there is tends to be an end, and it will be interesting to see where Facebook will go from here. Will its identity as the leading social media hub remain? Will it transition into a leader of another sector? Or will it end all together?

Resources

Facebook has a sharing problem. (2015, November 3). Retrieved November 5, 2015. http://money.cnn.com/2015/11/03/technology/facebook-sharing-down/index.html
O’Reilly, L. (2015, November 5). Here’s what analysts are saying about Facebook’s strong 3rd-quarter earnings. http://uk.businessinsider.com/analyst-notes-on-facebook-q3-earnings-2015-11

Teenagers prefer Instagram, Twitter and Snapchat over Facebook

25

October

2015

No ratings yet.

Nowadays there are a lot of social media channels through which we can communicate with others. You might have an account on all of them or maybe only on a few. A survey was held among American teens to find out which social media channels are most popular amongst them. A surprising finding might be that Facebook is becoming less popular for teenagers.

The survey included 9,400 teens from 13 till 19 years old, coming from households with an average income of $68,000. Around 56% of the teens were male.

The results showed that Instagram was the most important and popular social media. One third of the teens ranked Instagram first. Twitter ended second in the survey, ranked first by 20% of the teenagers, which is a little better then Snapchat’s 19%. It might be surprising that Facebook is not as popular under youngsters as you might expect. Only 15% of the teens considers Facebook as their most important social network. The results are also in the figure above.

From Facebook’s perspective 15% can be considered as slightly disappointing. However, we must not forget that Facebook bought Instagram in 2012. Even though Facebook is losing interest from teens over the years, the growth of Instagram makes up for this. Facebook’s core audience is getting older and the figure shows this as Facebook was by far the most important social networking site for teens in 2012.

So should Facebook be disappointed with the results? I don’t think so. Facebook still owns the most popular social networking platform for teenagers and has the ability to focus on an older core audience now with their own platform. This gives Facebook the possibility to provide social networking platforms that suit anyone.

So now you know which social media are most popular and important for teens, did you expect this result? And what would be your personal order of social media? And what do you reckon Facebook thinks after seeing the results of this survey?

Sources
http://blogs.wsj.com/digits/2015/10/16/survey-finds-teens-prefer-instagram-snapchat-among-social-networks/

How the pandemic is transforming the global luxury sector

5

Please rate this

Will your clothes replace your personal trainer?

15

Please rate this

Technology Of The Week – Disruption of the Telecom Industry

15

Please rate this

Safer Social Media

5

Please rate this