NEW YORK, Sept. 24, 2019 (GLOBE NEWSWIRE) -- The American Marketing Association (AMA) New York – in partnership with Charney Research, YouGov, Kadence International and GreenBook – has published the FUTURE OF MARKETING: U.S. and China study. It is an in-depth original research report featuring surveys of 500 marketers and 500 consumers each in both the U.S. and China that reveals how marketers and consumers in the world’s two largest markets view what’s on the horizon for marketing and its meaning for brands, culture, trade and martech.
The surveys, conducted between January and March of this year, reveal widespread disillusionment with social media and online marketing in the U.S.—and that social media and online gaming usage is likely to level off or decline here over the next three years. In contrast, the study finds marketers planning to increase online and social spending to reach consumers. U.S. consumers are also uncertain about many of the new ad technologies marketers are embracing.
While social and online media usage will likely continue to rise in China, Chinese consumers share Americans’ concerns over hacking, false information and loss of privacy. Though they are more ardent technophiles than Americans, Chinese consumers indicated they are more ambivalent about ad technology than marketers realize.
“Techlash is here,” notes Karen McFarlane, president of the AMA New York. “Despite their fast adoption, American and Chinese consumers have profound concerns about their personal data and how it will be used or compromised. When it comes to the growing intersection of the internet of things (IoT), adtech, and artificial intelligence (AI), marketers must amplify brand trust and become unmatched champions of consumer privacy. At the same time, the escalating economic nationalism in both countries will pose additional challenges that marketers must respond to at the corporate, industry and national levels.”
Key US findings:
- Techlash has hit America, but some marketers haven’t noticed: social media and online gaming use are set to fall or level off in the next three years, though 68% and 25% of advertisers, respectively, anticipate increased marketing spend in these categories.
- Of the nine adtech innovations tracked in the research, none are favored by a majority of Americans. However, pluralities feel positive toward VR, AI, and omnichannel innovations, perhaps because they can be used voluntarily.
- 52% of U.S. consumers surveyed have no plans to purchase a smart speaker, and Americans are split nearly evenly between favorability (44%) and un-favorability (42%).
Key China Findings:
- Online media usage continues to grow rapidly, with the largest gains in websites (net +42%) and social media (net +34%). WeChat leads at 96% daily use among the online sample.
- Chinese consumers have a positive impression of nine adtech innovations measured. IoT (81%), smart speakers (79%), AI assistants (71%) and VR (70%) rank highest.
- American brands are viewed favorably by 68% of Chinese consumers. But since the trade dispute, 75% said they are more likely to buy Chinese compared to a year ago.
“Overall, while consumers in both countries worry about the downside of adtech, including loss of privacy, false information, and social isolation, marketers in America and China underrate these concerns,” said lead author and Charney Research founder Craig Charney.
Four in five Americans and nearly two in three Chinese polled worry that customers will lose their privacy with the new adtech innovations — while consumers in each country express widespread fear that they will feel under constant surveillance due to it.
The fear that fake accounts, falsehoods, hackers and bots will mislead consumers is a concern shared by 85% of Americans and 65% of Chinese polled.
Many marketers in both countries are missing this, the study found. On average 37% of marketers in China and 74% in the U.S. believe consumers will be troubled by these issues, indicating that they underestimate consumer concerns. For online marketing and platforms to succeed globally, marketers need to address consumer concerns now.
The survey also showed that against the backdrop of the trade dispute, economic nationalism has grown in each country. Substantial numbers of Chinese consumers are turning towards Chinese products even though they like U.S. brands, while 39% of U.S. consumers have become more likely to buy American despite the appeal of low-priced Chinese goods.
Method summary: 500+ consumers and 500+ marketers each in the US (Jan 2019) and China (Mar 2019), interviewed online.
Please find the complete study or executive summary here: https://www.amanewyork.org/techlash
About American Marketing Association New York (AMA New York):
As part of a national organization of over 30,000 members, American Marketing Association New York (AMA New York) inspires, supports and celebrates brilliance in marketing. Founded in 1931, AMA New York is the principal community for marketing professionals across all industries and disciplines in the New York area. Offering professional development, educational events, and meaningful interactions through volunteerism and mentoring, marketers can increase their knowledge and reach in the marketing community at the various stages of their careers.
For more information, please contact:
Pat Sloan at +1-646-673-4787 or patsloan@sloanhuntcommunications.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/bc2b14f7-8ec3-4ff9-b77c-dad0fc315e23