[Music] hi welcome to this consumer life I'm cine head of research at Brocks and this week we'll be working through insights on Innovation what it means if where when and why it's important and who it matters to so let's dive in and start by taking a look at Tech I think that iPhone has a very good reputation clearly with the fails and all of the the update they keep making and coming out with new versions making things better and better every year just goes to show that you know they put a lot
behind the quality of the product that they put out there 24% of consumers talk unprompted about Innovation as a customer driver in Tech obviously this is an important concept for Tech Brands and it matters to Consumers too but what does it mean when we consider our data and how consumers talk about innovation in open-ended video responses we can see that Innovation goes much deeper than novelty or being seen as futuristic and Hightech Innovation is really about the experience of the consumer us
your companies have been around for years and they produce year after year new and better technology make our lives easier and uh more entertaining with video games and and computer software and all the other things AI now coming into becoming a great deal of part of our Lives it's Google and chat JP key and Bard and there's there's so many others that that are now coming out and there's more and more coming out every day I mean there's AI that could do my investing for me that's pretty profoun
d right there so while having the latest technology is in and of itself worthwhile to some consumers it needs to have a really tangible impact on the experience and the everyday life of the consumer to be worthwhile being seen as an Innovative brand that keeps up to date increases the sense of quality and performance and it increases trust continual improvements are appreciated across demographics and as we've heard Brands which are seen as Innovative are seen to provide a better user experience
so these benefits of innovation are all articulated much more strongly by older demographics so this suggests that these groups are much more interested in the tangible and concrete benefits of innovation but while 21% of consumers appreciate continual improvements and updates for some consumers constant Innovation can be seen as a Bad Thing another 9% of consumers talk about constant updates and new releases as a pain point or also unprompted and this is more prevalent for younger consumers wi
th 18 to 29 year olds being 22% more likely to complain about this and 65 plus year olds being 33% less likely so it seems that while Innovation as a concept certainly resonates with consumers it's really important to get under the skin of what this means in some cases Innovation is about having a tangible positive effect on the everyday lives of consumers we can see that new advances in technology can make make our lives much easier and that is a case where Innovation is felt and is appreciated
in other cases it's simply an information overload or an expense overload and the benefits of new upgrades aren't felt sufficiently to justify the cost and the work of keeping up so Brands need to go past Innovation and communicate the improvements to quality of life if they want to convince customers that they are Innovative and that their Innovations are worth having moving on let's take a look at streaming when it comes to streaming that it really is all about content consumers report that t
hey want original and diverse content some also talk about having their own suggestions heard to improve the experience of streaming but content really takes precedence as the priority when it comes to keeping things fresh we can see by breaking this down that for over 65s classic content overtakes diverse content as a driver I'm 74 years old so I'm a real sucker for the classics and I really like the old TV shows the way they used to do things I like the modern stuff but you just can't beat the
old classic material that used to be on so Innovation is appreciated in streaming and platforms really need to keep their content fresh and up todate and cater to the demands of various demographics to remain competitive content is obviously a top priority in streaming being cited multiple times as a major driver and a major pain point but what do consumers mean when they talk about original diverse and classic content this really could mean anything consumers appreciate original and varied con
tent and content from a diverse range of places not all content is universally appreciated however 11% of consumers talk about content staleness as paino referencing repetitive or tedious crime documentaries for example unwanted Sports content being pushed and 10-year-old movies being marked as new releases 2% side VI content specifically as a paino and a small but loud 1% site agenda pushing so there again Disney plus I not something I would use just because I don't go along with what they poli
tically push on people for some consumers what we might call content Innovation so including social themes in content is not welcomed and this novelty and originality in content is definitely not automatically a positive but if we move past what consumers report is important to them in terms of streaming Innovation and take a look at actual behaviors we can quickly see that novelty and freshness isn't always the winner here 15% of consumers talk unprompted about scheduled programming and adverti
sements essentially going backwards to the days of scheduled television and taking away the infinite choice of streaming platforms so fast channels and scheduled programming are on the rise Beyond this 18 to 29 year olds are 150% more likely to name social media Brands like Tik Tok Instagram when they're asked unprompted which streaming services they're aware of which streaming services are you aware of twitch YouTube sometimes um take is coming out uh Tik Tok I keep it straight B and maybe Snap
chat maybe I know Instagram Facebook those are just a anal few so Innovation and streaming needs to go beyond content and to consider the different ways of actually consuming content as the big giants like Netflix Amazon Hulu are clearly losing out to social media Brands who have become synonymous with streaming for some consumers streaming services need to be competing with social media as they innovate to keep up with younger Generations preferences so how could they do this consumers apprecia
te variety the usability and ease of consuming social media content the immersive experience of creating content as well as consuming it and seeing platforms as a creative Outlet as well as specific content like gaming on Twitch and live content once again harking back to traditional television while gaming live streaming and creating content remain in the domain of younger consumers older consumers see the benefits of the user friendly experience of social media so there's clearly an opportunit
y for streaming Brands to tap into some of these drivers to compete against the growing threat of social media in this space so that was a brock AI Deep dive into Innovation what it is what what it can mean for consumers where and when it matters and where it's maybe not always wanted we found that Innovation on its own is not enough to make a tech brand worthwhile in consumers minds and we found that consumers reported beliefs don't always reflect their behaviors and their entire stances on Inn
ovation when it comes to streaming make sure to sign up for our weekly updates by clicking the link in the description or by going to brock. a/ data- stories join us again next week where we'll be diving into a new topic and a new set of sectors and hearing lots more from our Brock AI panelists
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