Stats of the Week November 11, 2013

Written by: Digitally Approved
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Every week we compile lots of interesting stats here at Fanscape and we try to share a lot of what we learn with you in these posts.

Video Games
Globally, the gaming industry is expected to bring in nearly $100 billion in sales, while the Hollywood box office is only anticipating $10.8 billion in revenue.

Source: Mashable

Demographic Shifts
The Millennial generation is expected to outspend Baby Boomers by 2017, yet retailers underestimate the size and purchasing power of this consumer, according to a new research study unveiled today by Berglass + Associates and Women’s Wear Daily. The study, “What Happens When Millennials Get the Wallet,” found that retailers do not fully understand the needs of Millennials and are employing business strategies and tactics that do not apply to this customer.

  • Approximately half of respondents are unaware that Millennials are expected to outspend Baby Boomers annually within five years.
  • Millennials rely most on their friends to make buying decisions, yet more than a quarter of respondents mistakenly believe that online advertising is the number one influencer of millennials’ purchasing activity.
  • Of the executives that were surveyed, more than 30% are CEO’s or Presidents, who plan to significantly increase their digital leadership over the next three years.
  • 60% of respondents are not conducting any research or analysis of the Millennial customer.
  • Only 36% of respondents from companies with both physical stores and e-commerce sites offer a seamless customer experience, yet Millennials expect the channels to be integrated.

Source: Berglass & Assoc. + Women’s Wear Daily

Holiday
This year is the shortest online shopping season since 2002, costing retailers $1.5 billion in potential sales

Online SalesSource: Adobe

Mobile Social App Use
1 in 3 smartphone users use Instagram
1 in 10 mobile phone users in the US are Snapchat users. Source:

Source: Pew

Top Website Traffic Drivers
Pinterest is a better driver than Twitter and Facebook drives 1 in 10 content views to websites

2013_11_01_PinterestSource: Shareaholic
Above Chart by Statista: http://www.statista.com/topics/1164/social-networks/chart/1549/social-traffic-sources/