|By Business Wire||
|April 20, 2017 09:09 AM EDT|
Crimson Hexagon, a leading provider of business insights from social data analysis to inform strategic enterprise decision-making, today announced the release of its U.S. Consumer Trends Report. The findings draw on Crimson Hexagon’s data repository of more than 1 trillion social media posts, which offers deeper unfiltered access into the mind of the consumer than any focus group or market research, and reveal consumer sentiment, emotions and reactions about the brands, – like Apple, Uber or Amazon – products, services and hot topics that influence everyday buying decisions.
The unfiltered consumer commentary, preferences and opinions reflected in Crimson Hexagon’s U.S. Trends Report offers brands with the insights needed to inform everything from their product roadmaps to marketing campaigns and sales strategies to help them better connect with consumers. Based on analysis of unstructured social media data alongside structured data such as sales or stock market figures, the report answers questions like “Are consumers trading in car ownership for ride-sharing?” and “Are consumers sick of dining out?”
The report findings uncover trends in a variety of industries and include the following:
- Media and entertainment: Social conversations about cutting the cord with cable companies and switching to services like Netflix or Hulu increased sevenfold between 2013 and 2016. Consumers blame cost, commercials, customer service and video-on-demand limitations.
- Health and wellness: Yoga dominates fitness conversations – almost as much as every competing topic (such as Zumba, Pilates and others) combined. Meanwhile, fitness apps and products like FitBit are eating into conversations about personal training, growing from 10 percent to 50 percent of the conversation from 2012 to 2016.
- Transportation: When it comes to driverless car conversations, consumer sentiment is mostly angry and fearful, with fear increasing from 30 percent of the conversation in 2010 to 50 percent of it in 2016.
- Technology: Digital payment conversations include PayPal, Bitcoin and Venmo, but the youngest audiences most often focus on Venmo. Bitcoin conversations are dominated by males (80 percent) and focus on prices.
“Social media data provides brands with the largest consumer focus group on the planet – and the most transparent one,” said Stephanie Newby, CEO of Crimson Hexagon. “Our U.S. Trends Report demonstrates the kind of insights brands can glean from this much data, especially when it is analyzed alongside structured data sources to support strategic decision-making.”
Given the number of products and services available to today’s consumer, companies in the media and entertainment, health and wellness, transportation and technology markets need to gain a deep understanding of their base faster in order to keep up with the competition and the consumer. Crimson Hexagon’s U.S. Trends Report is available for free download at www.crimsonhexagon.com/us-consumer-trends.
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About Crimson Hexagon
Crimson Hexagon is the global leader in consumer insights from social media data. Powered by patented technology and an in-house data library of more than 1 trillion posts, Crimson Hexagon's platform helps hundreds of brands and agencies answer critical business questions through the insights derived from social data. Clients include leading global organizations such as General Mills, Starbucks, Paramount Pictures, Anheuser-Busch InBev, Adidas and Twitter, and leading agencies such as TBWA, VML, BBDO, Saatchi & Saatchi, Ogilvy, Edelman and Digitas. Find us on Twitter and on Tumblr.
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