Will video be the key to revitalise economies in the 2020s?
According to Pwc’s annual Global Consumer Insights Survey, health and wellness were already in focus. More than half (58 per cent) of respondents said they were making time each week to improve their health and general wellness as well as adopting a better diet.
This desire for a healthier lifestyle arguably grew stronger during lockdown. In the current survey, more than three-quarters of the respondents “agreed” that they are more focused on taking care of themselves because of Covid-19, across the following categories: Mental health and wellbeing (83 per cent); physical health and fitness (85 per cent); diet (84 per cent); and medical needs (88 per cent).
We have already seen many organisations adapt to video in some form or the other during Covid-19. Fitness First in the UAE, for example, had their personal trainers livestream their workouts and many people start to find online applications to help them with the health and wellness journey. And Apple launched Fitness Plus, allowing users and fitness enthusiasts to follow along a variety of workouts to help them reach their fitness goals.
Users are also preferring to consume content on their mobile devices vs an alternative due to ease, convenience, mobility and more.
Soubhi Droubi, head of content operations at Huawei Mobile Services MEAI, said: “The pandemic accelerated digital consumption as consumers shifted to digital entertainment as a welcome distraction. The shift of entertainment online has seen an uptake in video-on-demand, with advertising video on demand and subscription video on demand faring particularly well. The future is ripe with opportunities for both a video and a hybrid reality.”
Recent consumer adoption of over-the-top (OTT) services has made it the dominant entertainment platform, positioning itself as an ideal platform to generate e-commerce leads, he added.
For instance, OTT could implement e-commerce integrations that would take product placement to the next level. Features such as searchable information about the actors in a scene with an interface that allows you to
seamlessly purchase the music soundtrack or the apparel with a few clicks will enhance brandconsumer relationships.
“The possibilities are endless when it comes to OTT service,” Droubi pointed out.
We must remember that unlike
the Western world, mobile shopping still continues to be a growing trend here in the region. The impact of Covid-19 has forced change: Consumers who were previously resistant to using mobile payment channels discovered that purchasing goods and services on their smartphone was not only easy but convenient too.
Three-quarters (75 per cent) of the Middle East survey said they had increased their consumption of social media such as Facebook, Instagram, Twitter, Tiktok and Likee as a result of social distancing and other isolation measures, substantially more than the average of 52 per cent for all territories.
“Livestreaming is becoming extremely popular both in the region and across the world,” said a spokesperson from Bigo Live.
“People are looking for new ways to explore and discover the world around them whilst being in a safe and comfortable environment. With technology evolving at an exponential pace, we will start to see users engage with livestreams from individuals and brands in a more efficient and authentic manner where they can actively participate in live and virtual events or perhaps even make purchases online after a live engagement.”
Emad Haffar, head of technical experts at Kaspersky, said: “Social media applications have become a huge part of our lives especially now during these unprecedented times. As social media usage increases, it is important to stay vigilant about the dangers that lurk on these platforms.”
“It is also vital to protect your data from falling into the wrong hands and potentially be used against you by cybercriminals looking for financial gain or another third party. To stay safe on social media applications, users can keep in mind simple steps like not sharing their passwords for online accounts with anyone and not using the same password for more than one account.”
Video is not only a trend, but a medium that is here to stay. The continuous evolution of technology and social media will only enhance its versatility and create more opportunities for individuals, small businesses and multinational organisations alike. Video certainly has the potential to revitalise economies and we are just witnessing the beginning of a world of opportunities brought directly to people’s screens regardless of where they may be.