Consumers excited about high speeds 5G brings

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JANUARY 21, 2020 - 1:06 PM

Faster data transfer speed is what South-east Asian consumers are most looking forward to when it comes to 5G technology, followed by faster connectivity with wearable devices and better video streaming, a survey has found.

Verizon Media's study, conducted with Publicis Media’s Data Science division, examined how both consumers and advertisers expect 5G to transform experiences in the very near future, the company said in a press statement.

They surveyed over 600 consumers and 140 marketing professionals from Singapore, Malaysia, Indonesia and the Philippines – countries that are targeting to launch commercially-viable 5G networks as early as this year. 

Among them, 92 per cent say they have heard about 5G, while slightly over half said they were "extremely excited" about its arrival.

However, it seems awareness of the actual benefits of 5G is low, with about one-third of consumers and just 20 per cent of marketers saying they were "at least moderately familiar" with the its benefits.

Regardless, nearly four in five of consumers say they are most excited about faster data transfer speeds, since according to estimates, it only takes four seconds to download a full HD movie with 5G.

Other benefits consumers are looking forward to include experiencing better, faster connectivity for their wearable devices (62 per cent) and better video streaming (59 per cent).

As for advertisers, their level of excitement towards 5G differed according to the industry they are from. Those from the electronics/tech, financial services, retail/ecommerce, personal care, cosmetics and telecoms industries said they were "very excited", while the ones from healthcare, pharmaceutical, travel and hospitality were "moderately excited". Advertisers from the fast-moving consumer goods sector said they were "slightly excited".

Even so, nine in 10 advertisers believe 5G will lead to significant improvements across areas like content production, more immersive ad formats, better targeting with more data and enhanced video streaming experiences.

“With significantly greater throughput and much lower latency, 5G will allow brands to power new kinds of consumer experiences. Both volume and quality of content consumed will increase with 5G; that includes not only video but also the more vivid immersive experiences like AR and VR,” said Francis Fung, senior insights manager in international consumer growth marketing at Verizon Media, said in a statement.

However, given the relatively low level of familiarity marketers have towards 5G, Mr Fung said advertisers will have to work strategically with the right partners to realise the opportunities possible with the 5G revolution.