Are European Consumers Prepared For The 5G Revolution?

Must Read

List of First Bank of Nigeria Sort Codes in Nigeria

The sort code is a number that usually identifies both the bank and the branch where an account is held. The sort...

List of United Bank for Africa (UBA) Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number that usually identifies both the bank and the branch where an account is held. The sort...

How To Block Your Bank Account And SIM Card In Case Of Emergency

Losing your phone and wallet or having them stolen can be very frustrating. However, in case that happens to...
- Advertisement -

The much-hyped rollout of the superfast mobile internet, known as 5G began in 2019. Whilst it is scheduled to take a few years to reach a significant level of the population across the EU5 (UK, France, Germany, Spain and Italy), it is already available in key cities.

The development of 5G is very important because this speed of connection is needed to properly bring the Internet of Things to life. In theory, at least, it offers the opportunity for anything and everything to be connected and brings the dream of technology such as autonomous vehicles and smart cities a significant step closer to reality. It will mean reliable streaming without a Wi-Fi network with an estimated download time of 4-40 seconds for a high definition film. The impact on business and ultimately people’s lives will be significant, not just communications and access to entertainment, but more significantly with things like telemedicine and virtual spaces.

A recent piece of Kantar’s Worldpanel ComTech research across the EU5 revealed that there is still quite a piece of education to do with the general public about what 5G is and the possibilities that it will offer to them. As of Q2 2019, only just over half the population really knew about 5G – 9% of consumers claimed to know a lot and 44% had a little knowledge of it. In contrast, 12% had not heard of 5G at all and 36% had heard the term but knew nothing about it. If networks and handset producers are using 5G as a selling point, which of course they are, part of their task looks to be explaining and demonstrating the benefits to the majority of the population.

Read Also:  Kantar Media integrates Facebook data into social TV ratings

What is interesting though, is that lack of knowledge and understanding isn’t necessarily a deterrent to purchasing a 5G device. A total of 60% of consumers had an intention to buy one, of this 16% was a definite and 44% said that they probably would. Perhaps unsurprisingly these consumers demonstrated a high interest in technology, film and TV.

- Advertisement -

Attracting consumers to purchase a 5G handset is potentially very lucrative as 20% of those intending to purchase a 5G device was intending to spend over €750. Of those intending to purchase a device, 57% were male. Those who did intend to buy a 5G device were mainly users of Apple (6-X), Samsung Galaxy (S8, S9 and A5) and Huawei P8 Lite 2017.

Read Also:  Nigerian Rideshare App reports success

Nearly a quarter, 23%, of those intending to purchase is currently Apple owners, which presents both an opportunity and a threat to the brand. At the moment, Apple does not have a 5G offer, so, on the one hand, there is clearly the demand for them to bring one to market in the near future. On the other though, there is the possibility that this could be an opportunity for other brands which do offer 5G to cannibalise Apple’s market share.

Those who already owned a 5G device rated the processor (quality/speed), screen clarity, storage capacity and battery life as the key features that were important to them. Size of screen and quality of the camera were also key drivers

- Advertisement -
Are European Consumers Prepared For The 5G Revolution? - Brand SpurAre European Consumers Prepared For The 5G Revolution? - Brand Spur

Subscribe to BrandSpur Ng

Subscribe for latest updates. Signup to best of brands and business news, informed analysis and opinions among others that can propel you, your business or brand to greater heights.

- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Are European Consumers Prepared For The 5G Revolution? - Brand SpurAre European Consumers Prepared For The 5G Revolution? - Brand Spur

Latest News

Japaul Gold Leads Market Gainers with 8.70% Gain

Investor sentiment was less negative today as the market breadth advanced from 0.75x to 0.83x. 15 stocks gained at...
- Advertisement -
BrandsPur Weekly Cartoons
- Advertisement -Are European Consumers Prepared For The 5G Revolution? - Brand SpurAre European Consumers Prepared For The 5G Revolution? - Brand Spur