Shift from traditional entertainment and media gathers pace

The survey — assessing the behaviour, habits and expectations of over 21,000 online consumers in 27 territories —found that 38% of global consumers stream entertainment at least daily, and among Gen Z consumers, cord-cutting for entertainment is at more than 50%.Moreover a quarter of consumers are turning to social media first for news on current events. Given how pervasive social media is today, this did not come as a surprise, stated PwC. Social media-placed ads that allowed consumers to interact with a brand is now ranked as the third most effective form of advertising, and among millennials, this is the most popular form of advertising - beating out traditional television advertising.The GCIS also found that consumers bombarded with a multitude of choices were constantly seeking tools to help simplify their purchasing decisions.“The key to a great end-to-end customer experience isn’t just about the shopping and retail experience - it spans across industries,” said John Maxwell, global consumer markets leader, PwC commenting on the Global Consumer Insights Survey. “Consumers are looking for a seamless and easy purchasing journey, and companies can achieve this by using a blend of both physical and digital approaches. The result is a greater return on experience with the customer and more lasting results for businesses.”