Why e-commerce and online advertising have still so much room to grow - and how the US is falling behind in the digital experience
Today, US E-commerce is ~$450 billion per year - out of $5 Trillion in US retail spending (or only just about 10%) which is just a fraction of the $12 trillion per year US consumer spending - so which sectors are up next for transformation (hint: restaurants, groceries, insurance, etc.). With 10% of e-commerce vs. total retail consumer spending, the US trails China, South Korea and even the UK with multiples...
Online advertising is worth $220 billion today, reaching ~40% of ad budgets, but there is another $500 billion left globally in the non-advertising marketing spend (direct marketing, product placement, events, etc).
Asia now generates more mobile data than North + South America plus all of Europe together... indicative of their spending power.
If you have 30 minutes to get a very different view on the state of technology, based on facts and statistics, then watch the above presentation by Benedict Evans at the a16z Summit (November 2018). It's a rapid-fire update on where the (online) world is today, and where tomorrow's obvious growth opportunities will be. You won't be multitasking during this video - at least not if you want to absorb the massive amount of data and great insights being shared in just 30 minutes. Enjoy !
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This presentation offers a fascinating glimpse into the evolving landscape of technology and its impact on various sectors. There's enormous potential for growth in areas like restaurants, groceries, and insurance. As for economics dissertation topics , consider exploring subjects like "The Impact of Digital Transformation on Traditional Retail," "Global E-commerce Trends and Their Economic Implications," or "The Role of Mobile Data in Shaping Consumer Behavior." These topics align with the changing tech landscape discussed in the presentation. Thrilling times ahead!
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