When was the first time you got a cell phone?
When I was younger, I always marveled my parent’s cell phone. Whenever they were not looking, I would sneak it out of my mom’s purse and play games on it or call a family member. It wasn’t until I graduated from eighth grade that I finally owned my first cell phone! It was the beginning of a whole new world.
There wasn’t much I could do with my first cell phone that I could do now. Sure, I could text or call my friends but I never used the internet, sent emails, listened to music on it or used apps. Cell phones were in the initial stages of becoming the next new digital media medium. Over the following years, cell phones transformed from being a device used to call someone to becoming a handheld computer. By the time I entered college, I had an iPhone which changed the way I viewed communication and eventually cell phones changed the way people sell products to one another.
This is called mobile advertising- and it’s on a rise.
Due to the increased use of smartphones and internet technologies, China has now become the “fastest growing mobile advertising market in the world” (1). China has become a huge advertising expenditure that its broadcasted to grow at…get this… 834%! That is about three times the global growth rate in the advertising industry from 2013-2016.
You may be wondering which categories are experiencing such high growth in mobile advertising. These are: automotive, luxury and beauty. These fields are booming in the mobile advertising field largely due to Chinese people born between 1982-1994. This range of people use mobile technology the most and TRUST their mobile phone with payment. In addition, they are the biggest spenders.
Although North America and Western Europe have a larger population of smartphone users, China has the third largest population “which indicates that China is a mature market in terms of smartphone penetration” (1).
Chinese advertisers have two huge advantages. One is the ease in which they can adapt to new technologies. Secondly, they also tend to be conservative when it comes to the exchange of digital technologies with their overseas peers. This allows them much more room for future progress. Advertisers are putting more attention into localization because it will allow them to create a business model in which can help them determine change in trends.
Dexing, Q. (Ed.). (2014, October 22). Mobile advertising on a roll: Report. Retrieved October 23, 2014, from http://www.ecns.cn/business/2014/10-22/139406.shtml
Image taken from: http://www.ecns.cn/business/2014/10-22/139406.shtml