Hopefully you’ve well and truly shaken off the January blues now that February has been and gone. As it’s time for a quick roundup of some of the most interesting digital marketing stats from the month.
Lack of data literacy costing UK businesses £10 billion in productivity a year
A study from Accenture has revealed the impact a lack of digital literacy is having on some businesses throughout the UK. The research shows that businesses whose workforce is ill-equipped for the digital age are missing out on billions in productivity.
The digital literacy skills the study is referring to are mainly the ability to read, analyse and work with data. Only a small percentage of respondents to the study (17%) stated that they felt confident in these skills. Many businesses fail to provide the correct data tools for the skill levels of their staff. Resulting in up to 67% of them feeling overwhelmed when working with the data they’re supplied with.
This also leads to at least one fifth of employees procrastinating when it comes to tasks involving data. Which only adds to the £10bn in lost productivity many businesses are experiencing each year.
Over half of publishers agree that podcasting initiatives will be important in 2020
Over the last few years, podcasting has continued to see positive growth. The medium has become increasingly popular for brands wanting to tell their stories and connect more with their target audiences. A recent report from Reuter’s Institute has highlighted how the medium is now more important than ever for many publishers.
53% of publishers stated that podcasts, including daily news and chat interviews were hugely important initiatives for them in 2020. 47% of respondents, from both traditional publishing companies and digital starters, also said that serialised podcasts are important initiatives too.
More brands are predicted to focus on podcast initiatives, as they become increasingly more accessible and measurable. However, many are still reluctant to fully embrace the format, due to the ambiguity that still surrounds ROI and monetisation.
Legacy banks still hold the largest audience size for banking apps
Technology company, Ogury, released the results of a study that focused on the UK’s usage of mobile banking apps. The results paint a clear picture that legacy banks still make up the majority market share of app usage. In fact, the UK’s 5 best performing banking apps in terms of audience size, are Barclays, Lloyds, Natwest, Halifax, and Santander respectively.
The analysis of almost hundreds of thousands of British mobile users between July and September 2019 also found that smaller, more recently created banks made up less than 14% of the banking app market share. These so-called challenger banks are growing in popularity though.
Neobank, Monzo, which currently holds six percent of the mobile banking market share, is predicted to greatly increase in audience size. Over the studied time period alone, 15% of all downloads were for the Monzo app. Audiences for the challenger bank apps also seem to be less exclusive than those who frequently use the apps of traditional banks. As around 80% of users for Monzo, Starling, Revolut, and N26 had at least 2 or more banking apps.
Last year was the worst for retail in 25 years
2019 was not a good year for UK retail, at least according to figures released by the British Retail Consortium (BRC). The figures highlight how the total retail sales dropped by 0.1% in the UK last year, which was the first annual sales decline since 1995. The last two months of 2019 were particularly bad for sales, showing a decline of 0.9% year on year.
In contrast, 2018 actually showed a 1.2% growth in retail sales. But 2019 certainly was the worst year on record and the first year to show an overall decline. Various factors are said to have contributed to this, including Brexit uncertainty, political instability and a sharp drop in overall consumer confidence.