Snapchat's Growth: In its Q3 earnings, Snapchat reported it had 178 million daily active users (DAUs), adding "just 4.5 million users [this quarter]," according to CEO Evan Spiegel. "It's a lower rate than what we would have liked. Ultimately, we want to drive more user growth in 2018," he said during the company's call.
Millennial Overview: A new survey of millennials put out by ROTH Capital Partners found that nearly one-third of respondents say they prefer to shop online, and more than four in 10 do research online prior to an in-store purchase. In addition, nearly half of millennials belong to some sort of subscription service for purchases.
Digital Content Cash Cow: Consumers are increasingly handing over their cash for digital content. New data from Juniper Research puts the amount consumers will spend on digital goods worldwide at $202 billion by next year, an increase of 10% from 2017's figure. Much of that growth will originate from subscription video-on-demand (SVOD) services such as Netflix, the firm reported.
Beyond Alexa: According to Parks Associates, 41% of US homes with broadband internet access plan to purchase some kind of smart-home device within the next year. The most popular devices consumers intend to purchase include things like smart smoke detectors, thermostats and light bulbs.
SMBs Stay Bullish: A recent survey from Bank of America of small-business owners in the US found strong confidence in the economy. Almost 75% of respondents expected their 2017 revenue to exceed last year's tally. The survey also revealed that about half of small businesses in the country have plans to expand sometime over the next five years.
Key Concerns: There might be muted demand for Amazon's recently announced Amazon Key service, which lets the ecommerce company deliver packages directly into homes using smart lock technology. Recode's poll of Amazon Prime members found that 58% of respondents would definitely not pay for the service, while only 5% were certain they would fork over cash for the offering. Those indifferent to Amazon Key cited privacy and security concerns.
Consumer Confidence Positive: New data from Gallup shows that confidence in the US economy was slightly positive in October, at +3 on the US Economic Confidence Index. The index reflects how those in the US feel about current economic conditions, as well as whether they think the economy is improving or worsening. Gallup reported that sentiment about the economy was more positive in early November than it had been the previous month.
Biometric Banking: Biometrics technology is quickly making its way into the banking sector. According to ABI Research, 160 million payment cards will have fingerprint sensors embedded in them by 2022, reflecting a five-year compound annual growth rate of roughly 400%. The company also projects that biometric payment cards will see strong initial uptake in the Middle East, Africa and North America.