Hooton: “American consumer preferences are trending toward internet-enabled services across activities from banking to shopping.”
Washington, DC – Internet Association today released the Q3 2018 IA Industry Indicators Report (3I Report) which provides quarterly indicators for the internet sector. This quarter’s report features a deep-dive on American consumer sentiment around the internet, micro- and macroeconomic indicators, and a Digital Price Index that tracks inflation for digital goods and services.
“American consumer preferences are trending toward internet-enabled services across activities from banking to shopping,” said IA Chief Economist and Head of Research Dr. Christopher Hooton. “More and more, consumers appreciate the many ways the internet benefits our daily lives. The IA consumer sentiment survey shows an increase, in every quarter throughout 2018, in positive sentiment towards the internet and its role in our economy.”
Key findings from this issue of the 3I Report, which draws on data from Q3 2018, include:
- More Than 85 percent Of Americans Believe The Internet’s Contributions Are Good Overall, According To IA’s Sentiment Survey. The gross favorable percentage – the sum of positive survey response options – was 85.5 percent. The net favorability percentage – positive responses minus negative responses – was 71 percent. In other words, seven in 10 Americans view the internet’s contributions to society as good even when accounting for any perceived negatives.
- Consumer Sentiment Grew Each Quarter Of 2018. From Q1 2018 through Q4 2018, IA’s general internet sentiment index ticked steadily up, with increases every quarter.
- Consumer Spending On The Internet Decreased In Q3, While Time Spent On The Internet Increased. The average American adult spent approximately three hours and two minutes online per day for personal use (i.e. not work). The figure is an increase of nearly 20 minutes over the average spent online in Q2 2018. Yet despite more time online, American adults decreased their online spending slightly with the average adult spending approximately $91.42 for personal use/services online in Q3. In Q2, average expenditure was $93.40.
To read the full 3I Report, click here.