Each month, Bespoke runs a survey of 1,500 US consumers balanced to census. In the survey, we cover everything you can think of regarding the economy, personal finances, and consumer spending habits. We’ve now been running the monthly survey for more than three years, so we have historical trend data that is extremely valuable, and it only gets more valuable as time passes. All of this data gets packaged into our monthly Bespoke Consumer Pulse Report, which is included as part of our Pulse subscription package that is available for either $39/month or $365/year. We highly recommend trying out the service, as it includes access to model portfolios and additional consumer reports as well. If you’re not yet a Pulse member, click here to start a 30-day free trial now!
Along with valuable macro analysis, our Pulse survey also covers groups and sectors like smartphones, e-commerce, streaming media, and social media. Having long-term data on these sectors allows us to identify shifts in consumer activity and sentiment essentially in real time.
Yesterday we published a post featuring a couple of charts that are part of our broader smartphone coverage in our monthly Pulse report. Today we wanted to highlight a couple of interesting charts related to the social media space.
The first chart below shows the historical results from a question we ask consumers (balanced to US census numbers) regarding social media accounts. In our June 2017 survey, 71.6% of consumers reported having a Facebook account. That’s far and away the largest percentage of any social media platform. Instagram (owned by Facebook) ranks second at 36.2%, while Pinterest ranks third at 31.3%. Twitter, LinkedIn, and Snapchat are bunched up together just under the 30% mark.
What’s notable in this chart is the historical trend. Facebook appears to have peaked out at just over 75% and is now trending lower. And up until recently, Instagram had been moving steadily higher, but even Instagram has started to see a decline in those reporting an account on the platform.
Another issue for Facebook is that younger age groups have started to see a dip in accounts lately. As shown below, the 18 to 24 demographic has been trending lower for the last year, while the 25 to 34 demo has dipped lower over the last few months. The only age groups that have seen a slight increase in accounts in recent months are the 65 to 74 demo and the 75 or older demo. That’s probably not a trend Facebook wants to see.
To see even more of our proprietary social media research, plus coverage of other sectors like streaming media and e-commerce, click here to start a 30-day free trial to our Pulse service now!