Pew Research Center Report Notes Key Facts about Asian Americans, a ‘Diverse and Growing Population’

By Staff
Friday, May 7, 2021 2:14 PM NEW YORK—The U.S. Asian population is diverse and growing, according to a recent Pew Research Center analysis. A record 23 million Asian Americans trace their roots to more than 20 countries in East and Southeast Asia and the Indian subcontinent, each with unique histories, cultures, languages and other characteristics.

Asians now make up about 7 percent of the nation’s overall population, and their numbers are projected to surpass 46 million by 2060, according to the Pew Research analysis.

Single-race, non-Hispanic Asians are projected to become the largest immigrant group in the country, surpassing Hispanics in 2055. By then, Asians are expected to make up 36 percent of all U.S. immigrants, while Hispanics will make up 34 percent, according to population projections from the Pew Research Center.

Nearly half of U.S. Asians (45 percent) live in the West, with nearly a third (30 percent) in California alone. California had an Asian population of roughly 6.7 million in 2019, by far the nation’s largest. New York (1.9 million) ranked second, followed by Texas (1.6 million), New Jersey (958,000) and Washington (852,000). A majority of U.S. Asians (55 percent) lived in these five states.

While a plurality of Asian Americans lived in the West in 2019, some 24 percent lived in the South, 19 percent in the Northeast and 12 percent in the Midwest.

Travel Tops the List Upon Return to Normalcy

By Staff
Thursday, May 6, 2021 4:29 PM When asked what they are most looking forward to in the future, nearly all of the respondents (88 percent) to a recent Women In Optometry Pop-Up Poll stated that they had travel plans on their wish list. Respondents could select as many future activities as they wished. Among the other most popular responses, poll participants said that they are looking forward to

• Attending professional meetings: 57 percent.
• Spending time up-close with friends: 55 percent.
• Letting their kids do things that they have not be able to: 38 percent.
• Going back to the gym/yoga studio/salon: 36 percent.
• Taking delayed big action such as buy a home, open an office or have a wedding: 14 percent.

Several respondents also mentioned that they were looking forward to not wearing a mask.

Click here to read the full story from Women In Optometry.

Over a Billion Were Unwilling to Get Vaccinated in 2020

By Staff
Wednesday, May 5, 2021 4:59 PM Gallup recently published a poll showing that the share of people around the world willing to get vaccinated against Covid-19 in 2020. The data shows that willingness came to 68 percent—short of the 70 percent to 90 percent threshold experts believe is required to achieve herd immunity. There are significant differences between countries and Gallup found that majorities would actually refuse the vaccine in 20 countries, mainly across Eastern Europe and Africa.

In total, the research found that more than a billion peope were unwilling to get vaccinated in the first year of the pandemic.

Gabon had the highest levels of refusal in 2020 at 66 percent, followed by Cameroon and Jordan with 65 percent and 62 percent, respectively. Hungary, Bulgaria, Bosnia and Herzegovina, Russia and Kazakhstan were also among the countries with the highest levels of unwillingness at 60 percent or higher. Click here to read the full story from Statista.com.

Digital Commerce Spend to Exceed $11.6 Trillion in 2021, as Transition to Digital Channels Accelerates

By Staff
Tuesday, May 4, 2021 3:54 PM A new study from Juniper Research has found that digital commerce spending will rise to over $11.6 trillion by the end of 2021, from $10.5 trillion last year; a growth of 11.5 percent in a single year. This spend encompasses money transfer, digital goods purchases, physical goods purchases, digital ticketing purchases, banking bill payments, NFC mobile retail payments and QR code retail payments. The research found that the success of digital solutions during the pandemic means that consumer behavior will become increasingly digitally led.

Ranking the Cities with the Fastest 5G Speeds

By Staff
Monday, May 3, 2021 3:23 PM 5G technology is touted by service providers and tech companies as being able to increase data transmission speeds to unprecedented levels. Although 5G networks are being built all over the world, implementation if far from global at this point, and network speed varies from network to network.

To underscore these differences, Statista cites an analysis by wireless mapping company Opensignal of real-world 5G measurements across all frequency bands.

The Heyday of Television Advertising May Have Passed, Research Firm Says

By Staff
Friday, April 30, 2021 2:46 PM NEW YORK—The U.S. market for television advertising hit its highest point ever in 2018, a year that featured the Winter Olympics and a midterm congressional election, according to the market research firm eMarketer. However, no one realized it was a peak at the time,” the firm noted in a recent analysis of the television and out-of-home (OOH) advertising markets.

Linear TV, according to eMarketer, had been “stagnating for several years,” but yet in early March 2020 the combination of the upcoming Summer Olympics and a big presidential campaign season was expected to produce a record $72 billion in TV ad spending last year.

Well, as we know, the political ad spending was robust in the hotly contested November election, but “nothing else about last year went as expected for TV, and spending on that media type declined by 12.5 percent year over year, rather than increasing by our pre-pandemic estimate of 2 percent,” eMarketer said. “While TV ad spending will rise again this year, by 6.7 percent, we don’t expect it to reach 2018 levels ever again.”

The OOH market experienced a similar drop in 2020, but it is expected to see more of a rebound. OOH ad spending peaked in 2019, but with the pandemic creating havoc last year this ad market fell a whopping 29.7 percent, according to eMarketer. The research firm attributed the decline to “fewer people [who] were driving past billboards, taking mass transit, or going to the types of venues and businesses that typically spend a lot on outdoor advertising.”

Mother’s Day Spending to Total $28.1 Billion, NRF Says

By Staff
Thursday, April 29, 2021 3:36 PM WASHINGTON—Mother’s Day spending is expected to total a record $28.1 billion this year, up $1.4 billion from 2020, according to the annual survey released today by the National Retail Federation (NRF). Approximately 83 percent of U.S. adults are expected to celebrate the annual holiday.

“There is a lot of consumer optimism around Mother’s Day this year as more people are getting vaccinated and stimulus checks are being distributed,” NRF president and CEO Matthew Shay said. “For many, this is a chance to make up for last year’s Mother’s Day when we were under lockdown. With safety guidelines at top of mind, consumers are planning to be with family, are making travel plans and organizing a special brunch or outing. All of these activities will be reflected through their purchasing decisions.”

This year consumers plan to spend an average of $220.48 on Mother’s Day items. This figure is $16 more than they planned to spend last year and the highest in the survey's history.

Record spending on gifts of jewelry and electronics are the primary drivers of the increase. Jewelry accounts for over half (59 percent) of the $1.4 billion increase in spending while electronics accounts for over one-quarter (28 percent).

Click here to read the full story from the NRF.

Most Americans Support a $15 Federal Minimum Wage

By Staff
Wednesday, April 28, 2021 5:19 PM About six-in-ten U.S. adults (62 percent) say they favor raising the federal minimum wage to $15 an hour, including 40 percent who strongly back the idea. About four-in-ten (38 percent) say they oppose the proposal, according to a Pew Research Center survey conducted April 5-11.

The Biden administration and many congressional Democrats favor increasing the federal minimum wage to $15 an hour from the current rate of $7.25 an hour, but the proposal’s fate in the Senate is uncertain. Some senators, including several Democrats, support a more modest increase in the wage.

Among the public, those who back a $15 minimum wage are fairly divided over how to approach the issue if there is insufficient support in Congress for an increase to that amount this year. A narrow majority of these Americans (54 percent) say leaders should focus on passing an increase to the wage “even if it may be significantly less than $15 an hour,” while 43 percent say the priority should be to work to raise the hourly minimum wage to $15 “even if no increase makes it into law this year.”

Click here to read the full feature from Pew Research Center.

New Transitions Survey Finds Employees Report Increased Eyestrain Since COVID-19

By Staff
Tuesday, April 27, 2021 3:24 PM The newly released 2021 Transitions Optical survey reveals a rise in reports of digital eyestrain during COVID-19, sparking employee interest in eyewear as a potential solution.

Digital eyestrain is becoming more prevalent as employees are now spending more time in front of their screens since the COVID-19 pandemic began—this according to the new Transitions Optical Workplace Wellness survey. In turn, employees are looking to eyewear as a potential solution.

E-Commerce Losses to Online Payment Fraud to Exceed $20 Billion Annually in 2021

By Staff
Monday, April 26, 2021 4:27 PM A new study from Juniper Research has found that the value of losses due to e-commerce fraud will rise this year, from $17.5 billion in 2020 to over $20 billion by 2021; a growth of 18 percent over a single year. The research found that fraudsters have targeted consumers as they have increased their e-commerce use; exposing insecure fraud mitigation processes from merchants who are unfamiliar and unprepared for the continuing fraud challenges in this market.

Forecast Shows Podcast Ad Spending Topping $2 Billion Annually by 2023

By Staff
Friday, April 23, 2021 3:51 PM NEW YORK— Ad spending across podcasts is soaring, according to a new forecast. Indeed, eMarketer in its updated forecast on the podcasting sector forecasts that in the U.S. ad spending via podcasting will top the $1 billion mark this year. Its ascent will continue for the next few years, also.

In its latest forecast, eMarketer finds that podcast ad spending will exceed $2 billion by 2023. The firm said it upgraded growth estimates primarily because of a 36.8 percent spike in ad spending during 2020. This jump will be followed by growth of 38.7 percent this year and 31.1 percent in 2022, according to eMarketer. The firm previously expected 10.4 percent growth in 2020.

Podcast advertising in the second half of 2020 “recovered faster than anticipated, audience numbers continued to climb, and digital audio is now a staple in many people’s media diets,” eMarketer said in a recent post. Podcasting has also benefited from companies like Spotify, Amazon, iHeartMedia, and others buying and promoting content studios and ad tech companies alike.

A slew of acquisitions and major moves from top companies has not helped with fragmentation when it comes to advertising in the podcast space. For instance, eMarketer estimated that iHeartMedia—which last year brought in more podcast ad revenues than any other company eMarketer tracks—accounted for only 10 percent of total U.S. podcast ad spending in 2020.

The Race Toward Full Vaccination

By Staff
Thursday, April 22, 2021 3:49 PM Scientists initially estimated that 60 percent to 70 percent of a population would have to acquire resistance to Covid-19 in order for herd immunity to take effect, a threshold that has been revised upwards since the start of the year with 80 percent to 85 percent quoted in some cases, according to a recent feature in Statista.com. The race towards full vaccination is well underway and Israel has the highest share of its population fully jabbed, according to Our World in Data.

With 27.7 percent of its inhabitants fully vaccinated, Chile comes second on the list, just ahead of Bahrain with 27.2 percent. In the U.S., the CDC announced that 50 percent of adults had received at least one jab while around a quarter of people have been fully vaccinated. In this case, full vaccination refers to all doses prescribed by the vaccination protocol with data only available for countries reporting the breakdown of their doses.

The U.S. Is Approaching the Vaccine Hesitancy ‘Tipping Point’

By Staff
Wednesday, April 21, 2021 3:36 PM The U.S. will probably run out of adults who are enthusiastic about getting vaccinated within the next two to four weeks, according to a KFF analysis published on Tuesday. Vaccine hesitancy is rapidly approaching as our main impediment to herd immunity, according to a recent feature from Axios.

"It appears we are quite close to the tipping point where demand for rather than supply of vaccines is our primary challenge," the authors of the analysis wrote. "Federal, state, and local officials, and the private sector, will face the challenge of having to figure out how to increase willingness to get vaccinated among those still on the fence, and ideally among the one-fifth of adults who have consistently said they would not get vaccinated or would do so only if required."

With supply having increased significantly and eligibility fully open to adults in all states as of April 19, the main question has become, when will supply outstrip demand?

NFR Says March Retail Sales Rebounded Strongly Amid Increased Vaccination and Government Stimulus

By Staff
Tuesday, April 20, 2021 3:51 PM Retail sales rebounded with huge gains in March as government checks fattened consumers’ bank accounts and more vaccination against COVID-19 made it easier for shoppers to get out of the house and lead the acceleration of the U.S. economy, the National Retail Federation said.

“The dramatic increase of nearly 18 percent in March retail sales over the same period last year confirms that a confident consumer is driving the rebound,” NRF president and CEO Matthew Shay said.

New Retail Business Models Are on the Horizon

By Staff
Monday, April 19, 2021 3:56 PM A new analysis by Signifyd, a leading provider of digital commerce protection, says that agility is more important than ever for retailers trying to navigate the today’s challenging business environment.

In its State of Commerce Report 2021, the company points out that the retail industry was already facing difficult conditions at the start of 2020. “Shopping malls had experienced a decrease in traffic around the country, which reflected a growing consumer preference for online shopping,” said Signifyd.