Perceived Surplus Value: How Consumers Judge Online Vs. Offline Media
The Boston Consulting Group has issued a new study on media satisfaction that reveals some interesting statistics on how much consumers believe they’re receiving in surplus value form online vs. offline content.
What does “surplus value” entail, exactly? According to All Things D, BCD defines the metrics as “the value consumers themselves place on a media-related activity or product over and above what they pay for it” – an interesting way to determine how consumers perceive the media they consume on a daily basis.
According to the BCG study, consumers netted a perceived value of $1,136 for online media compared to just $165 in price paid, leading to a surplus of $967. Conversely, consumers perceived $1,600 of value from offline media but paid $696, leading to a consumer surplus of just $904.
What other statistics did the survey reveal? PYMNTS.com breaks down the numbers in this edition of Data Point.
Surplus By Category: What Consumers Like Most
Consumers believe they receive the most online surplus value ($311) from user-generated content, such as social networks, which is probably correct given the relative low value of production on the business side. They perceive receiving $159 in online value from TVs and movies, while perceiving to benefit from $132 from radio and music. Video games and U.S. newspapers/magazines finished close behind, with perceived values of $132 and $119, respectively, while books brought up the rear in perceived online value at $83.
Value Per Device
The BCG study also demonstrated an obvious positive correlation between the number of devices used and the perceived value from the consumer side. Consumers who used only a computer saw $667 in value, while that number jumps to 41 percent, or $942, for consumers who use both a computer and a mobile device. Consumers who used computers, mobile devices and tablets saw a further 40 percent jump to $1,322 in perceived value, while consumers who used the aforementioned three devices plus a gaming system saw a 30 percent jump to a whopping $1,721 in extra value they believed to be receiving.