Discussions were held with a panel of college students with the aim to better understand how millennials think about social media, communications, video, virtual reality, augmented reality and privacy, Loup Ventures’ Gene Munster said in a report.
Their findings included important takeaways for Snap Inc SNAP, Facebook Inc FB and Apple Inc. AAPL.
Learnings From Views Of Millennials
Munster mentioned the following takeaways:
Text Is Dying: Millennials view texting as a formal mode of communication. Text is gradually being replaced by video and photos. The preferred communication platforms for texting are Snap, Facebook and Facebook's Instagram. Microsoft Corporation MSFT's GroupMe came as the clear leader in the group messaging category.Photos Rule: Millennials love Snap because they communicate through photos, there are filters and geotags to enhance those photos, and Snap is a tighter social network.Snap Spectacles: These will become mainstream as pricing comes down.Phones: All students in the panel wanted iPhone to be their next phone. New phones are purchased when their contract is up, which tends to be every two to 2.5 years. “The AR features of the iPhone X this fall generally did not appeal to our panelists,” Munster wrote.Preferred Social Networking Platform: Snap seemed to be the preferred social platform, followed by Instagram. Snap is popular for its real-time story of your day. “We believe the camera is at the center of how Snap must advance the platform with new devices and new features to stay ahead of Facebook’s improved filters. If Snap slows on its vision as a camera company, Facebook will likely catch them,” the analyst commented.VR & AR: The panelists felt that more compelling experiences were needed to drive repeat engagement with VR. None of the panelists considered AR in the next iPhone as a compelling enough feature for an upgrade.“VR and AR have a long way to go, but we will get there. The students see the conceptual value of VR and are struggling with what’s exciting about AR. Despite these concerns, the group has an insatiable appetite for technology. They will continue to experiment with AR even though the experiences and use cases will be limited for the next few years,” Munster stated.
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