Commentary

Consumers Split On Paying Extra For 5G

Wireless subscribers are split on whether the benefits of the coming 5G are worth paying for.

However, the market is not so split on whether consumers will sign up for 5G wireless services in the next 12 months.

These are among the findings in a new study comprising a survey of 7,500 wireless subscribers and 5,000 heads of households conducted by HarrisX.

Nearly half (42%) of consumers say the availability of a 5G network is important in deciding which wireless service provider they go with.

Speed is perceived by 66% of consumers as the most important benefit of 5G, followed by more reliability (42%), high-quality streaming (40%), wider network coverage (34%) and enhanced data security (26%).

Interestingly, only 20% are excited about upgrading their home internet to 5G, as at least one indicator that wireless carriers still have some marketing to do in that arena.

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However, there is an even market split in perceived value, with 50% of consumers saying that 5G benefits are worth paying more for and the other half saying it is not.

The bottom line for wireless carriers is that fewer than a third (30%) of consumers say they are likely to sign up for a 5G wireless service plan in the next year if it became available.

The 5G technology is gradually rolling out. The 5G marketing will be required next.

 

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