A Quarter Of UK Consumers Are Willing To Pay More For Faster Broadband Speed As A Result Of COVID-19
Nov 16, 2020
London, November 16, 2020 – A quarter (25%) of UK consumers are willing to pay more for increased broadband speed as a result of COVID-19. This is according to a new survey of 6,000 respondents across the United Kingdom, France, Germany, Spain, the United Arab Emirates, and the United States by global management consultants Oliver Wyman.
The UK ranked the highest of those willing to pay more, followed by France (23%), Germany (23%), USA (21%), UAE (19%) and Spain (14%).
The survey also found that just under a fifth (19%) of UK consumers now place more importance in their telecommunications provider, with only the UAE (23%) and the US (20%) ahead. The top reasons stated for choosing a provider are quality of connection (30% of consumers overall ranked it most important), followed by price (25%) and customer service (20%).
Uwe Lambrette, Partner, Communications, Media, and Technology, says: “The survey findings demonstrate the importance of fast connectivity as remote activities like working from home and socialising online become the new normal. With consumers being ever more demanding in terms of speed, price and customer service, telecommunications companies will need to up their game in all of these areas to gain and retain customers.”
The survey also asked about 5G, which ranks low on respondents’ list of priorities. The UK ranks highest among those who are indifferent at 50%, followed by Spain (38%), France (37%), USA (33%), Germany (31) and UAE (29%). Of those who are skeptical, France ranked the highest (31%), followed by Spain (30%), Germany (25%), the UAE (21%) and the UK (21%).
Lambrette adds: “Providers need to do more work to explain the benefits of 5G, a key evolution in telecommunications services. Showcasing its benefits, for example the notable upgrade in speed, will be crucial for a successful rollout across the various countries surveyed.”
Oliver Wyman conducted its international survey in October 2020 to capture how views of telecommunications services are changing as the COVID-19 pandemic evolves. The survey involved more than 6,000 participants across six countries (France, Germany, Spain, the United Arab Emirates, the United Kingdom and the United States).
About Oliver Wyman
Oliver Wyman is a global leader in management consulting. With offices in 60 cities across 29 countries, Oliver Wyman combines deep industry knowledge with specialized expertise in strategy, operations, risk management, and organization transformation. The firm has more than 5,000 professionals around the world who work with clients to optimize their business, improve their operations and risk profile, and accelerate their organizational performance to seize the most attractive opportunities. Oliver Wyman is a wholly owned subsidiary of Marsh & McLennan Companies [NYSE: MMC]. For more information, visit www.oliverwyman.com. Follow Oliver Wyman on Twitter @OliverWyman.