SlideShare a Scribd company logo
Navigating the
New Wave of
Consumerism
  The New Reality
  By Rosally Daniel
We are in a new era where innovative,
disruptive and collaborative forces in
technology have converged to re-shape
our behaviors and expectations. No one
can ride the new wave of consumerism
alone. Our physical and our digital world
have converged, and there is no turning
back. It requires a new way of thinking
and looking at both worlds as one.
Understanding the new reality is the key
to unlocking the door to happiness and
profitability.
E-commerce
    E-commerce refers to the use of the Internet and the Web
    to transact business. More formally, e-commerce is about
    digitally enabled commercial transactions between and
    among organizations and individuals.

                                     (Laudon & Laudon)



    From about 2006 to the present, e-commerce reinvented
    itself. It involved the extension of Internet technologies, and
    the discovery of new business models based on consumer-
    generated content and social networks.

                                     (Laudon & Traver)
M-Commerce

 “ Mobile Commerce is the use of information
technologies and communication technologies for the
purpose of mobile integration of different value chains
and business processes, and for the purpose of
management of business relationships.”
(Webagency 2001)


_________________________________________________

Oliver Recklies,in 2001, saw two possible directions for M-
Commerce:

•   the next hype or

•   a natural evolution from E-commerce into a digital and
    mobile world.
The New Mobility
   Enterprise mobility refers to the integration of personal and
    professional information using mobile devices (Gartner
    Inc., 2012).

   Enterprise mobility fundamentally changed the way people
    work. In order to remain competitive, organizations needs
    to make enterprise applications accessible through mobile
    devices. (www.itstrategists.com)

   This convergence of personal and professional information
    blurred the barrier between physical and digital, personal
    and professional and evolved to a new wave of
    consumerism in which the customer expects a seamless
    integration of their experiences.
What is the Omni-channel?

   “Omnichannel is the mix of all physical and digital
    channels to create an innovative and unified customer
    experience.” (Seadly, D., 2012)

   As technology continues to evolve and change
    customers’ behavior and expectations, it’s becoming
    more and more important for companies, especially
    retailers, to be able to connect with their customers
    through all channels. At the end, the customer will
    decide at which channel they will interact with a
    brand, depending on the time and place. And with
    today’s tech savvy customers, it can be a choice of at
    least two or three channels that are readily available to
    them.
The New Wave of Consumerism
    Consumerization refers to the democratization of
    information through easier access to technology which has
    brought about the democratization of consumer power “

   The new trends in consumerization is fueling the shift from
    “consumer” to “customer”, as the new breed of
    superconsumer emerged – the “ubersumer”

   The “ubersumer” uses the machinery of Internet
    technology to self design and consume unique
    experiences.

   Today’s customers are tech savvy, impatient and disloyal.
                            (Burt, M., Gartner Inc. 2011)
Digitization + Social
   The ubiquity of the Internet and mobile devices are the main
    catalysts for the changing consumer expectations.

   Online consumers have embraced social networks and
    online communities. They use technology to shape their own
    customized shopping experience (Burt, M., Gartner 2013).

   Socially connected customers can spread the word of a
    shopping experience- good or bad – to a network of millions
    (Burt, M., Gartner Inc. 2011)

   Customer engagement in stores could make or break an
    omni channel experience. Stores will remain to be important
    as customers still prefer to have that interaction in the
    physical world to complete their transaction.
The Evolution of the Social Customer

   The social customers are hyper connected individuals who
    regularly broadcast their opinions over Twitter, Facebook, blog
    posts and in online communities.

   They expect to engage in real time interactions with each
    other and with companies on social media outlets.

   This new breed of customers evolved as the result of the
    ubiquity of the Internet, the Web and mobile technologies.

   Are mostly women who requires greater
    accessibility, personalization and community connections to
    support their multiple roles, preferences and lifestyles.

                                            (WIPRO)
Digital Integration: Omni Channel

   “Meet the customer anywhere” is driven by growing
    consumer expectations for a seamless service experience
    between all channels.

   Consumers are more willing to share information especially
    if they know they will benefit from it. It helps businesses
    provide better treatment, more relevant content, improved
    suggestions, recommendations and more valuable
    promotions. (MCommerce 2012)

   Improvements in technology should be matched by shifting
    the company culture as well. Technology alone cannot
    drive a successful omni channel business – it’s time to go
    back to basics. In store customer service will be the key
    differentiator.
A New Era: Understanding & Designing
a New Business Model
In September 2011, Deloitte 39 retail executives to
understand how they are adapting to a next generation format.
Highlights of their study are:

•   A call to retailers to reconfigure talent, physical space and
    store operations to meet or exceed customer expectations.
         • By incorporating social media and ecommerce into
            their stores
         • Hire or train sales associates to meet the demands of
            an increasingly tech savvy customer
         • In addition to technology, to make service quality a
            focus as this will distinguish good to great companies
            from their competitors.
                       (The New Evolution: Store 3.0, 2012)
Understanding the New Reality
   The new business reality is social and very customer-
    centric.

   Managers and associates, especially in stores have to be
    savvy working in this new era of social business. Training
    and understanding the new service environment is crucial.

   Companies needs to review their business practices and
    integrate their infrastructure to be able to deliver a
    seamless service experience for the customer.

   Omni channel is just not about technology – it’s about
    connecting with people in all channels, simultaneously.
Leadership Challenges

   How to integrate the enterprise by developing cross functional
    teams and filling in leadership vacuums.

   Finding the right managers who have the experience and
    innovative thinking while at the same time agile to keep up with
    the digital pace.

   How to enable associates to move between physical and
    digital by updating the company’s systems infrastructure and
    associate training into the new reality.

   How to transform existing business practices into one with
    social business components.

   How to break down departmental silos and change the
    company’s culture and organizational structure.
Working in Retail after 3.0
   Be proactive – learn new skills.

   You don’t have to be a techie – good old fashioned customer service
    skills are better than knowing the latest gadgets.

   Know your company’s digital brand image. Check your company’s
    website and identify at least two social media outlets where you can
    follow your company.

   You don’t have to have a digital presence. However, chances are your
    customers do. Check out the Twitter or LinkedIn profiles of your best
    clients. Find out what they’re upto but keep it positive. People will be
    flattered if you take the time to do your homework.

   If you do have a digital presence, just remember that everyone can see
    it. That’s where you get the best exposure – leverage it!

   Good old fashioned networking will always earn you points. In today’s
    world, you can do this online as well as in person. If you can do
    both, even better.
It’s all about connections.
  We are in this journey
        together!

More Related Content

What's hot

Age of experience - Sitel
Age of experience - SitelAge of experience - Sitel
Age of experience - Sitel
Federico Balaguer
 
Leading Trends in Retail Innovation by Brian Solis
Leading Trends in Retail Innovation by Brian SolisLeading Trends in Retail Innovation by Brian Solis
Leading Trends in Retail Innovation by Brian Solis
Brian Solis
 
State of influence 2.0 by Brian Solis and Traackr
State of influence 2.0 by Brian Solis and TraackrState of influence 2.0 by Brian Solis and Traackr
State of influence 2.0 by Brian Solis and Traackr
Brian Solis
 
Me Data - The Rising Opportunity for Self Optimization Apps
Me Data - The Rising Opportunity for Self Optimization Apps Me Data - The Rising Opportunity for Self Optimization Apps
Me Data - The Rising Opportunity for Self Optimization Apps
Beyond
 
Social Media Edmonton Case Study Jan2010
Social Media Edmonton Case Study Jan2010Social Media Edmonton Case Study Jan2010
Social Media Edmonton Case Study Jan2010
Jas Darrah
 
HCO: Human-Centred Organisations ESP
HCO: Human-Centred Organisations ESPHCO: Human-Centred Organisations ESP
HCO: Human-Centred Organisations ESP
Good Rebels
 
Planet of the Apps - How messaging apps conquered the world
Planet of the Apps - How messaging apps conquered the worldPlanet of the Apps - How messaging apps conquered the world
Planet of the Apps - How messaging apps conquered the world
Good Rebels
 
Fjord trends 2015: Design and Innovation
Fjord trends 2015: Design and InnovationFjord trends 2015: Design and Innovation
Fjord trends 2015: Design and Innovation
Ignasi Martín Morales
 
Dude where's my car. Product & Marketing Innovation Deep Dive
Dude where's my car. Product & Marketing Innovation Deep DiveDude where's my car. Product & Marketing Innovation Deep Dive
Dude where's my car. Product & Marketing Innovation Deep Dive
Good Rebels
 
SoLoMo - Future of Marketing
SoLoMo - Future of MarketingSoLoMo - Future of Marketing
SoLoMo - Future of Marketing
Akhilesh Joshi
 
12 Trends for 2015: What Marketers Should Be Thinking About in Digital
12 Trends for 2015: What Marketers Should Be Thinking About in Digital 12 Trends for 2015: What Marketers Should Be Thinking About in Digital
12 Trends for 2015: What Marketers Should Be Thinking About in Digital
Beyond
 
Frontier(less) Retail – Executive Summary
Frontier(less) Retail – Executive SummaryFrontier(less) Retail – Executive Summary
Frontier(less) Retail – Executive Summary
J. Walter Thompson Intelligence
 
Revisiting Marketing Mix: Study of Evidences for Investigating Innovative Rol...
Revisiting Marketing Mix: Study of Evidences for Investigating Innovative Rol...Revisiting Marketing Mix: Study of Evidences for Investigating Innovative Rol...
Revisiting Marketing Mix: Study of Evidences for Investigating Innovative Rol...
scmsnoida5
 
Brand as Publishers
Brand as Publishers Brand as Publishers
Brand as Publishers
Beyond
 
Vision Bro. Final
Vision Bro. FinalVision Bro. Final
Vision Bro. Final
Mary Anne Faneuf
 
THE ANALYSIS, DESIGN & EVALUATION OF CUSTOMER INTELLIGENCE PLATFORM THAT HEL...
THE ANALYSIS, DESIGN & EVALUATION OF CUSTOMER  INTELLIGENCE PLATFORM THAT HEL...THE ANALYSIS, DESIGN & EVALUATION OF CUSTOMER  INTELLIGENCE PLATFORM THAT HEL...
THE ANALYSIS, DESIGN & EVALUATION OF CUSTOMER INTELLIGENCE PLATFORM THAT HEL...
ellestyle
 
IBM Retail | 14 Success Stories in Retail
IBM Retail | 14 Success Stories in RetailIBM Retail | 14 Success Stories in Retail
IBM Retail | 14 Success Stories in Retail
IBM Retail
 
10 trends reshaping digital
10 trends reshaping digital10 trends reshaping digital
10 trends reshaping digital
Nils Mork-Ulnes
 
Using Technology To Improve Membership Sales & Retention
Using Technology To Improve Membership Sales & RetentionUsing Technology To Improve Membership Sales & Retention
Using Technology To Improve Membership Sales & Retention
Bryan K. O'Rourke
 
Augmented Humanity: Isobar Trends Report 2018
Augmented Humanity: Isobar Trends Report 2018Augmented Humanity: Isobar Trends Report 2018
Augmented Humanity: Isobar Trends Report 2018
Isobar
 

What's hot (20)

Age of experience - Sitel
Age of experience - SitelAge of experience - Sitel
Age of experience - Sitel
 
Leading Trends in Retail Innovation by Brian Solis
Leading Trends in Retail Innovation by Brian SolisLeading Trends in Retail Innovation by Brian Solis
Leading Trends in Retail Innovation by Brian Solis
 
State of influence 2.0 by Brian Solis and Traackr
State of influence 2.0 by Brian Solis and TraackrState of influence 2.0 by Brian Solis and Traackr
State of influence 2.0 by Brian Solis and Traackr
 
Me Data - The Rising Opportunity for Self Optimization Apps
Me Data - The Rising Opportunity for Self Optimization Apps Me Data - The Rising Opportunity for Self Optimization Apps
Me Data - The Rising Opportunity for Self Optimization Apps
 
Social Media Edmonton Case Study Jan2010
Social Media Edmonton Case Study Jan2010Social Media Edmonton Case Study Jan2010
Social Media Edmonton Case Study Jan2010
 
HCO: Human-Centred Organisations ESP
HCO: Human-Centred Organisations ESPHCO: Human-Centred Organisations ESP
HCO: Human-Centred Organisations ESP
 
Planet of the Apps - How messaging apps conquered the world
Planet of the Apps - How messaging apps conquered the worldPlanet of the Apps - How messaging apps conquered the world
Planet of the Apps - How messaging apps conquered the world
 
Fjord trends 2015: Design and Innovation
Fjord trends 2015: Design and InnovationFjord trends 2015: Design and Innovation
Fjord trends 2015: Design and Innovation
 
Dude where's my car. Product & Marketing Innovation Deep Dive
Dude where's my car. Product & Marketing Innovation Deep DiveDude where's my car. Product & Marketing Innovation Deep Dive
Dude where's my car. Product & Marketing Innovation Deep Dive
 
SoLoMo - Future of Marketing
SoLoMo - Future of MarketingSoLoMo - Future of Marketing
SoLoMo - Future of Marketing
 
12 Trends for 2015: What Marketers Should Be Thinking About in Digital
12 Trends for 2015: What Marketers Should Be Thinking About in Digital 12 Trends for 2015: What Marketers Should Be Thinking About in Digital
12 Trends for 2015: What Marketers Should Be Thinking About in Digital
 
Frontier(less) Retail – Executive Summary
Frontier(less) Retail – Executive SummaryFrontier(less) Retail – Executive Summary
Frontier(less) Retail – Executive Summary
 
Revisiting Marketing Mix: Study of Evidences for Investigating Innovative Rol...
Revisiting Marketing Mix: Study of Evidences for Investigating Innovative Rol...Revisiting Marketing Mix: Study of Evidences for Investigating Innovative Rol...
Revisiting Marketing Mix: Study of Evidences for Investigating Innovative Rol...
 
Brand as Publishers
Brand as Publishers Brand as Publishers
Brand as Publishers
 
Vision Bro. Final
Vision Bro. FinalVision Bro. Final
Vision Bro. Final
 
THE ANALYSIS, DESIGN & EVALUATION OF CUSTOMER INTELLIGENCE PLATFORM THAT HEL...
THE ANALYSIS, DESIGN & EVALUATION OF CUSTOMER  INTELLIGENCE PLATFORM THAT HEL...THE ANALYSIS, DESIGN & EVALUATION OF CUSTOMER  INTELLIGENCE PLATFORM THAT HEL...
THE ANALYSIS, DESIGN & EVALUATION OF CUSTOMER INTELLIGENCE PLATFORM THAT HEL...
 
IBM Retail | 14 Success Stories in Retail
IBM Retail | 14 Success Stories in RetailIBM Retail | 14 Success Stories in Retail
IBM Retail | 14 Success Stories in Retail
 
10 trends reshaping digital
10 trends reshaping digital10 trends reshaping digital
10 trends reshaping digital
 
Using Technology To Improve Membership Sales & Retention
Using Technology To Improve Membership Sales & RetentionUsing Technology To Improve Membership Sales & Retention
Using Technology To Improve Membership Sales & Retention
 
Augmented Humanity: Isobar Trends Report 2018
Augmented Humanity: Isobar Trends Report 2018Augmented Humanity: Isobar Trends Report 2018
Augmented Humanity: Isobar Trends Report 2018
 

Viewers also liked

Pr.k.praktika.neutraalsus ajakirjanduses
Pr.k.praktika.neutraalsus ajakirjandusesPr.k.praktika.neutraalsus ajakirjanduses
Pr.k.praktika.neutraalsus ajakirjanduses
Karola Karlson
 
ちょうかんたんワインこうざ
ちょうかんたんワインこうざちょうかんたんワインこうざ
ちょうかんたんワインこうざ
Naoki Watanabe
 
Customer service through brand integration
Customer service through brand integrationCustomer service through brand integration
Customer service through brand integration
Rosally Daniel
 
Delega o sacrificio?
Delega o sacrificio?Delega o sacrificio?
Delega o sacrificio?
Paolo Ferioli
 
English live slide show
English live slide showEnglish live slide show
English live slide show
Rosally Daniel
 
The socialite pp
The socialite ppThe socialite pp
The socialite pp
Jasmine Poolson
 
Oksitaani keel
Oksitaani keelOksitaani keel
Oksitaani keel
Karola Karlson
 
Yasser Kamel 2016f
Yasser Kamel 2016fYasser Kamel 2016f
Yasser Kamel 2016f
Yasser Kamel
 
Futurenet Multimedia-Club
Futurenet Multimedia-ClubFuturenet Multimedia-Club
Futurenet Multimedia-Club
Zintro
 
Bus 696 english live presentation-2
Bus 696   english live presentation-2Bus 696   english live presentation-2
Bus 696 english live presentation-2
Rosally Daniel
 
Glaucomaaa
GlaucomaaaGlaucomaaa
Glaucomaaa
eguer5
 
物理はどこで発見されるか
物理はどこで発見されるか物理はどこで発見されるか
物理はどこで発見されるか
Naoki Watanabe
 
English live slide show
English live slide showEnglish live slide show
English live slide show
Rosally Daniel
 
Bitcoin4beginners
Bitcoin4beginnersBitcoin4beginners
Bitcoin4beginners
Naoki Watanabe
 

Viewers also liked (19)

Pr.k.praktika.neutraalsus ajakirjanduses
Pr.k.praktika.neutraalsus ajakirjandusesPr.k.praktika.neutraalsus ajakirjanduses
Pr.k.praktika.neutraalsus ajakirjanduses
 
ちょうかんたんワインこうざ
ちょうかんたんワインこうざちょうかんたんワインこうざ
ちょうかんたんワインこうざ
 
Certificates
CertificatesCertificates
Certificates
 
Customer service through brand integration
Customer service through brand integrationCustomer service through brand integration
Customer service through brand integration
 
Delega o sacrificio?
Delega o sacrificio?Delega o sacrificio?
Delega o sacrificio?
 
English live slide show
English live slide showEnglish live slide show
English live slide show
 
Kkk
KkkKkk
Kkk
 
The socialite pp
The socialite ppThe socialite pp
The socialite pp
 
Oksitaani keel
Oksitaani keelOksitaani keel
Oksitaani keel
 
Oksitaani keel
Oksitaani keelOksitaani keel
Oksitaani keel
 
Yasser Kamel 2016f
Yasser Kamel 2016fYasser Kamel 2016f
Yasser Kamel 2016f
 
Futurenet Multimedia-Club
Futurenet Multimedia-ClubFuturenet Multimedia-Club
Futurenet Multimedia-Club
 
Bus 696 english live presentation-2
Bus 696   english live presentation-2Bus 696   english live presentation-2
Bus 696 english live presentation-2
 
Glaucomaaa
GlaucomaaaGlaucomaaa
Glaucomaaa
 
物理はどこで発見されるか
物理はどこで発見されるか物理はどこで発見されるか
物理はどこで発見されるか
 
English live slide show
English live slide showEnglish live slide show
English live slide show
 
R&b photos
R&b photosR&b photos
R&b photos
 
Certificates
CertificatesCertificates
Certificates
 
Bitcoin4beginners
Bitcoin4beginnersBitcoin4beginners
Bitcoin4beginners
 

Similar to Navigating the new wave of consumerism

Digital Marketing and "Virtual Touch" Technology
Digital Marketing and "Virtual Touch" TechnologyDigital Marketing and "Virtual Touch" Technology
Digital Marketing and "Virtual Touch" Technology
Charmian Solter
 
E-commerce - customer experience and relationship
E-commerce - customer experience and relationshipE-commerce - customer experience and relationship
E-commerce - customer experience and relationship
INFOGAIN PUBLICATION
 
being-digital-means-being-more-human-codex2089
being-digital-means-being-more-human-codex2089being-digital-means-being-more-human-codex2089
being-digital-means-being-more-human-codex2089
lwlam
 
Digital Trends for 2013 - Via Experian
Digital Trends for 2013 - Via ExperianDigital Trends for 2013 - Via Experian
Digital Trends for 2013 - Via Experian
Piyush Pankaj
 
Accenture Tech Vision 2019 (tech trends report)
Accenture Tech Vision 2019 (tech trends report)Accenture Tech Vision 2019 (tech trends report)
Accenture Tech Vision 2019 (tech trends report)
Daniele Fogliarini
 
Contextual Marketing And The New Marketing Contract
Contextual Marketing And The New Marketing ContractContextual Marketing And The New Marketing Contract
Contextual Marketing And The New Marketing Contract
Xuân Lan Nguyễn
 
Serving digital customers, empowering digital employees
Serving digital customers, empowering digital employeesServing digital customers, empowering digital employees
Serving digital customers, empowering digital employees
The Economist Media Businesses
 
Accenture-Technology-Vision-for-Pega-2014_1
Accenture-Technology-Vision-for-Pega-2014_1Accenture-Technology-Vision-for-Pega-2014_1
Accenture-Technology-Vision-for-Pega-2014_1
Simon Barnard
 
Accenture-Technology-Vision-for-Pega-2014_1
Accenture-Technology-Vision-for-Pega-2014_1Accenture-Technology-Vision-for-Pega-2014_1
Accenture-Technology-Vision-for-Pega-2014_1
Derk-Jan Brand
 
Technology Trends from Hallmark > Summer in the Sand Series for Digital Sandb...
Technology Trends from Hallmark > Summer in the Sand Series for Digital Sandb...Technology Trends from Hallmark > Summer in the Sand Series for Digital Sandb...
Technology Trends from Hallmark > Summer in the Sand Series for Digital Sandb...
DigitalSandboxKC
 
Technology Trends from Hallmark > Digital Sandbox KC's Summer in the Sand
Technology Trends from Hallmark > Digital Sandbox KC's Summer in the SandTechnology Trends from Hallmark > Digital Sandbox KC's Summer in the Sand
Technology Trends from Hallmark > Digital Sandbox KC's Summer in the Sand
kphodel
 
Mobility Toolkit: Future Framewerks
Mobility Toolkit: Future FramewerksMobility Toolkit: Future Framewerks
Mobility Toolkit: Future Framewerks
Jason Newport
 
348202121 4987-comparative-study-of-online-marketing-and-traditional-marketin...
348202121 4987-comparative-study-of-online-marketing-and-traditional-marketin...348202121 4987-comparative-study-of-online-marketing-and-traditional-marketin...
348202121 4987-comparative-study-of-online-marketing-and-traditional-marketin...
Amar Chauhan
 
Australian Digital Commerce & "The Relational Gap"
Australian Digital Commerce & "The Relational Gap"Australian Digital Commerce & "The Relational Gap"
Australian Digital Commerce & "The Relational Gap"
Ben Gilchriest
 
An Executive's Guide to Reimagining the Enterprise in the Digital Age
An Executive's Guide to Reimagining the Enterprise in the Digital AgeAn Executive's Guide to Reimagining the Enterprise in the Digital Age
An Executive's Guide to Reimagining the Enterprise in the Digital Age
Armanino LLP
 
Smarter Commerce: Transforming for a Customer Centric World
Smarter Commerce: Transforming for a Customer Centric WorldSmarter Commerce: Transforming for a Customer Centric World
Smarter Commerce: Transforming for a Customer Centric World
InternetEvolution
 
Social, mobile & the cloud web
Social, mobile & the cloud webSocial, mobile & the cloud web
Social, mobile & the cloud web
Regalix
 
Event_FST Sydney RT_Transcript FINAL_Q4 14
Event_FST Sydney RT_Transcript FINAL_Q4 14Event_FST Sydney RT_Transcript FINAL_Q4 14
Event_FST Sydney RT_Transcript FINAL_Q4 14
Scott Leader
 
89% of consumers switch to a competitor after a poor CX
89% of consumers switch to a competitor after a poor CX 89% of consumers switch to a competitor after a poor CX
89% of consumers switch to a competitor after a poor CX
Abhishek Sood
 
Who Cares?! Transforming the Connection With Customers
Who Cares?! Transforming the Connection With CustomersWho Cares?! Transforming the Connection With Customers
Who Cares?! Transforming the Connection With Customers
Ken Yeung
 

Similar to Navigating the new wave of consumerism (20)

Digital Marketing and "Virtual Touch" Technology
Digital Marketing and "Virtual Touch" TechnologyDigital Marketing and "Virtual Touch" Technology
Digital Marketing and "Virtual Touch" Technology
 
E-commerce - customer experience and relationship
E-commerce - customer experience and relationshipE-commerce - customer experience and relationship
E-commerce - customer experience and relationship
 
being-digital-means-being-more-human-codex2089
being-digital-means-being-more-human-codex2089being-digital-means-being-more-human-codex2089
being-digital-means-being-more-human-codex2089
 
Digital Trends for 2013 - Via Experian
Digital Trends for 2013 - Via ExperianDigital Trends for 2013 - Via Experian
Digital Trends for 2013 - Via Experian
 
Accenture Tech Vision 2019 (tech trends report)
Accenture Tech Vision 2019 (tech trends report)Accenture Tech Vision 2019 (tech trends report)
Accenture Tech Vision 2019 (tech trends report)
 
Contextual Marketing And The New Marketing Contract
Contextual Marketing And The New Marketing ContractContextual Marketing And The New Marketing Contract
Contextual Marketing And The New Marketing Contract
 
Serving digital customers, empowering digital employees
Serving digital customers, empowering digital employeesServing digital customers, empowering digital employees
Serving digital customers, empowering digital employees
 
Accenture-Technology-Vision-for-Pega-2014_1
Accenture-Technology-Vision-for-Pega-2014_1Accenture-Technology-Vision-for-Pega-2014_1
Accenture-Technology-Vision-for-Pega-2014_1
 
Accenture-Technology-Vision-for-Pega-2014_1
Accenture-Technology-Vision-for-Pega-2014_1Accenture-Technology-Vision-for-Pega-2014_1
Accenture-Technology-Vision-for-Pega-2014_1
 
Technology Trends from Hallmark > Summer in the Sand Series for Digital Sandb...
Technology Trends from Hallmark > Summer in the Sand Series for Digital Sandb...Technology Trends from Hallmark > Summer in the Sand Series for Digital Sandb...
Technology Trends from Hallmark > Summer in the Sand Series for Digital Sandb...
 
Technology Trends from Hallmark > Digital Sandbox KC's Summer in the Sand
Technology Trends from Hallmark > Digital Sandbox KC's Summer in the SandTechnology Trends from Hallmark > Digital Sandbox KC's Summer in the Sand
Technology Trends from Hallmark > Digital Sandbox KC's Summer in the Sand
 
Mobility Toolkit: Future Framewerks
Mobility Toolkit: Future FramewerksMobility Toolkit: Future Framewerks
Mobility Toolkit: Future Framewerks
 
348202121 4987-comparative-study-of-online-marketing-and-traditional-marketin...
348202121 4987-comparative-study-of-online-marketing-and-traditional-marketin...348202121 4987-comparative-study-of-online-marketing-and-traditional-marketin...
348202121 4987-comparative-study-of-online-marketing-and-traditional-marketin...
 
Australian Digital Commerce & "The Relational Gap"
Australian Digital Commerce & "The Relational Gap"Australian Digital Commerce & "The Relational Gap"
Australian Digital Commerce & "The Relational Gap"
 
An Executive's Guide to Reimagining the Enterprise in the Digital Age
An Executive's Guide to Reimagining the Enterprise in the Digital AgeAn Executive's Guide to Reimagining the Enterprise in the Digital Age
An Executive's Guide to Reimagining the Enterprise in the Digital Age
 
Smarter Commerce: Transforming for a Customer Centric World
Smarter Commerce: Transforming for a Customer Centric WorldSmarter Commerce: Transforming for a Customer Centric World
Smarter Commerce: Transforming for a Customer Centric World
 
Social, mobile & the cloud web
Social, mobile & the cloud webSocial, mobile & the cloud web
Social, mobile & the cloud web
 
Event_FST Sydney RT_Transcript FINAL_Q4 14
Event_FST Sydney RT_Transcript FINAL_Q4 14Event_FST Sydney RT_Transcript FINAL_Q4 14
Event_FST Sydney RT_Transcript FINAL_Q4 14
 
89% of consumers switch to a competitor after a poor CX
89% of consumers switch to a competitor after a poor CX 89% of consumers switch to a competitor after a poor CX
89% of consumers switch to a competitor after a poor CX
 
Who Cares?! Transforming the Connection With Customers
Who Cares?! Transforming the Connection With CustomersWho Cares?! Transforming the Connection With Customers
Who Cares?! Transforming the Connection With Customers
 

Navigating the new wave of consumerism

  • 1. Navigating the New Wave of Consumerism The New Reality By Rosally Daniel
  • 2. We are in a new era where innovative, disruptive and collaborative forces in technology have converged to re-shape our behaviors and expectations. No one can ride the new wave of consumerism alone. Our physical and our digital world have converged, and there is no turning back. It requires a new way of thinking and looking at both worlds as one. Understanding the new reality is the key to unlocking the door to happiness and profitability.
  • 3. E-commerce  E-commerce refers to the use of the Internet and the Web to transact business. More formally, e-commerce is about digitally enabled commercial transactions between and among organizations and individuals. (Laudon & Laudon)  From about 2006 to the present, e-commerce reinvented itself. It involved the extension of Internet technologies, and the discovery of new business models based on consumer- generated content and social networks. (Laudon & Traver)
  • 4. M-Commerce “ Mobile Commerce is the use of information technologies and communication technologies for the purpose of mobile integration of different value chains and business processes, and for the purpose of management of business relationships.” (Webagency 2001) _________________________________________________ Oliver Recklies,in 2001, saw two possible directions for M- Commerce: • the next hype or • a natural evolution from E-commerce into a digital and mobile world.
  • 5. The New Mobility  Enterprise mobility refers to the integration of personal and professional information using mobile devices (Gartner Inc., 2012).  Enterprise mobility fundamentally changed the way people work. In order to remain competitive, organizations needs to make enterprise applications accessible through mobile devices. (www.itstrategists.com)  This convergence of personal and professional information blurred the barrier between physical and digital, personal and professional and evolved to a new wave of consumerism in which the customer expects a seamless integration of their experiences.
  • 6. What is the Omni-channel?  “Omnichannel is the mix of all physical and digital channels to create an innovative and unified customer experience.” (Seadly, D., 2012)  As technology continues to evolve and change customers’ behavior and expectations, it’s becoming more and more important for companies, especially retailers, to be able to connect with their customers through all channels. At the end, the customer will decide at which channel they will interact with a brand, depending on the time and place. And with today’s tech savvy customers, it can be a choice of at least two or three channels that are readily available to them.
  • 7. The New Wave of Consumerism  Consumerization refers to the democratization of information through easier access to technology which has brought about the democratization of consumer power “  The new trends in consumerization is fueling the shift from “consumer” to “customer”, as the new breed of superconsumer emerged – the “ubersumer”  The “ubersumer” uses the machinery of Internet technology to self design and consume unique experiences.  Today’s customers are tech savvy, impatient and disloyal. (Burt, M., Gartner Inc. 2011)
  • 8. Digitization + Social  The ubiquity of the Internet and mobile devices are the main catalysts for the changing consumer expectations.  Online consumers have embraced social networks and online communities. They use technology to shape their own customized shopping experience (Burt, M., Gartner 2013).  Socially connected customers can spread the word of a shopping experience- good or bad – to a network of millions (Burt, M., Gartner Inc. 2011)  Customer engagement in stores could make or break an omni channel experience. Stores will remain to be important as customers still prefer to have that interaction in the physical world to complete their transaction.
  • 9. The Evolution of the Social Customer  The social customers are hyper connected individuals who regularly broadcast their opinions over Twitter, Facebook, blog posts and in online communities.  They expect to engage in real time interactions with each other and with companies on social media outlets.  This new breed of customers evolved as the result of the ubiquity of the Internet, the Web and mobile technologies.  Are mostly women who requires greater accessibility, personalization and community connections to support their multiple roles, preferences and lifestyles. (WIPRO)
  • 10. Digital Integration: Omni Channel  “Meet the customer anywhere” is driven by growing consumer expectations for a seamless service experience between all channels.  Consumers are more willing to share information especially if they know they will benefit from it. It helps businesses provide better treatment, more relevant content, improved suggestions, recommendations and more valuable promotions. (MCommerce 2012)  Improvements in technology should be matched by shifting the company culture as well. Technology alone cannot drive a successful omni channel business – it’s time to go back to basics. In store customer service will be the key differentiator.
  • 11. A New Era: Understanding & Designing a New Business Model In September 2011, Deloitte 39 retail executives to understand how they are adapting to a next generation format. Highlights of their study are: • A call to retailers to reconfigure talent, physical space and store operations to meet or exceed customer expectations. • By incorporating social media and ecommerce into their stores • Hire or train sales associates to meet the demands of an increasingly tech savvy customer • In addition to technology, to make service quality a focus as this will distinguish good to great companies from their competitors. (The New Evolution: Store 3.0, 2012)
  • 12. Understanding the New Reality  The new business reality is social and very customer- centric.  Managers and associates, especially in stores have to be savvy working in this new era of social business. Training and understanding the new service environment is crucial.  Companies needs to review their business practices and integrate their infrastructure to be able to deliver a seamless service experience for the customer.  Omni channel is just not about technology – it’s about connecting with people in all channels, simultaneously.
  • 13. Leadership Challenges  How to integrate the enterprise by developing cross functional teams and filling in leadership vacuums.  Finding the right managers who have the experience and innovative thinking while at the same time agile to keep up with the digital pace.  How to enable associates to move between physical and digital by updating the company’s systems infrastructure and associate training into the new reality.  How to transform existing business practices into one with social business components.  How to break down departmental silos and change the company’s culture and organizational structure.
  • 14. Working in Retail after 3.0  Be proactive – learn new skills.  You don’t have to be a techie – good old fashioned customer service skills are better than knowing the latest gadgets.  Know your company’s digital brand image. Check your company’s website and identify at least two social media outlets where you can follow your company.  You don’t have to have a digital presence. However, chances are your customers do. Check out the Twitter or LinkedIn profiles of your best clients. Find out what they’re upto but keep it positive. People will be flattered if you take the time to do your homework.  If you do have a digital presence, just remember that everyone can see it. That’s where you get the best exposure – leverage it!  Good old fashioned networking will always earn you points. In today’s world, you can do this online as well as in person. If you can do both, even better.
  • 15. It’s all about connections. We are in this journey together!