The document discusses strategies for engaging Indonesia's emerging middle class consumers. It notes that Indonesia's GDP per capita has exceeded $3,600 and around 50 million people have entered the middle income bracket in recent years. The middle class spends significant amounts at mini-marts and supermarkets and values convenience and innovation. Companies like 7-Eleven have successfully tapped into middle class social habits by providing free WiFi and hosting events. Both online and offline marketing approaches will be needed to reach Indonesia's diverse middle class consumers, including digital, TV, and in-store promotions emphasizing value, convenience, and social engagement.
Frontier(less) Retail—an Innovation Group report created in partnership with WWD, the leading fashion, beauty and retail authority—reveals a retail landscape that has become borderless, blurred and amorphous.
Consumer expectations are becoming limitless—whether it’s instant delivery, intuitive commerce or compelling store experiences. Interfaces for retail are moving beyond the smartphone into our home environments, and the digital and physical worlds are blurring in new ways.
2014 Digital-Inspired Trends in the Financial Services Industry: Banks, Card ...Carmelon Digital Marketing
The financial services industry is utilizing new technologies and channels, in order to become more efficient, more reliant, more convenient and above all – simpler. Among such new channels are internet websites, social media platforms, smartphone / tablet apps and others. Banks, credit card companies and insurance companies are using those digital channels along the entire service chain, including sales & marketing, communications, consumer service and CRM.
In 2019, financial institutions are getting more and more comfortable with digital technologies, digitizing processes, embracing big data and AI, and adopting new delivery methods beyond mobile to satisfy customer demand.
Although many of these technologies are not new, they dominate how the financial sector operates and grows in 2019. Add them to an already existing suite of platforms and technologies that either evolve or are replaced with new, more sophisticated solutions based on AI and machine learning. Beyond tech, all the trends of the year are customer-centric – the use of AI and chatbots, e-wallets, big data, and open banking are all meant to improve and personalize services to satisfy customer demands and expectations. As technologies continue to evolve, the trends of the year will replace outdated strategies and eventually lead to even more progressive solutions for the modern consumer
Future of retail global trends summary nov 2020Future Agenda
This is an updated summary of 60 global trends that may impact the world of retail over the next decade. Multiple expert discussions across Asia, Europe, MENA and North America have developed and shared these insights that have been curated into ten key shifts.
As we finalise the future views before wider public sharing, we very much welcome your feedback on these and which may have greatest future impact.
douglas.jones@futureagenda.org
@futureagenda
Software is having an impact on everyone’s lives and we’re fascinated by its effect on user behavior. Building on our existing financial sector expertise, Beyond wanted to fully understand how people’s behavior is changing in one of the world’s oldest industries and what this change means for the future design of products and services in banking.
Digital Trends in the Financial Services IndustryKL Daly
Reviewing trends in the financial services, this presentation looks at how brand repositioning, digital optimization, digital analysis and customer relationships can be used to help the financial services industry overcome disruption and set themselves up for success in the future.
How fintechs can profit from the female economy finalChesca Garcia
From the Financial Alliance from Women:
This report is based on research with 168 fintechs and 30 investors and other
ecosystem actors from 43 countries. We would like to thank the research respondents
for their time in openly sharing and contributing to the survey.
The Financial Alliance would like to acknowledge Syed Musheer Ahmed and Yosha
Gupta from Finstep Asia, who conducted the research and provided sectoral insights
and the Alliance team who worked on this study: Inez Murray, Karyl Akilian, Rebecca
Ruf, Carine Fersan and Tessa Ruben. We also acknowledge Luba Vangelova, Olivia
LaBarre, and Ernie Agtarap for their role in the production of this report.
Frontier(less) Retail—an Innovation Group report created in partnership with WWD, the leading fashion, beauty and retail authority—reveals a retail landscape that has become borderless, blurred and amorphous.
Consumer expectations are becoming limitless—whether it’s instant delivery, intuitive commerce or compelling store experiences. Interfaces for retail are moving beyond the smartphone into our home environments, and the digital and physical worlds are blurring in new ways.
2014 Digital-Inspired Trends in the Financial Services Industry: Banks, Card ...Carmelon Digital Marketing
The financial services industry is utilizing new technologies and channels, in order to become more efficient, more reliant, more convenient and above all – simpler. Among such new channels are internet websites, social media platforms, smartphone / tablet apps and others. Banks, credit card companies and insurance companies are using those digital channels along the entire service chain, including sales & marketing, communications, consumer service and CRM.
In 2019, financial institutions are getting more and more comfortable with digital technologies, digitizing processes, embracing big data and AI, and adopting new delivery methods beyond mobile to satisfy customer demand.
Although many of these technologies are not new, they dominate how the financial sector operates and grows in 2019. Add them to an already existing suite of platforms and technologies that either evolve or are replaced with new, more sophisticated solutions based on AI and machine learning. Beyond tech, all the trends of the year are customer-centric – the use of AI and chatbots, e-wallets, big data, and open banking are all meant to improve and personalize services to satisfy customer demands and expectations. As technologies continue to evolve, the trends of the year will replace outdated strategies and eventually lead to even more progressive solutions for the modern consumer
Future of retail global trends summary nov 2020Future Agenda
This is an updated summary of 60 global trends that may impact the world of retail over the next decade. Multiple expert discussions across Asia, Europe, MENA and North America have developed and shared these insights that have been curated into ten key shifts.
As we finalise the future views before wider public sharing, we very much welcome your feedback on these and which may have greatest future impact.
douglas.jones@futureagenda.org
@futureagenda
Software is having an impact on everyone’s lives and we’re fascinated by its effect on user behavior. Building on our existing financial sector expertise, Beyond wanted to fully understand how people’s behavior is changing in one of the world’s oldest industries and what this change means for the future design of products and services in banking.
Digital Trends in the Financial Services IndustryKL Daly
Reviewing trends in the financial services, this presentation looks at how brand repositioning, digital optimization, digital analysis and customer relationships can be used to help the financial services industry overcome disruption and set themselves up for success in the future.
How fintechs can profit from the female economy finalChesca Garcia
From the Financial Alliance from Women:
This report is based on research with 168 fintechs and 30 investors and other
ecosystem actors from 43 countries. We would like to thank the research respondents
for their time in openly sharing and contributing to the survey.
The Financial Alliance would like to acknowledge Syed Musheer Ahmed and Yosha
Gupta from Finstep Asia, who conducted the research and provided sectoral insights
and the Alliance team who worked on this study: Inez Murray, Karyl Akilian, Rebecca
Ruf, Carine Fersan and Tessa Ruben. We also acknowledge Luba Vangelova, Olivia
LaBarre, and Ernie Agtarap for their role in the production of this report.
Leading Trends in Retail Innovation by Brian SolisBrian Solis
Leading digital analyst, anthropologist and keynote speaker Brian Solis shares insights from his research into the most progressive retailers changing the innovation game.
Work with Brian on research, advisory/strategy or have him speak at your event or with your executives. brian@briansolis.com - www.briansolis.com
To understand the state of retail innovation, Brian interviewed 12 top retail executives at some of the industry’s most-recognized brands. He set out to learn how leading retailers are responding to digital disruptions — and staying ahead of them. We also aimed to uncover the challenges they face and the strategies that are making an impact.
His interviews and third-party research showed that retailers engage in these five strategies:
Constantly map the customer journey to create smooth cross-channel customer experiences.
Engage in deep consumer research.
Prioritize innovations that target the connected consumer.
Invest in formal innovation programs.
Cultivate the necessary digital skills across the organization.
The insights from some of the most successful retailers can offer guidance on how to stave off disruption and keep pace with an evolving retail landscape.
To understand the state of retail innovation, we interviewed 12 top retail executives at some of the industry’s most-recognized brands. We set out to learn how leading retailers are responding to digital disruptions — and staying ahead of them. We also aimed to uncover the challenges they face and the strategies that are making an impact.
Our interviews and third-party research showed that retailers engage in these five strategies:
Constantly map the customer journey to create smooth cross-channel customer experiences.
Engage in deep consumer research.
Prioritize innovations that target the connected consumer.
Invest in formal innovation programs.
Cultivate the necessary digital skills across the organization.
The insights from some of the most successful retailers can offer guidance on how to stave off disruption and keep pace with an evolving retail landscape.
You are your content - Being here, now: State of content 2017Accenture Insurance
Our relationship to content has been transformed. So many aspects of our lives, big and small, are lived online. From education to recreation, one is hard-pressed to identify aspects of modern life not changed by digital content. This second annual study from Accenture Interactive surveyed over 1,000 executives from 14 countries and 18 industries to understand this shifting paradigm, and to help organizations respond.
Content must be a vital expression of an organizations purpose, and true to its lifeblood. Content is how the organization expresses itself. In this hyper-connected age, You are Your Content, it is the voice of your organization. And so, it is no surprise that organizations are beginning to want to own that voice, building new in-house capabilities, innovating in distribution channels, focusing on quality, and establishing stewardship at the most senior levels of the organization in order to be everywhere for their audiences.
Taking friction out of banking white paper - UKNils Mork-Ulnes
In our white paper, ‘Taking the friction out of banking’ we research the threat from disruptive FinTech start-ups and look into designing for banking innovation with a focus on improving the digital experience for increasingly digitally-focused consumers.
To remain competitive in today's real-time world, retailers need to more effectively read and respond to consumers' digital fingerprints, or Code Halos, to anticipate their preferences and needs and delivery contextually-relevant, timely and inspiring shopping experiences.
Taking friction out of banking white paper - USNils Mork-Ulnes
In our white paper, ‘Taking the friction out of banking’ we research the threat from disruptive FinTech start-ups and look into designing for banking innovation with a focus on improving the digital experience for increasingly digitally-focused consumers.
Software is having an impact on everyone’s lives and we’re fascinated by its effect on user behavior. Building on our existing financial sector expertise, Beyond wanted to fully understand how people’s behavior is changing in one of the world’s oldest industries and what this change means for the future design of products and services in banking.
A “Mobile First” strategy is more important than ever. It requires more than merely transferring a general e-commerce experience into a mobile format as it is more instant and local, and it enables leveraging of the mobile device’s features, such as the camera. Proximity, personalization and loyalty are the three key themes for mobile in 2018.
Disruptors are ushering in the future. From disruption comes the new.
Change can happen in the blink of an eye. But not always. The strength and nature of disruption is defined by the value it releases and it is often predictable. It can be anticipated, met, controlled, and even courted.
To learn more, visit https://www.accenture.com/us-en/insight-harness-power-of-disruption
Ascent – Thought leadership from Atos Promises of a converging worldAscent Atos
A magazine into the future of our ever-more connected planet
This new Ascent magazine is the latest edition of the ascent thought leadership program from Atos and sets out how the years ahead will see era-defining change in the global technology landscape, further impacting the way we all connect, live and do business.
This magazine includes articles and views from business leaders, academia and the Atos Scientific Community. Each of the stories in this magazine can tell us something about the world that awaits us all.
The high rate of technology penetration is affecting the state of financial services:
• Collaboration economy – driven by social media
• On the go behavior – driven by intensive lifestyles and the rise of mobile technology
• Convenience seeking – driven by connectivity (“the internet of things” and wearable technology)
Time spent on social networking by internet users worldwide is on the rise, causing more sharing and peer to peer behaviors resulting in the “collaboration economy”.
Global Mobile penetration continues to rise, giving birth to more on the go/ mobile financial solutions. Rising penetration of Wearable Technology offers opportunities for companies.
In the EU, online banking adoption rates are 49% in the EU, and in other countries, USA included, penetration surpassed 50%.
We expect Mobile financial services to grow at an accelerated rate, due to the increase in solutions offered through mobile devices as well as younger demographics demand for ultra-convenient solutions. According to the Federal Reserve, in the USA, use of mobile banking continues to rise but is yet to reach the rates of online banking: 43% of all mobile phone owners, and 53% of all smartphone owners with a bank account, had used mobile banking in the 12 months prior to the survey, compared to 71% who used online banking on a desktop, laptop or tablet computer in the same period.
UX Design for Mobile Payment ExperiencesSkip Allums
O'Reilly Webcast: Oct 14, 2014
With mobile devices emerging as new tools for transactions and identification, designers face challenging interactions and user expectations from payment scenarios. Consumers expect mobile payment experiences to be frictionless and familiar, while faithfully protecting their financial data. Falling short on any of these aspects will cause users to drop out, or worse, compromise their financial privacy. In this webcast, we'll look at ten emerging UX design best practices for mobile payment interactions.
References:
Apps mentioned:
http://www.paywithisis.com
http://www.squareup.com
https://www.google.com/wallet/
https://www.venmo.com
http://www.thelevelup.com
http://www.capitalone.com/online-banking/mobile/wallet/
https://www.lyft.com/
https://www.groupon.com
https://www.uber.com/
https://www.coinbase.com/
https://www.simple.com/
https://www.paypal.com/
https://www.apple.com/iphone-6/apple-pay/
http://www.starbucks.com/coffeehouse/mobile-apps/mystarbucks
Merchant Category codes
http://www.irs.gov/irb/2004-31_IRB/ar17.html#d0e1647
PCI DSS Compliance
https://www.pcisecuritystandards.org/security_standards/documents.php?document=pci_dss_v2-0#pci_dss_v2-0
The following presentation examines trends and best practices in Self Service, with respect to consumer trends, company strategies, tools and best practices in various industries.
We have reviewed the following types of Self Services:
Unassisted Self Service - where a customer can complete a transaction / receive the support he/she needs without requiring a human agent’s assistance at all. For example: online booking and ordering, online fund transferring, etc.
Assisted Self Service - where the customer can access the service at his/her own terms, but does require a human agent on the other side, for example: video tellers / conference calls, live chats with a live agent, email / SMS to an agent, etc.
The global market for self service is experiencing growth, and research companies predict it will keep growing in the next few years. The main reason for growth is that self service can benefit both customers and companies.
Companies that deliver online self service are able to minimize costs (as long as service is provided efficiently) and benefit from increased customer satisfaction, customer loyalty, lifetime value and advocacy.
in terms of customer satisfaction, there is a clear preference for digital and multi-channel service. However, poor self service can cause the customer to abandon the channel. For organizations, self- service saves costs as long as the service is provided correctly and the information is synchronized between the different channels. Today, customer satisfaction is still very high when a live representative is involved, but our assessment is that in the near future, the picture may change following the entry of innovative tools that enhance the service experience significantly. We expect robots (or “bots”) to become the next preferred channel for self service, with the accumulation of data, which enables a better automatic service than ever before.
Banking & Innovation: How Financial Services Can Embrace the Customer RevolutionComrade
Financial services companies are increasingly seeing opportunities to be at the forefront of innovation. Historically, banks have been slow to translate consumer demands into technologies like paperless statements and mobile check imaging. However, they were quick to implement online banking and, today, customers who bank online are typically more satisfied as well as more cost-effective to maintain. Banks have also responded to the shift in consumer demand for mobile banking on tablets and smartphones. The next challenge facing financial services is how to address the rise of consumer trends evolving mainly outside of the industry. We’re pleased to have partnered with Matchi to publish “Banking & Innovation: How Financial Services Can Embrace the Customer Revolution." This paper focuses on three phenomena that will ultimately impact every bank:
- Crowdsourcing
- Wearable Technology
- The Sharing Economy
We explore the state of each these trends, and how they relate to financial services.
A global study into 16 to 25 year olds and everyday banking looking at how banks can stay relevant for young people in the face of disruption in the financial services industry.
Future of retail - Five key future trends - 9 Dec 2020Future Agenda
Future of Retail – Five Key Trends
The pandemic has accelerated change across many sectors – and especially retail. More online, less physical and empty malls have been evident globally. So what about the next ten years? What changes will continue to accelerate, which will rebalance, and which new ones will emerge?
Based on extensive dialogue with retail, tech and city leaders globally, this new point of view brings together the major shifts in the mix collated under five key trends – Reemphasis on the Local, Identity Insights, Automated Retail, Continuous Interaction and Informed Consumers.
Now being used to stimulate new thinking, innovation and strategy development in multiple projects around the world, this is being shared to continue dialogue on changes and impact.
We welcome your views @futureagenda
This deck shows how customer (self-)service can be re-imagined through messaging/texting, and how context continuity can be maintained atop of the explosion of available customer care channels.
Future of trade - Insights from Discussions to date building on an initial pe...Future Agenda
The initial perspective on the future of trade by Gautam Sashittal, CEO of DMCC kicked off the Future Agenda 2.0 global discussions taking place through 2015. This summary builds on the initial view and is updated as we progress the futureagenda2.0 programme. www.futureagenda.org
Leading Trends in Retail Innovation by Brian SolisBrian Solis
Leading digital analyst, anthropologist and keynote speaker Brian Solis shares insights from his research into the most progressive retailers changing the innovation game.
Work with Brian on research, advisory/strategy or have him speak at your event or with your executives. brian@briansolis.com - www.briansolis.com
To understand the state of retail innovation, Brian interviewed 12 top retail executives at some of the industry’s most-recognized brands. He set out to learn how leading retailers are responding to digital disruptions — and staying ahead of them. We also aimed to uncover the challenges they face and the strategies that are making an impact.
His interviews and third-party research showed that retailers engage in these five strategies:
Constantly map the customer journey to create smooth cross-channel customer experiences.
Engage in deep consumer research.
Prioritize innovations that target the connected consumer.
Invest in formal innovation programs.
Cultivate the necessary digital skills across the organization.
The insights from some of the most successful retailers can offer guidance on how to stave off disruption and keep pace with an evolving retail landscape.
To understand the state of retail innovation, we interviewed 12 top retail executives at some of the industry’s most-recognized brands. We set out to learn how leading retailers are responding to digital disruptions — and staying ahead of them. We also aimed to uncover the challenges they face and the strategies that are making an impact.
Our interviews and third-party research showed that retailers engage in these five strategies:
Constantly map the customer journey to create smooth cross-channel customer experiences.
Engage in deep consumer research.
Prioritize innovations that target the connected consumer.
Invest in formal innovation programs.
Cultivate the necessary digital skills across the organization.
The insights from some of the most successful retailers can offer guidance on how to stave off disruption and keep pace with an evolving retail landscape.
You are your content - Being here, now: State of content 2017Accenture Insurance
Our relationship to content has been transformed. So many aspects of our lives, big and small, are lived online. From education to recreation, one is hard-pressed to identify aspects of modern life not changed by digital content. This second annual study from Accenture Interactive surveyed over 1,000 executives from 14 countries and 18 industries to understand this shifting paradigm, and to help organizations respond.
Content must be a vital expression of an organizations purpose, and true to its lifeblood. Content is how the organization expresses itself. In this hyper-connected age, You are Your Content, it is the voice of your organization. And so, it is no surprise that organizations are beginning to want to own that voice, building new in-house capabilities, innovating in distribution channels, focusing on quality, and establishing stewardship at the most senior levels of the organization in order to be everywhere for their audiences.
Taking friction out of banking white paper - UKNils Mork-Ulnes
In our white paper, ‘Taking the friction out of banking’ we research the threat from disruptive FinTech start-ups and look into designing for banking innovation with a focus on improving the digital experience for increasingly digitally-focused consumers.
To remain competitive in today's real-time world, retailers need to more effectively read and respond to consumers' digital fingerprints, or Code Halos, to anticipate their preferences and needs and delivery contextually-relevant, timely and inspiring shopping experiences.
Taking friction out of banking white paper - USNils Mork-Ulnes
In our white paper, ‘Taking the friction out of banking’ we research the threat from disruptive FinTech start-ups and look into designing for banking innovation with a focus on improving the digital experience for increasingly digitally-focused consumers.
Software is having an impact on everyone’s lives and we’re fascinated by its effect on user behavior. Building on our existing financial sector expertise, Beyond wanted to fully understand how people’s behavior is changing in one of the world’s oldest industries and what this change means for the future design of products and services in banking.
A “Mobile First” strategy is more important than ever. It requires more than merely transferring a general e-commerce experience into a mobile format as it is more instant and local, and it enables leveraging of the mobile device’s features, such as the camera. Proximity, personalization and loyalty are the three key themes for mobile in 2018.
Disruptors are ushering in the future. From disruption comes the new.
Change can happen in the blink of an eye. But not always. The strength and nature of disruption is defined by the value it releases and it is often predictable. It can be anticipated, met, controlled, and even courted.
To learn more, visit https://www.accenture.com/us-en/insight-harness-power-of-disruption
Ascent – Thought leadership from Atos Promises of a converging worldAscent Atos
A magazine into the future of our ever-more connected planet
This new Ascent magazine is the latest edition of the ascent thought leadership program from Atos and sets out how the years ahead will see era-defining change in the global technology landscape, further impacting the way we all connect, live and do business.
This magazine includes articles and views from business leaders, academia and the Atos Scientific Community. Each of the stories in this magazine can tell us something about the world that awaits us all.
The high rate of technology penetration is affecting the state of financial services:
• Collaboration economy – driven by social media
• On the go behavior – driven by intensive lifestyles and the rise of mobile technology
• Convenience seeking – driven by connectivity (“the internet of things” and wearable technology)
Time spent on social networking by internet users worldwide is on the rise, causing more sharing and peer to peer behaviors resulting in the “collaboration economy”.
Global Mobile penetration continues to rise, giving birth to more on the go/ mobile financial solutions. Rising penetration of Wearable Technology offers opportunities for companies.
In the EU, online banking adoption rates are 49% in the EU, and in other countries, USA included, penetration surpassed 50%.
We expect Mobile financial services to grow at an accelerated rate, due to the increase in solutions offered through mobile devices as well as younger demographics demand for ultra-convenient solutions. According to the Federal Reserve, in the USA, use of mobile banking continues to rise but is yet to reach the rates of online banking: 43% of all mobile phone owners, and 53% of all smartphone owners with a bank account, had used mobile banking in the 12 months prior to the survey, compared to 71% who used online banking on a desktop, laptop or tablet computer in the same period.
UX Design for Mobile Payment ExperiencesSkip Allums
O'Reilly Webcast: Oct 14, 2014
With mobile devices emerging as new tools for transactions and identification, designers face challenging interactions and user expectations from payment scenarios. Consumers expect mobile payment experiences to be frictionless and familiar, while faithfully protecting their financial data. Falling short on any of these aspects will cause users to drop out, or worse, compromise their financial privacy. In this webcast, we'll look at ten emerging UX design best practices for mobile payment interactions.
References:
Apps mentioned:
http://www.paywithisis.com
http://www.squareup.com
https://www.google.com/wallet/
https://www.venmo.com
http://www.thelevelup.com
http://www.capitalone.com/online-banking/mobile/wallet/
https://www.lyft.com/
https://www.groupon.com
https://www.uber.com/
https://www.coinbase.com/
https://www.simple.com/
https://www.paypal.com/
https://www.apple.com/iphone-6/apple-pay/
http://www.starbucks.com/coffeehouse/mobile-apps/mystarbucks
Merchant Category codes
http://www.irs.gov/irb/2004-31_IRB/ar17.html#d0e1647
PCI DSS Compliance
https://www.pcisecuritystandards.org/security_standards/documents.php?document=pci_dss_v2-0#pci_dss_v2-0
The following presentation examines trends and best practices in Self Service, with respect to consumer trends, company strategies, tools and best practices in various industries.
We have reviewed the following types of Self Services:
Unassisted Self Service - where a customer can complete a transaction / receive the support he/she needs without requiring a human agent’s assistance at all. For example: online booking and ordering, online fund transferring, etc.
Assisted Self Service - where the customer can access the service at his/her own terms, but does require a human agent on the other side, for example: video tellers / conference calls, live chats with a live agent, email / SMS to an agent, etc.
The global market for self service is experiencing growth, and research companies predict it will keep growing in the next few years. The main reason for growth is that self service can benefit both customers and companies.
Companies that deliver online self service are able to minimize costs (as long as service is provided efficiently) and benefit from increased customer satisfaction, customer loyalty, lifetime value and advocacy.
in terms of customer satisfaction, there is a clear preference for digital and multi-channel service. However, poor self service can cause the customer to abandon the channel. For organizations, self- service saves costs as long as the service is provided correctly and the information is synchronized between the different channels. Today, customer satisfaction is still very high when a live representative is involved, but our assessment is that in the near future, the picture may change following the entry of innovative tools that enhance the service experience significantly. We expect robots (or “bots”) to become the next preferred channel for self service, with the accumulation of data, which enables a better automatic service than ever before.
Banking & Innovation: How Financial Services Can Embrace the Customer RevolutionComrade
Financial services companies are increasingly seeing opportunities to be at the forefront of innovation. Historically, banks have been slow to translate consumer demands into technologies like paperless statements and mobile check imaging. However, they were quick to implement online banking and, today, customers who bank online are typically more satisfied as well as more cost-effective to maintain. Banks have also responded to the shift in consumer demand for mobile banking on tablets and smartphones. The next challenge facing financial services is how to address the rise of consumer trends evolving mainly outside of the industry. We’re pleased to have partnered with Matchi to publish “Banking & Innovation: How Financial Services Can Embrace the Customer Revolution." This paper focuses on three phenomena that will ultimately impact every bank:
- Crowdsourcing
- Wearable Technology
- The Sharing Economy
We explore the state of each these trends, and how they relate to financial services.
A global study into 16 to 25 year olds and everyday banking looking at how banks can stay relevant for young people in the face of disruption in the financial services industry.
Future of retail - Five key future trends - 9 Dec 2020Future Agenda
Future of Retail – Five Key Trends
The pandemic has accelerated change across many sectors – and especially retail. More online, less physical and empty malls have been evident globally. So what about the next ten years? What changes will continue to accelerate, which will rebalance, and which new ones will emerge?
Based on extensive dialogue with retail, tech and city leaders globally, this new point of view brings together the major shifts in the mix collated under five key trends – Reemphasis on the Local, Identity Insights, Automated Retail, Continuous Interaction and Informed Consumers.
Now being used to stimulate new thinking, innovation and strategy development in multiple projects around the world, this is being shared to continue dialogue on changes and impact.
We welcome your views @futureagenda
This deck shows how customer (self-)service can be re-imagined through messaging/texting, and how context continuity can be maintained atop of the explosion of available customer care channels.
Future of trade - Insights from Discussions to date building on an initial pe...Future Agenda
The initial perspective on the future of trade by Gautam Sashittal, CEO of DMCC kicked off the Future Agenda 2.0 global discussions taking place through 2015. This summary builds on the initial view and is updated as we progress the futureagenda2.0 programme. www.futureagenda.org
IDC Retail Insights - What's Possible with a Modern Data Architecture?Hortonworks
This is Greg Girard's presentation from the September 22, 2014 Hortonworks webinar “What’s Possible with a Modern Data Architecture?”. Greg is program director for omni-channel analytics strategies at IDC Retail Insights. He provides targeted, fact-based guidance to retailers for the application of analytics across the enterprise.
Malcolm Pinkerton, Research Director at Planet Retail explains how retailers should be delighting modern shoppers at the IBM Driving the Best in Retail Innovation event - 23rd Sept 2014, The Lowry, Manchester
This presentation captures Furtados, at Alpha One Mall in Ahmedabad. The format of this store, consumer insights, and consumer buying behaviour have been analysed in this presentation.
Mckinsey survey analysis. Findings for the winning companies and their strategy. Success factors to win in Indonesian market with respect to sales, trade, price
Deloitte and Tulip Retail unveiled Retail’s Omnichannel omnichallenge, a survey that looked at the plans, perceptions and challenges faced by Canadian retailers.
13 Trends of 2013 - by Eduardo Mapa Jr, Executive Partner at Havas Media OrtegaHavas Media
Havas Media Ortega Managing Partner Eduardo Mapa Jr. presented '13 Trends of 2013' during the Philippine Association of National Advertisers (PANA)'s General Members Meeting at Hard Rock Cafe, Glorietta, Makati Philippines.
In our ninth annual report, we see how consumers are both welcoming and resisting technology's growing omnipresence in our lives. For many, technology serves as a gateway to opportunity and an enabler of hyper-efficient lifestyles, but those who are most immersed are starting to question its effect on their lives and their privacy. One result is that more people are trying to find a balance and lead more mindful, in-the-moment lives.
Our forecast also puts a spotlight on the growth of immersive experiences; the accelerating shift to a visual vocabulary; the new appeal of imperfection; and the rise of telepathic technology, which will enable brands to better understand minds and moods and react in a very personalized way.
The full report-in which we cover each trend in detail, highlighting what's driving the shift, how it's manifesting and what it means for brands-is available at www.jwtintelligence.com
1. ENGAGING
INDONESIA’S
EMERGENT
MIDDLE
CLASS
ASIA NEXT
2. ASIA NEXT
A typical Indonesian mini-mart
franchise displaying promotions.
Photo: Distro42
According to a recent report by Nielsen, Indo-
nesians are predicted to earn, on average, $3,000
USD per capita by 2020, which means many global
companies have started “eyeing” the potential
expansion of their businesses in Indonesia. So, how can we reach the
Indonesian middle class? remain the highest in terms of spending outlets,
The continuous economic growth in Indonesia followed by supermarkets, with traditional
translates into the growing number of the middle- Given the many opportunities in the marketplace, retailers retaining relevance for fresh food and
class citizens. According to the World Bank, there how can retailers, manufacturers, marketers the convenience in location they offer.
are about 50 million people entering the middle- and media companies connect with Indonesia’s
income bracket with increasingly disposable middle-class consumer? Who’s Doing it Right?
incomes (from $2 in 2003 to $20 per in 2010).
Indonesia’s gross domestic product per capita is Nielsen’s report discovered that innovation has In a recent article by NYTimes.com, the mush-
now more than $3,600, exceeding that of India, proven to be the growth engine in a number of rooming trend of 7-Eleven as new hangout place
the second-largest consumer market in Asia consumer goods categories and the key to most for Indonesian consumers is an interesting
after China. middle-class spending. With an additionally case study of the changing trends in young
strong focus on value, wide opportunities for brands Indonesians and how they socialize offline. The
The majority of the Indonesian population lives to explore new innovations have been created. article found that Indonesia’s rapid economic
in the islands of Java (57.5%) and Sumatra. The growth also brought about social change as just
majority are Muslims (86%) and 71 percent of Convenience has also become an important ten short years ago, young people in Indonesia
the population is under the age of 40. Indonesia connection point for the middle class, as they gathered at street-side food stalls called warungs
boasts the 4th largest population in the world tend to visit mini-markets closest to their home to hang out and gossip.
at 248 million, making the region a promising and participate in in-store promotions. Many of
market for countless retail products targeting them are looking for attractive and interesting Currently, modern retailers such as 7-Eleven have
younger generations. promotions. In terms of shopping, mini-markets successfully changed the way young Indonesians
3. ASIA NEXT
hang out, especially in the evening. An alternative
to “warung-style” and offering better quality food
and beverages, 7-Eleven quickly brought about
a trend of fast growing retailers in Indonesia
with outlets in almost every corner of the city.
Their strategy of blending a small supermarket
with inexpensive ready-made food and seating
successfully attracted customers in a city
desperately seeking outdoor recreation space
while waiting for the mobility-restricting traffic
jams to ease.
With many of its customers under the age of thirty,
7-Eleven tapped into what Indonesians love to do
most: engage in social networking platforms. With
57,000 Twitter followers and more than 44,000
Facebook fans, 7-Eleven successfully grabbed the
attention of those who love to engage online by
providing free Wi-Fi in their outlets. For added
entertainment, the store will occasionally host
local bands with the hopes that its customers will
update their social networking statuses to help
draw bigger crowds.
Indonesians’ rising disposable incomes and strong
interest in “affordable luxury” have also made
7-Eleven stores attractive enough to draw crowds
A music group performs outside a typical 7-Eleven
from both the middle-class and nouveau riche. franchise, which has adapted to Indonesian culture
The “trendy café” is being leveraged by brand by modeling the warung.
partnerships. Apple introduced the new iPhone Photo: bigWOWO
5 to the Indonesia market in one of the 7-Eleven
4. ASIA NEXT
outlets in the suburbs. They invited people consumers. There is also an interesting trend of With all of the gadgets gaining market entry, the
through what was dubbed a “digital buzzer” to a growing awareness of political and social issues main Indonesian source for information remains
come to a designated location and witness the (unthinkable during Soeharto’s regime). This is television, with nearly all middle-class homes
introduction of the product. ever present in Millennials, who are more vocal owning a TV and 96 percent watching programs
and receptive of what’s going on with society daily. Radio and newspapers are still popular
7-Eleven is proof of how innovation has helped and government. traditional media as well, but are increasingly
create new on and offline ways for consumers being engaged via online. Advertising still plays
to connect, offering convenience and value. The Mobile penetration is already high, and purchase an important role to Indonesians in general with
retailer successfully changed the way young intent for smartphones is strong. Internet some unique TV ad approaches using “powerful
Indonesians spend their leisure time and capture usage and mobile phone ownership are surging Indonesian” slang and catchy phrases that can
their attention. at a fast pace. Smartphone devices are quickly be repeated by people on the streets and nearly
becoming the primary platform for a variety of everywhere. On example is the recent fad of “Kasih
activities, including watching videos, accessing tau ngga yaaa…” (Would I tell you… this translation
Go Online
the Internet and connecting to social networks, in is not as fun as the Indonesia version though)
Nearly a quarter of middle-class consumers turn opening channels for marketers and content
have Internet access and spend 1.5 hours a providers to focus their efforts to include mobile Therefore, the best way to engage the rising
day accessing the Internet to connect to social devices in their content distribution. Indonesian middle-class consumer is through a
network sites, with Facebook dominating their more holistic marketing mix approach including
time spent online. The potential attraction to public relations, advertising and activation
the middle-class via the digital world has been But Don’t Forget About Offline program in modern trade with a focus on value,
widespread among producers and adopted by convenience and innovation. We also need to take
nearly all brands in Indonesia. From shampoo, With the habit of visiting modern trade for their into consideration on digital approach, which
to deodorant to the ever-growing Blackberry monthly shopping, it has become very common includes social media platforms and interesting
(Edelman client) - various gimmicks, prizes for brands to conduct consumer-reaching mobile apps.
and perks draw consumers via online platforms activities in these locations. The activities can
including Facebook, Twitter and the brand/ vary from product sampling, demonstration and
company ’s owned content. With a more even games to engage the consumer in product
Sources:
demanding, time-starved, informed, and trial and point-of-sale. For example, Carrefour
choice-saturated consumer, a brand presence trained “brand representatives” also known http://blog.nielsen.com/nielsenwire/consumer/reaching-indone-
sias-middle-class/
in the digital world has been attracting more as Sales Person Girl (SPG) or Sales Person Boy
http://www.nytimes.com/2012/05/29/business/global/29i-
consumers to engage with their favorite brands. (SPB) to line up and offer various products for ht-stores29.html?pagewanted=all
consumers to sample and offer special bundle http://blog.euromonitor.com/2012/07/indonesias-rising-mid-
This approach has given brands the advan- prices for the product. This is becoming a dle-class-to-transform-the-countrys-consumer-market.html
tage of gaining insights directly from their common practice in Indonesia’s marketing mix. http://www.trendwatching.com/trends/servilebrands/