Consumers are harder to define, understand and please than ever before.
Digital technology is altering how, where and when consumers shop. It's transforming their expectations and interactions with suppliers – from retailers and manufacturers to governments and utilities.
This upheaval has come so fast that many organizations are struggling to adapt their business models to keep up with the evolving demands of consumers and the escalating potential of technology. And one thing is clear: the future will be no less turbulent.
To get a clear picture of the new consumer and offer solutions to how organizations can keep pace with their shifting needs we conducted an extensive international survey.
The survey took the pulse of almost 25,000 people of all ages and backgrounds, in 34 countries, across both mature and emerging markets.
It asked detailed questions about purchasing activities, preferences and perceptions across 10 different products and service areas:
- Commodities (electric, water supply, gas supply)
- Consumer electronics
- Consumer loan
- Drugs/medical supply
- Food & beverage
- Governmental authorities (fiscal authority, registry office)
- Household insurance (car, house, etc)
- Telephone/mobile contract
The findings provide further evidence of the changing nature of commerce and valuable intelligence into contemporary and future trends: