“The reason it seems that price is all your customers care about, is that you haven’t given them anything else to care about.” Seth Godin, author and entrepreneur.
Technology is developing at an unprecedented pace, and the rate at which consumers adopt new opportunities is just as fast. For the first time in history, businesses are having trouble keeping up with the new consumer behavior.
What sets this industrial revolution apart from previous ones is that people are now in the driver’s seat of the transition. It is not technology that’s upending the world, but rather the behavior triggered, that serves as the foundation of the retail revolution. Citizens, customers, clients, patients, and so on are united in wanting more, better and faster service.
In this course, we discuss the “new consumer” along the dividing lines of digital natives, digital immigrants and digital illiterates. The second part of the chapter deals with drivers of behavior change and four different types of onlife shoppers. In the third section, we will explain why new technology is turning onlife consumers into vastly more loyal ones. Big data and the information war between consumers and retailers will be discussed in the fourth part. Next, we aim to show that regular consumers are becoming the powerful consumers of the future, thanks to a new level of awareness and altered mindset on their part.
Target group: Manager
Module level: Manager
Version | 09 - 08 - 2018
Part of course: Ecommerce Strategy (ECON2)