editorial |
Changing times: Consumers reimagined By Mpho Hlefana, Group Marketing Manager at Decision Inc.
A
ccenture surveyed more than
to exposure to global brands and
25,000 customers across 22
standards, customers expect fair pricing
countries and found consumers
and good service – and they will leave
have changed their buying habits and
brands they’ve been loyal to for years to
preferences, altering the power dynamic
get what they want, at a better rate.
between brands and people completely. The research didn’t find these changes
Customers also expect businesses to
within a specific demographic or age
know them better. To be able to almost
group, in fact they’re a heterogenous
identify their needs pre-emptively
group that expects more from
with interactions and engagements
brands when it comes to values, cost,
that connect with them on a highly
convenience, service, reputation
personalised level. Brands need to be
and trust. Consumer attitudes have
serving up ads and content from the
been fundamentally reshaped by the
moment a customer starts surfing for
pandemic, and will likely continue
a product or service, and they need
to evolve in fresh directions that will
to ensure that these are relevant and
equally reshape how companies engage
customised. They also expect that
with them. Those that do not evolve, will
their experiences with a business will
not survive.
be uniform across every channel and touchpoint – regardless of whether
Dealing with consumers has become
this is instore or via a digital channel.
more complex primarily because of
Customers are more connected now
expectations. The power dynamic that
than ever before and they’re influenced
long rested in the hands of the mighty
by more than just adverts and content,
business has now landed in those of
they’re equally influenced by their
the consumer. They have more choice,
peers, influencers, social media and
they have access to more information,
global opinion. Purchasing decisions are
they want better pricing and service,
powerfully impacted by the people that
and they want personalisation. Thanks
customers identify with, but equally by
114 | TOP500 | 12th Edition