Me, My Life, My Wallet
In an era defined by uncertainty, the companies that get closest to their customers will emerge ahead of the pack. This begins with an “outside-in” view, building new ways of understanding how and why people make decisions.
Julio J. Hernandez, Willy Kruh
20 minute read
You already know that customer behaviour is changing. Power has shifted from companies to consumers, the mobile phone has become the remote control of our lives, trust in institutions and traditional advertising has diminished. Customer trade-offs and decisions are more opaque and moving faster.
You’re already aware that the structure and composition of industry has changed. New entrants with radically new business models are enacting disruption across the value chain, reshaping ecosystems from sector to sector. Meanwhile, company lifespans are shrinking and the paths to billion-dollar valuations are accelerating.
All these challenges are well documented across business media, research reports and conference presentations. But how should you use this information to understand not only where your customers are today but where they’ll be tomorrow? How can you rethink the basis of competition and pivot your operations and business models to win in the battle for growth?
It’s time for a new approach. One that employs a multidimensional framework to engage what is now a multidimensional consumer.
Me, My Life, My Wallet draws on an in-depth body of research, combining trends analysis of social, technological, economic and geopolitical data; ethnographic interviews with consumers on four continents; and a proprietary quantitative survey of consumers in China, India, the UK and the US. Consider this small preview of the detailed insights explored over the course of this report and ask yourself: Do I really know my customer as well as I think I do, or as well as I should?