While the current economic turmoil is causing consumers in the industrialized world to reassess their purchasing decisions, many in the developing and emerging markets are continuing to experience growth. With a projected 900 million new middle class consumers in Brazil, Russia, India and China in the next decade, it is imperative that consumer-focused businesses adapt to this shift in economic power.
Beyond the economic uncertainty, the pace of technological development is also having an impact on consumer behavior. A more complex and confident consumer is emerging. Thus consumer-focused businesses need to understand these developments and adjust their strategic priorities.
Retailers must find new ways to leverage the deluge of data being captured via multi-channel interactions with their customers, whilst at the same time ensuring that data is kept secure.
Consumer Product companies are looking for new ways to reduce costs and drive revenues by exploring new markets and dynamic operating models. Security and sustainability considerations remain a constant topic of interest in the transportation sector.
Relevant ERS propositions for the Consumer Business industry