Platforms like Uber, Facebook, and more have given rise to the customer-to-customer economy.
This article highlights the evolving consumer trends that businesses should account for and rethink their products and services, to provide value and resolve consumer issues. Because COVID-19 accelerated the consumers’ move to online and disrupted supply chains, more consumers are now discovering brands through digital channels.
Businesses must prioritise optimising digital-first interactions across apps, improve omnichannel experiences, and build digital-only products to meet consumer expectations. Also, with AI and the Internet of Things being adopted across products and services, more products are being made “smart.”
Customers expect brands to provide meaningful connections and personalised micro-moments. They are opting for subscription-based items, finding direct routes to buy without middlemen, and keeping track of consumption, as convenience and environmental awareness takes precedence in their lives.
[5 minute read]