How do you tell a fad from a trend?
COVID-19 has shown emphatically how integral data and analytics have become to the way we live, work and do business.
The widespread and immediate changes brought on by COVID-19 forced businesses to change how they engaged with the marketplace, their customers, their employees, their partners and how they operated. Employers were forced to adjust how and where work was executed. Supply chains needed to adapt and restructure. There was a significant recasting of how business operated in light-of COVID-19 combined with the acceleration of the Environment, Social and Governance agenda and changing customer beliefs.
To navigate forward, businesses must emphasize understanding their customers. Relying on a historical understanding and assuming you know what your customer thinks and is feeling is more dangerous than ever before, as COVID-19 has led many to change their outlook and reprioritize.
In the third edition of Me, my life, my wallet, we’ve continued our exploration of the multidimensional customer—what’s truly driving behavior and choices, and how this is set to change as the customer of tomorrow emerges. As the operating environment continues to shift, businesses will once more have to evolve their engagement model to service the changing consumer. This year’s survey consisted of more than 18,000 consumers across 16 counties, regions and jurisdictions, giving a truly global view of how businesses can chart a course to meet customers where they are, with what they want and how they want it—if they are to survive today and thrive tomorrow.
Our report is designed to help you continue on your journey as we all adapt and align to a new reality. Knowing the evolving customer better can instill confidence in charting a path forward in such a dynamic environment. Our global network of KPMG consultants is here to help you navigate the challenges ahead.
of consumers expect companies to reduce all friction associated with delivery.
of consumers are now more focused on saving rather than spending.
of consumers prefer buying from and into the brands whose actions align with their beliefs and values.
of consumers are willing to pay more to an ethical retailer or brand that gives back to society.
Highlights from the report
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