Insight
How a customer reaches a decision today has changed from yesterday and will change more radically tomorrow
Winning the battle for an ever-evolving consumer requires a combination of deep, holistic insight and the willingness to design a distinctive, personalized and – critically – intentional customer experience. Research shows that companies that deliver excellent customer experience enjoy twice as much revenue growth as their underperforming peers.
KPMG’s unique Five Mys framework – My Motivation, My Attention, My Connection, My Watch and My Wallet – can help deepen organizations’ understanding of the complex drivers of consumer behavior.
Everything about the customer is changing – their motivations, connections, expectations, time and purchasing power. Even the landmark life events – owning a home, getting married, becoming a parent – are less predictable than they were even five years ago. Organizations that don’t detect these shifts – and adjust their strategies accordingly – will struggle to remain relevant.
- 55 percent of Indian consumers would rather lose their wallet than their mobile phone.
“It’s imperative that executives build strategies based on the new realities of their consumers – not just those they’ve served in the past – and execute with both determination and discipline.”
Willy Kruh, Global Chair, Consumer & Retail, KPMG International
