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News

How would you sell to people who never buy anything?

25.07.2018
Company: EY

As shopping and buying become increasingly distinct activities, companies will have to rethink how they engage future consumers, and what goods and services they offer.

Digital technologies have given people unprecedented levels of transparency, choice and convenience. But this is nothing compared to what will happen over the next decade. Imagine a future in which people buy almost nothing; instead, they use artificial intelligence to make purchases on their behalf, or pool their resources with agents who source whatever their tribe or community needs. Is that plausible? What business concepts could succeed in that sort of future?

An encounter with a “touchable” version of a future scenario is a quick and powerful way to kick-start creative answers to such questions. That’s why I was so excited to lead an EY hackathon in Berlin where we created and explored multiple possible futures as part of our FutureConsumerNow program.

Five insights from the future worlds we generated:

  1. Learn how to impress a bot. They will do most of the buying.
  2. When consumers can objectively measure product benefits, pricing will be about results.
  3. People living in virtual realities will need virtual products.
  4. On-demand service will be too slow for “before-demand” consumers.
  5. Engage empowered consumers. They will become the most powerful influencers.

To learn more about the three worlds we created in Berlin and the possible implications for consumer-facing companies, read on.

More information here.

Written by 

 Florian Huber

Florian Huber
Florian Huber
Consumer Products & Retail Sector Leader Transaction Services
 

Tags: Finance | Business Development |

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