Today’s consumer is changing rapidly but not only due to technologically changes. Experience but also product quality, trust, and ecological concerns are making consumers more aware and more demanding. Retailers must address these drivers, using technology in innovative ways to move towards a sense of belonging that customers are seeking.
It is no secret that the science of decision-making has been deeply impacted by behavioural principles in recent years. We spoke with Professor Ivo Vlaev about the mainstreaming of behavioural economics and why corporate strategists should embrace its powerful insights.
Pioneered in developing countries, mobile banking is proving a disruptive force to providers of traditional banking services, as telcos, online providers and others create offerings of their own. Initially wary, many banks are now looking to partner with such organisations, blending complementary skills and operational models. In a relatively young market, banks must decide whether to lead or follow. Doing nothing is no longer an option.