Details

  • Industry: Media & Entertainment, Electronics, Software & Services, Technology
  • Type: Publication series
  • Date: 12/16/2011

Consumers and Convergence 5: The Converged Lifestyle 

Welcome to the era of the Converged Lifestyle. KPMG finds that businesses had better get ready for some fast technology and even faster consumer adoption.

Technology is once again changing the way consumers interact with businesses. In almost every major market and customer segment, our survey shows that consumers are increasingly looking to new technologies and devices to help them get what they want, when they want it.

 

Indeed, whether they are buying goods on their mobile phones or keeping up with friends on social networks, consumers are clearly focused on attaining the right mix of technologies to enable their rapidly converging lifestyles.


But what will the impact be on businesses? The survey examines consumer preferences and biases around the world to identify the most critical trends for businesses.

 

Companies are using ‘Privacy Walls’ to collect valuable customer data
Consumers seem to be increasingly comfortable with being tracked online, but are also concerned about the security of their personal data. The answer may be privacy walls.

 

New market entrants are quickly gaining consumer trust
In the new digital world, ‘trust’ is a critical requirement. But businesses may be surprised to find out who their customers actually trust, and what it takes to maintain their trust.

 

Consumer preference is radically changing the retail business model
As consumers shift much of their shopping to online stores, the retail sector will need to move quickly to ensure that their assets and business models are properly aligned to market demands.