Innovating The Next Big Thing April 25, 2015 ph.gif
ph.gif
Sections

Analyst Insights
Enterprise Insights
Network & Information Security
Enterprise Mobility
Remembering 9/11
About

Next Innovator Group

TechnologyInnovator
• NextInnovator
EnterpriseInnovator
SecurityInnovator
DefenseInnovator
WirelessInnovator 
• HPinnovator
EnergyInnovator
TransportationInnovator  

Contact

• NextInnovator(at)Live.com

Writers Wanted

Writers Wanted

Feedjit Live Traffic Feed


Next Innovators

Ghost City
Frontline Sentinel
• Innovation Insights
WebInno
Over the River
Enderle Group
Security Insights Blog 
McAfee Audio Parasitics
Rethinking Security
Ovum
iSuppli
Canalys
• eMarketer 
• CRM Help Desk SW 
Rethink Research

McAfee AudioParasitics


 
Barry's Book Shop
Ads

ph.gif ph.gif
Enterprise Insights Gartner Outlines 10 Consumer Macro Trends to Impact Technology, Media and Service Providers for Next 10 Years
Apr 16, 2012 – Christy Pettey

STAMFORD, Conn., April 16, 2012— Consumer technology markets are being redefined by a new set of consumer expectations and values shaped by global economics, technology and social change, according to Gartner, Inc. Analysts have identified 10 consumer macro trends shaping the technology, media and service provider markets over the next 10 years. All 10 of these trends converge around questions of value — what consumers value enough to pay for, how consumers' values are changing, and how technology and service providers (T&SPs) can respond to this to increase their sales and margins.

"Technologies are changing fast, but so are consumers. An understanding of the major demand-side dynamics is critical in order to build a 360-degree view of how the volatile market for digital technologies and services will evolve the next 10 years," said Nick Ingelbrecht, research director at Gartner. "Consumer macro trends are summaries of often complex and interrelated shifts in consumer behavior. All of these aspects of consumer behavior are dynamic and specific change drivers, and all of them impact technology markets."

Market Trend No. 1 — The Great Depression, Part 2: Consumer Confidence and the New Normal

Consumer technology markets are being redefined by a new set of consumer expectations and values shaped by global economics. In mature markets, many consumers have cut back on discretionary spending in the wake of successive financial crises. However, consumers seem to put a higher value on media and communications products in times of recession as they cut back on more-expensive substitutes. Tough times create "buyer's markets," meaning that T&SPs must adjust their operations to accommodate changing consumer expectations. This involves switching to more recession-friendly marketing messages, a greater range of "affordable" or "value" product options, more-strenuous customer engagement efforts, and improved customer experience.

Market Trend No. 2 — The Impact of Acceleration/Deceleration: The Temporal Digital Divide Widens

Structural acceleration is changing consumption patterns and leaving some consumers behind. Acceleration means consumers expect regular and increasingly frequent product upgrades. Over time, there has been a closing of the classic "digital divide" between the haves and have-nots in terms of access to basic technology products and services. However, new digital divides have opened up, especially inequalities in relation to the social graph and consumers' ability to access and manage — or not manage — real-time, nonstop ubiquitous connectivity that is the product of technological acceleration.

Acceleration should in theory give consumers more spare time to do the things they want. In reality, they experience the reverse. Therefore, the most valuable product that T&SPs can deliver to consumers is extra time in the day to do things that they want or need to get done. Products and services that help consumers fill their time more productively and/or pleasurably are the most compelling

Market Trend No. 3 — Women Wanted: Unlocking Gender Opportunities

The consumer technology market is trending toward the production and marketing of more female-friendly technology products targeted at the market's single biggest demographic: women. Women are underrepresented in key job roles within the technology and media sectors. This is clearly a missed opportunity given that women typically control from 70 to 80 percent of household spending, including big-ticket items such as computers, cars and houses. T&SPs should conduct a gender audit and invest, if necessary, in recruiting suitable talent to redress underrepresentation of genders in key decision-making and creative roles.

Market Trend No. 4 — The Power Customer Replaces Consumer Power

Technology is facilitating more customized shopping experiences and putting greater power into the hands of the customer. Consumers have unprecedented access to the information they need to make more-informed decisions about switching between brands. Dealing with empowered consumers makes life more challenging for brands, but presents an opportunity for competitive differentiation to organizations that are prepared to invest in meeting the demands of power customers. Technology brands need to assess and improve their ability to interact and develop a relationship with their customers through customer care initiatives, including after-sales and technical support.

Market Trend No. 5 — The Social Information Lifeline

The consumer market is increasingly turning to social networks for news and information and tuning out of mainstream media news feeds. Increasingly, consumers are turning to social networks to get their daily fix of news and information about the wider world, as well as sharing their news and posting their commentaries. As a result, news format and content are progressively being reconstructed around social media channels. News media and content providers need to move to a multiscreen distribution arrangement using social, mobile and interactive channels. Social media will continue to challenge traditional brand relationships and business models, and a whole-organization response will ultimately be required in building a cohesive social CRM.

Market Trend No. 6 — Humanity 2.0: Consumers Become the Computer's "Killer App"

The market is being driven by self-reinforcing patterns of technology usage that are fundamentally changing consumer behavior. The self-reinforcing characteristics of technology usage shows that not only will the consumer technology market grow, but it will also take a bigger share of the consumer wallet in the future, as well as creating new markets. Technology providers must anticipate changes in consumer behavior early in order to create a credible presence in the new media environment. At the same time, two-thirds of the market can be considered later adopters, who will be slow to absorb new services and digital interactions, and T&SPs should consider developing bridge products and services that will allow later adopters to embrace these technologies and products.

Market Trend No. 7 — Renegotiation of Consumer Trust

The consumer market is seeking new institutions, brands and values to trust in. The collapse of confidence in traditional institutions following bank failures, government collapse, corruption, economic and civil unrest and the disruption to previously accepted "norms" (such as local communities and nuclear families) have sent consumers searching for new brands, values and social organizations that they can trust. Brands that help their customers through hard times can build strong emotional and cognitive loyalty among consumers, leading to significant opportunity for brand extension.

Market Trend No. 8 — Changing Channels: Brands Chase the Migration of Consumer Mind Share

The consumer market is shifting online, but consumers still expect a multichannel brand experience. In terms of scale, retail stores will remain dominant revenue generators for some time to come, and the importance of online channels depends on the product. However, customers don't think in channels; they just shop, and retailers, therefore, need to make the shopping experience as integrated and seamless as possible. T&SPs should build their multichannel operations around their business intelligence systems in order to understand the voice of the customer, using business analytics to track the behavior of consumers across channels, reallocate resources and rebalance priorities as necessary.

Market Trend No. 9 — The Death of Complexity

The consumer market is becoming progressively less tolerant of complexity. Although consumers tend to buy products with ever-richer features, they often prefer those that are simple and intuitive. The ability to provide appealing and intuitive user interfaces has become a critical point of differentiation among competing technology providers. As technology becomes more complex, vendors need to invest more in keeping the user interface simple and intuitive. T&SPs therefore need to focus on simplifying technology, pricing, brand messaging, and feedback and interaction, and consider offering chargeable help services for consumers challenged by installing and configuring new equipment and services in their homes.

Market Trend No. 10 — The Destiny of Demographics and Rise of the Mainstream Middle Class

The focus of innovation and consumption is shifting to emerging economies. By 2030, China will have world's most rapidly aging population, aging faster than Germany or Japan and, by that time, India will be world's youngest in terms of population trajectory. Demographics clearly impact consumption patterns, but so, too, do consumer culture, values and attitudes, including consumer expectations. Class matters to brands because the middle classes tend to control a disproportionate share of the national income and make brand choices based on factors other than price. T&SPs need to increase engagement and exposure to emerging markets, in particular recruiting and building an understanding of local consumer needs and preferences, and applying those to the broader innovation process and strategy.

Additional analysis is available in the Gartner report "Market Trends: Consumer Macro Trends, Worldwide, 2012-2022." The report is available



Read the rest...

» Send this article to a friend...
» Comments? Tell us what you think...
» More Enterprise Insights articles...

AddThis Social Bookmark Button

Comments
blog comments powered by Disqus

Search EnterpriseInnovator

ph.gif ph.gif
Support This Site



Newest Articles

• 4/17 McAfee Blog Central: Cybercriminals upped their game in 2014, according to Verizon report
• 4/17 McAfee Blog Central: Breaking Beebone: Global Takedown, Local Shut Down
• 4/16 IBM News: IBM Opens Threat Intelligence to Combat Cyber Attacks
• 4/15 McAfee Blog Central: Botnet to Cybersecurity: Catch Me If You Can
• 4/15 IBM News: IBM Confers Highest Technical Honor to 10 New Fellows
• 4/14 Symantec News: Deceptive New Tactics Give Advanced Attackers Free Reign Over Corporate Networks
• 4/14 McAfee Blog Central: Taking a Close Look at Data-Stealing NionSpy File Infector
• 4/14 McAfee Blog Central: Verizon Report Foreshadows Breaches Originating With IoT Devices
• 4/14 Intel News: Intel Reports First-Quarter Revenue of $12.8 Billion, Consistent with Revised Forecast
• 4/14 IBM News: Johnson & Johnson and IBM Announce Plans to Collaborate on Advanced Solutions Designed to Transform Healthcare Delivery
• 4/13 Symantec News: Symantec Expands Incident Response Services Globally
• 4/13 Symantec Connect: The Old and New; The Difficulties of Keeping Up To Date
• 4/13 McAfee Blog Central: Do you have a mobile wallet?
• 4/13 IBM News: IBM Acquires Explorys to Accelerate Cognitive Insights for Health and Wellness
• 4/13 IBM News: IBM to Acquire Phytel to Help Healthcare Providers Deliver Higher Value Care
• 4/13 Cyber Trust Blog: A cornerstone to trust in technology – compliance – proves foundational as more U.S. government organizations adopt cloud services
• 4/9 McAfee Blog Central: Takedown Stops Polymorphic Botnet
• 4/9 McAfee Blog Central: Reducing your breach risk through vendor consolidation
• 4/9 Intel News: U.S. Department of Energy Selects Intel to Deliver Nation's Most Powerful Supercomputer at Argonne National Laboratory
• 4/9 IBM News: IBM Research Sets New Record for Tape Storage
• 4/9 IBM News: IBM and Barcelona Supercomputing Center – Centro Nacional de Supercomputación Celebrate a Decade of Collaboration
• 4/8 McAfee Blog Central: Phishers take on the White House and win
• 4/8 Intel News: Intel Marks 30 Years in China with New Products, Investments and Collaborations
• 4/8 IBM News: U.S. Army Taps IBM Hybrid Cloud for One of Federal Government's Biggest Logistics Systems
• 4/8 Cyber Trust Blog: Transparency & Trust in the Cloud Series: Omaha and Des Moines
• 4/7 IBM News: NASA and IBM Rally Global Developers around Space Exploration on the IBM Cloud
• 4/7 IBM News: Coca-Cola Amatil Improves its Customer Experience with IBM Cloud
• 4/6 Symantec News: Symantec to Webcast Quarterly Earnings Call
• 4/6 McAfee Blog Central: 4 Tips for Spring Cleaning Your Digital Life
• 4/6 Intel News: Intel to Change Financial Reporting Structure
• 4/2 Intel News: Intel Publishes 2014 Annual Report and 2015 Proxy Statement; Sets Date for Annual Stockholders' Meeting
• 4/2 Intel News: Ingenico Group and Intel to Bring Payments to the Internet of Things
• 4/2 IBM News: IBM Rolls Out Social Messaging Software for a New Way to Work
• 4/2 IBM News: IBM and China Telecom Partner to Accelerate Mobile Enterprise Adoption in China
• 4/1 McAfee Blog Central: British Airways frequent flyers report stolen air miles
• 4/1 IBM News: 4 Out Of 5 Consumers Declare Brands Don’t Know Them As An Individual, According to IBM and Econsultancy Study
• 3/31 McAfee Blog Central: The Scan: 5 Habits of Practically Unhackable People
• 3/31 IBM News: IBM Connects “Internet of Things” to the Enterprise
• 3/31 IBM News: IBM and The Weather Company Partner to Bring Advanced Weather Insights to Business
• 3/31 Ovum: WhatsApp takes on the challenge of VoIP communications
• 3/31 Gartner Says Mobile App Adoption Is Maturing as Usage Mellows
• 3/31 Gartner Says Asia Pacific Devices Shipments to Grow 3.2 Percent in 2015
• 3/31 Cyber Trust Blog: RSA Conference 2015: Enhancing Cloud Trust
• 3/31 HP Security Products Blog: Join us at the HP Software Government Summit--on April 7th!
• 3/30 McAfee Blog Central: Endpoint Security Questions Every Leader Should Ask
• 3/30 HP Security Products Blog: Enterprise network security: What’s new for the week of March 23, 2015
• 3/27 Ovum: Facebook’s Messenger Platform takes measured steps towards a richer user experience
• 3/27 eMarketer: UK to Achieve World First as Half of Media Ad Spend Goes Digital
• 3/27 HP Security Products Blog: Securing the Internet of Things: Mapping IoT attack surface areas with the OWASP IoT Top 10 project
• 3/26 McAfee Blog Central:Cloud Computing – It’s a Question of Trust

AddThis Feed Button

Barry's Books


Ads

ph.gif
ph.gif Top ph.gif

© 2008 EnterpriseInnovator. All rights reserved.