As digital transformation takes root across the consumer ecosystem, businesses must expand and deepen their relationships with consumers to better understand their wants, needs and aspirations, according to future consumer research from International Data Corporation. Through its expanded future consumer research, IDC aims to is help businesses — whether they serve consumers directly or indirectly — better align their products, services and business strategies with the evolving consumer audience.
“Technology is causing massive shifts in the way consumers live their lives, and technology companies, from hardware vendors to software developers to service and infrastructure providers, must think hard about how these shifts will impact their future offerings,” Tom Mainelli, group vice president of devices and consumer research at IDC, said. “IDC believes that organizations must redefine their mission to be more relevant to the individual to drive toward that successful future. This new approach requires rethinking company operating models and cross-industry business models with an eye toward better understanding and enabling cooperation and collaboration with adjacent companies and industries.”
As part of its future consumer research, IDC identified 11 tech trends that are driving the transformation of consumer behavior and markets:
IDC’s future consumer framework focuses on eight consumer segments: entertainment, housing, travel and dining, personal mobility, money, shopping, lifelong learning and well-being. IDC provides clients with access to three distinct research services:
IDC recently hired Frank Gillett to lead the future consumer agenda service. In addition to establishing the direction of the future consumer research agenda, he will collaborate with analysts from across IDC to illustrate how changes across the consumer landscape will affect consumer-facing companies, technology vendors and other organizations and shape future business and societal outcomes.
Gillett has 26 years of experience as an industry analyst, most recently as vice president and principal analyst at Forrester Research. He has experience investigating, predicting and advising on technology-driven innovation that drives new business strategies, service-based products, customer behaviors and consumer trends.
“Digital transformation is happening across the consumer economy, which is two-thirds of all global economic activity. This transformation is creating more and deeper relationships with consumers, resulting in disruption and change that ripples across markets and up supply chains,” Gillett said. “To understand consumer transformation, IDC will use a holistic approach to go beyond technologies and markets. The future consumer services will use a shared framework focused on eight consumer activities. With this framework, we’ll tell comprehensive stories about the future consumer and how they’re using technology to transform life’s activities.”
Like this story? Begin each business day with news you need to know! Register now for FREE Daily E-News Broadcast and start YOUR day informed!