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“From health to homes, consumers are using every last bit of space and time. With a growing awareness of how limited resources are, innovations are creating valuable assets out of the otherwise unused collective intelligence,” – Forbes.com
Harnessing technology as a great enabler in the domain of human affairs, including the operations of modern commercial enterprises, has been prevalent for a while. The world of trade and commerce has traditionally hinged on human ingenuity and the many applications of modern technology. Business thinkers and market researchers have honed the art of deploying technological innovation in the service of the evolution of commerce. In that respect, we may note that current and emerging consumer behaviours can generously benefit from the intelligent applications of technology.
A common instance of the widespread application of technology is exemplified in the automated teller machines deployed by banks to enable secured access to legitimate cash deposits. We must note that these machines define the limits of convenience for the average consumer but can be modified and upgraded to expand the scope of such services. Current and emerging consumer behaviours indicate that bank customers expect to discharge a range of transactions within the confines of the system defined by automated teller machines. Therefore, banks and financial service institutions can work to expand the scope of ATMs to include contact less cash dispensing in a bid to boost customer service levels. We note that such developments are in line with modern technological capabilities and current concepts, which inform the foundations of financial technologies. In addition, modern ATMs can be configured to link with mobile apps that reside in customers’ smartphones. Once this is achieved, consumers can direct the ATMs to dispense cash and execute other transactions by tapping on their smartphones, thereby dispensing with the need to memorise complex operational codes. These possibilities demonstrate the fact that existing technologies can serve the intents and purposes indicated by current and emerging consumer behaviours.
Touch screen powered information systems have been in operation for some years now. However, the status of such machines presently, indicates that touch screen kiosks can be made more user-friendly and intuitive. For instance, these displays can be engineered to display detailed an accurate product information at retail shopping destinations. Industry players can join forces to lower the prices of each individual touch screen panel, thereby helping to make such technologies pervasive in the true sense of the term. Touch screen systems can be deployed in mobile phone showrooms and retail business centres in a bid to enhance the business connect with the average consumer or customer. This example clearly indicates the possibilities of future collaboration between technology and current and emerging consumer behaviours.
In-door marketing techniques have leveraged the possibilities inherent in low power Bluetooth beacons to attract customers’ attentions. These tiny devices can be calibrated to connect with shoppers’ smartphones and connected tablets in a bid to display the many discounts offered by merchants in retail shopping destinations. However, these devices can be engineered to initiate conversations with customers and then pitching special offers designed for visitors and shoppers. Merchants, to signal the most popular product packages available at competitive price points, thereby spurring customers’ spending patterns and decisions, can also use these beacons. This instance clearly outlines the importance of tweaking the present state of marketing technology to match current and emerging consumer behaviours.
E-commerce businesses enjoy mass fan followings and huge customer bases in the modern world. However, these businesses should be advised not to rest on their laurels and should be encouraged to make a virtue out of constant innovation. For instance, online business operators should deploy chat bots on their websites and apps in a bid to cater to current and emerging consumer behaviours. The modern customer operates in information rich environments and chat bots can be leveraged to fulfil the customer’s constant demand for information. These mechanisms can also be deployed to gather customer feedback, flag customer complaints, and to solve customers’ product and service queries. We must note that such innovation signals the online business’s intent to connect with customers and to demonstrate a pro-consumer business attitude. Further, the use of chat bots should represent an on-going attempt on the part of online enterprises to boost and consolidate customer service standards and practices.
Search engines are a definitive icon of the modern hyper-connected world wherein, almost every consumer is connected to the global Internet. Therefore, massive scope for innovations and service upgrades exist for the top search engine operators. These programs must be re-engineered to include the latest algorithms that boost predictive search and higher results on search pages. For instance, search engines should be tweaked to display real time prices of products and services for the benefit of online shoppers. Additional attempts to cater to current and emerging consumer behaviours should include fully mobile friendly online search systems keeping in mind that incrementally large segments of search engine queries now originate from mobile platforms. Further, ad-targeting technology can be overhauled to present even more relevant advertisements offering a better fit, within the context of a search engine query. We must note that some of these innovations are already underway, but much more can be accomplished in the pursuit of matching search engine results with current and emerging consumer behaviours.
In a similar vein, we may note that social media applications that have garnered massive online participation must offer frequent product upgrades and must step up efforts to safeguard user privacy in an increasingly connected world. Social media enterprises must exert their energies and resources to offer users highly contextualised (and automated) feeds in a bid to respond to current and emerging consumer behaviours. Certain social media platforms already offer breaking news capsules to online consumers in an attempt to capture a wider and deeper user base. This can be complemented by adding fact-checking modules that help to discern genuine news items from the instances of fake news masquerading as actual events. In addition, social media systems should work to complement individual users’ lifestyles and become an extension of the user’s personality. We must note that these innovations will help social media platforms to gain deeper traction among consumers and customers.
The domains of medicine and healthcare should upgrade and make unique, their standard practices to promote and boost healthy life choices among the multitudes of humanity. The current paradigms of healthcare offer immense scope for improvement in terms of ensuring a better quality of life for human civilization. A sharp focus can be created on geriatric care in order to take better care of senior citizens, while innovative and state of the art vaccines can boost childhood health and eradicate the scourge of infant mortality. The pursuit of pure profit can be subsumed to the greater good of humanity in an attempt to cater to current and emerging consumer behaviours.
In the preceding paragraphs, we have examined some of the aspects wherein brands and businesses can match current technology levels to the expectations and demands of current and emerging consumer behaviours. This is important because brands need to stay relevant in the eyes of modern consumers. This is especially so when we consider the fact that modern day consumers have deep access to a raft of market offerings and are not necessarily steadfast consumers of a particular brand or product. Therefore, modern commercial organizations should work to exceed their set targets and leverage available technological frameworks to cater to the norms inherent in current and emerging consumer behaviours.
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