So, should we demand less?
No
We are expecting individuals and overall society to not demand less but actually more – in both quality and quantity.
We expect individuals to have an ever-growing demand for personalisation and seamless service/product delivery. All the while being concerned about how the required resources (physical and human capital) are being utilised throughout the production cycle and how this process affects the community.
In a nutshell, this individual expects a virtuous cycle and sustainability of what he/she identifies as his/her community.
The New Age Conscious Consumer
As it stands today, personalisation implies a much higher use of resources, which is not compatible with the New Age Conscious Consumer. Thus to reach this new process of personalisation, the current system needs to change to adapt and cater to a broader market.
Augmented Offline
This is the first step to improve products and services to match this reality. Businesses would have to adopt an end-to-end hybrid approach to minimise resources to deliver personalisation at high volume. For most traditional companies, this requires a shift in the business models to cater to digital and other personalisation enabling technology, and even for fully digital businesses, some business model changes will still be required due to the value in the offline side of businesses.
Global-to-Local
We believe that to embrace personalisation fully, a “Global-to-Local” mindset needs to be instilled in businesses. This concept embraces not only geography as well as the need to have a higher degree of efficiency in order to cater for added personalisation.
Resources
This new demand trend requires a great deal of personalisation and intrinsically built sustainability. The use of resources, which we consider as anything used as input to provide products or services, ranging from purely physical to human capital and everything in between, needs not only to adapt to serves this new business models but also change its own business model.
The solution
We see a way forward where the status quo must change for the better and adapt to the needs of the New Age Conscious Consumer and our surrounding habitat.
