Customer Centricity in the Connected World

Consumer interacting with mobile.

In this infographic, we explore the new trends that are impacting customer spending:

 

The Price of Data

Under the European Union’s General Data Regulation Protection (GDPR) entering in May 2018, firms that breach data will face a fine of 20(euros) or 4% of global annual turnover, a rise from the current £500,000 maximum fine.

Cognitive Services

Companies like Facebook and Google through virtual recognition and translation can understand a customer’s personality. This is then sold to other firms.

‘Learned Helplessness’

Users are forced to accept the terms and conditions for apps like Instagram or they cannot access them.

Customer Focused Business Unicorns

Of all the Business Unicorns (companies with at least $1 billion valuation), 55% are consumer-focused with average worth of $5.1bn.

Global Cyber Assault

A ransomware cyber-attack, by group WannaCry has hit 200,00 victims across 150 nations including Britain’s NHS and Russia’s Interior Ministry.

Mountain of Debt

According to The Economist, the total amount of capital, both debt and equity supporting US retailing exceeds $2.5trn.

Borrowing Binge

Total UK Household debt, according to Bank of England figures stands at £192bn.

Cashless Future?

Notes and Coins in circulation in Sweden have dropped to an average of 56.8 kronor ($6.4 million), its lowest since 1990. The country is moving to cashless payments with Sweden’s biggest lenders having stopped handling cash. 

 


To view the infographic, please click on the link below:

Post Date: 31/05/2017

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