Technology Puts the Consumer in the Driver’s Seat for Shaping Industries

Digital technology will continue to empower consumers, granting them deeper product and pricing transparency,
control over different layers of the value chain, and refinement of experiences. Survivalist mode will compel
consumers to search for new ways to be frugal, facilitating the next-generation of the sharing economy.
Selectionist mode will compel consumers to expand the hyper-personalization economy, the on-demand
economy, and the service economy. This technology will also continue to disrupt industries, challenging them to
be agile – so that they can increase the value added for the consumer – and to deliver original experiences.
Industries will have to create partnership ecosystems, develop listening infrastructure, and establish trust with
consumers to collect their data. That will allow companies to form a real-time feedback loop that can be used to
make rapid adjustments to the products and experiences.

Fuente: BBVA Research

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