The Age of Uncertainty

LinkedIn discussion topic: Thoughts on the direction retailers and consumer goods companies are taking, vis-à-vis the advance of technology as disrupter AND enabler. As well, where are consumers -themselves- heading...what do they want, need, require?

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The human element--

Consumers/customers are not always conscious of what they want, which complicates survey data that show one thing while actual consumer buying patterns can show entirely different trends. What we do know is that consumers favor convenience, low cost, and acceptable quality. We also can see consumers appreciate prestige and opportunities for social interaction and that they are willing to pay more and to be inconvenienced for those--within limits--meaning, prestige and opportunities for social interaction become less important as consumers' economic insecurity grows.

The impact of technology--

Technology enables companies to compete globally for customers--impacting younger early adapters first then growing out from there to older demographics as lower cost and convenience become ever more obvious.

But technology changes ever more quickly. This causes enormous competitive pressures within the high tech industry and advantages companies such as Amazon that have developed flexible management/partnership-based structures. The power of these changes is also drawing attention to the humans behind the curtain. As these unelected people increasingly impact our lives we wonder, who are they--what are their values and motivations?

The frustrations of government--

Another wild card is the regulatory, legislative, and taxing frameworks in which all of this operates, as plodding legislators and regulators seek to address perceived economic and social injustices in sectors that are moving at the speed of light--by the time their regulatory hammer falls the intended targets have already moved.

The uncertainties all this brings is causing societies to question the relevancy of their traditional democratic governing structures. Furthermore, instability is not something investors and businesses like--so there is growing pressure for companies to become social activists in order to address stakeholder concerns about issues that seem to be beyond the reach of our governing classes.