According to PwC, today’s customer is increasingly discerning in what, how and when they buy. The growing trend of conscious consumerism is no longer in its infancy.
Expectations are changing, and there’s a growing demand for quality over quantity, durability over disposability. Added to that is concern over personal finances, where inflation remains the critical factor affecting people’s spending, even with consumer confidence returning.
Data-driven insights enable brands to deliver personalised recommendations, tailored messaging, and relevant content that resonates with consumers. When implemented correctly, it gives customers the necessary information to make informed purchasing decisions that align with their specific needs and preferences.
However, there remains a vital need for insight, creativity and imagination. While incredibly valuable, organisations need to be careful about over indexing on data, tech and automation which can have a negative effect on human connection and authenticity.
According to Shobana Rajamani, Partner at PwC UK: “The goal of organisations today is to capture customer interactions, connect them to their history, regardless of device or source and deliver an immediate, personalised, seamless experience. The challenge is finding the right technology and operating models to stay ahead of competition and abreast of technology developments like GPT and AI.”
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