Rise in digital media consumption and trustworthiness of online reviews
The KPMG report indicates that the United States has the highest media and digital media consumption compared to the rest of the world, with new consumption via social media on the rise. What’s more, U.S. consumers also demonstrate more trust in online reviews.
Connectivity on mobile devices is also on the rise in the U.S., with 43 percent of users receiving a notification on their phone at least every 10 minutes.
“Ordering and paying for goods and services on mobile devices is becoming the norm, which is why we’re seeing significant investments by retailers in the mobile consumer experience,” said Mark Larson, national leader of KPMG’s Consumer & Retail practice. “This holiday shopping season you can expect to see new forms of mobile interaction with consumers, from advertising and in-store engagement, to predictive analytics and checkout processes. Companies need to adjust to customers’ increasing dependence on mobile devices and provide frictionless experiences and on-demand services for everything from food to a pet grooming.”
The underlying drivers of human decision-making have become exponentially more complex in recent years. Yet transactional data, traditional market research and demographic profiles alone are proving inadequate to explain not just what customers are doing, but why.
“Making sense of the signals of change is critical to keeping up with your evolving customers. Finding the right ways to mine and analyze these signals will help companies better predict customers’ changing needs and expectations,” said Colleen Drummond, head of KPMG Innovation Labs and a partner with KPMG in the U.S.
Source: KPMG LLP