According to new research conducted by The Institute of Customer Service, the current indecisiveness of the country’s economic and political landscape will present a further opportunity to empowering to a ‘new breed’ of customer.
Determining 12 key ‘factors of change’ expected to outline the business landscape in 2025, the ‘Customer of the Future’ report also highlights a series of potential scenarios facing UK organisations and suggests how they can start ‘future-proofing’ themselves in a bid to keep up with changing consumer trends.
Predictions made include the ‘mass consumerism’ trend ultimately becoming a thing of the past with a personalised service reigning supreme; as well as a greater influence on the ‘network economy’ resulting in competing organisations collaborating to build market share, and ensuring customers receive innovative products at a better value. With this said, an ‘unpredictable’ mindset will also be shared by customers of the future, as a reluctance to give out personal data and the attraction to personalisation may cause some problems for organisations to sustain customer loyalty.
Chief executive of The Institute of Customer Service, Jo Causon, said: “Customer behaviour is changing, and the future promises vast, exciting opportunities for new products and ways of delivering service. Yet in a climate of expanding choice, customers will also want integrated services and simple, straightforward experiences from companies they can trust. The challenge will be for organisations to understand both sets of needs and be able to move seamlessly between them.”
Researchers constructed seven pivotal recommendations to provide valuable advice to UK businesses; one of which is centred on the need for organisations to tighten their processes around the security of data – aspiring to a future scenario in which customers can give their personal information with confidence, and are assured of its long term security.
View the report infographic here