Me, my life, my wallet: second edition
Groundbreaking research into the multidimensional customer of tomorrow.
15 February, 2019
Businesses need a fresh approach to help understand the underlying, complex, and interconnected drivers of human decision-making.
KPMG’s second annual Me, my life, my wallet survey shows how customers are responding to a collision of geographic, geopolitical, demographic and technological revolutions which has created a ‘perfect storm’ that’s made understanding your customer more important than ever. By confronting the big questions facing tomorrow’s customer, businesses will be best placed to build sustainable, value-creating relationships with consumers and drive business growth.
Top customer trends
Me, my life, my wallet, a survey of over 25,000 consumers, explores the six key trends of today’s multi-dimensional customer:
•Trust is the new currency – customers are far more sensitive about how their details are used and by whom. Can your customer trust you? And more importantly – do they? When establishing trust in your business, the need for balance between permission and presumption is more crucial than ever.
• Data – An increasing reliance on technology has created a complex data trail across devices, interactions and key life stages. Is your business making the most of these insights in this hyper connected era.
• Wealth and retirement – our data reveals a somewhat anxious, yet complacent and ill-prepared, consumer. Businesses need to understand how the prospect of living longer met with the need or desire to work longer is shaping the way consumers are planning for the future.
• Generational surfing – is your business overlooking Generation X*? We challenge the hype surrounding baby boomers and millennials by turning the spotlight on Gen X to look beyond the generalisations.
• The customer of the future - how can your business deliver more personalised experiences to customers? Defining and delivering the appropriate degree of personalisation remains a challenge.
• The B2B customer – Business customers are also consumers in their personal lives and they are bringing their rapidly changing expectations to the workplace. Applying consumer behaviour lenses in a B2B context can pay dividends.
Download our report, Me, my life, my wallet.
The Five Mys
Our 2018 research revisited the five key drivers that influence customer behaviour - what we call The Five Mys. By utilising these drivers - My Motivation, My Attention, My Connection, My Watch, and My Wallet – your business can develop an understanding of how and why your customers make decisions.
*Born between the early-1960s and 1980.