For people taking part in the survey in the age group of 65 and over, around half of their payments were in cash in both 2016 and 2019. About 78 percent of the people taking part in the survey also held some cash in their wallet or purse, just a slight fall from 80 percent in 2016. Enditem … [Read more...] about Survey shows more Australian consumers prefer to use electronic payment
Why does consumer prefer one brand over another
By Sreeraman ThiagarajanWhat do you think of when you picture humans talking to their devices and using voice to command machines? If you are like most of us, you are probably imagining a futuristic Star Trek like scenario where man-machine interactions occur as if by magic. But the reality is quite different, because voice-enabled assistants are already a part of our everyday lives, and while there is a fair bit of technical wizardry needed, none of it involves undertaking voyages to distant planets. Back on earth, at my home, the voice-enabled Google Assistant has quickly become a familiar presence, and my dad, wife and son turn to it for help, multiple times a day. Appa, who can’t see too well without his reading glasses, calls out to the Google Assistant on his phone every time he needs to access some information without having to type. My son can’t seem to get over his curiosity and keeps asking the Assistant about astronomy and math, and I usually call out to ask for … [Read more...] about Indian consumers are using voice technology to get things done. Brands are you listening?
By Sanjeev MantriCovid-19 will have an enduring impact on society. As far as consumers are concerned, we are seeing facets of their changing behaviour, forcing industries and workplaces to reorient themselves in the new order. The lockdown provided the masses with the invaluable gift of time, giving them the opportunity to re-evaluate their current lifestyle choices, adjust, reset, and restart their lives. The new consumer is informed, aware and far more receptive to the digital way of life than ever before.These changes have a far-reaching impact on all types of industries, and insurance is no different. The sector had long ago boarded the wagon of digital adoption, enabling it to fast-track its digitisation. Across all platforms that the consumer preferred, be it web, mobile, apps etc. the industry could provide convenient access and solutions, thereby ensuring service continuity. Having said this, there are other areas that non-life insurers need to align themselves to, rapidly. … [Read more...] about The reset: Context is king while marketing to the new consumer
The WHO declared the novel coronavirus (COVID-19) outbreak a global pandemic on March 11, 2020. Due to disruption in normal operation, there has been a constant tug-of-war between reducing the spread of the contagion at one end and getting the economy back on the track on the other hand. Urban India is more strongly hit as compared to the rural. The 30-day moving average of urban unemployment rate was 9.54% on September 6, 2020 as compared to 9.41% in March and 25.79% in May 2020. The salaried class working in private, small and medium businesses and self-employed professionals in non-essential sectors are taking the brunt of economic slowdown. Households are facing a new normal with kids adapting to home schooling and indoor life, adults managing household chores with minimal support system and attending to work from home, which has blurred the line between personal and professional lives. Work-life balance is completely off balance in this new normal. The pandemic has disrupted … [Read more...] about Decoding consumer behavior during pandemic
COVID-19 pandemic, brands will have to start afresh to win back the customers, says a survey.The brands have lost opportunities, customers have dwindled, revenues hit an all time low and many new challenges have sprung up. "Customers even forgot their favourite brands. For brands, winning customers back is to start from zero again," said a survey by Janrise, a Hyderabad-based brand communication firm.As the lockdown is coming to end and the markets are reopening, the survey on 'lockdown and branding' finds that reaching out to customers has to be the number one priority of brands."Brands will now have to adapt to new conditions. As much as the world wants to return back to normal, brands are doing all they can to maintain a strong relationship with consumers. Companies are even willing to increase their spends in advertising and promotions," said Suman Gadde, Director of Janrise.The survey had 61 per cent of the respondents in the age group of 27-35 years and of them 42.4 per cent want … [Read more...] about Brands will have to start afresh post-lockdown, says survey