Upload
others
View
0
Download
0
Embed Size (px)
Citation preview
The better the question. The better the answer. The better the world works.
How will you master the new consumer ecosystem?
Kristina RogersGlobal Consumer Leader
@KristinaRRogers
Andrew CosgroveConsumer Knowledge Leader
@CosgroveAK
Page 2
150 drivers of change
8 core hypotheses about the future consumer ecosystem
FutureConsumer.NowDrivers of change
Rise ofTransnational
Grassrootsmovements
FutureConsumer.NowDrivers of change
Sleeping asthe new
health trend
FutureConsumer.NowDrivers of change
Antimicrobialresistance
FutureConsumer.NowDrivers of change
Circulareconomy
FutureConsumer.NowDrivers of change
Industryconvergence
FutureConsumer.NowDrivers of change
Social creditscores
FutureConsumer.NowDrivers of change
Technology-enabled
de-urbanization
FutureConsumer.NowDrivers of change
Absoluteaccountability
FutureConsumer.NowDrivers of change
Gamification of everything
FutureConsumer.NowDrivers of change
DNA-tailored nutrition
FutureConsumer.NowDrivers of change
Socialengineering
FutureConsumer.NowDrivers of change
Cyber-balkanization
FutureConsumer.NowDrivers of change
Always-onEmergency
mindset
FutureConsumer.NowDrivers of change
Identityambiguity
FutureConsumer.NowDrivers of change
Universal digital library
FutureConsumer.NowDrivers of change
Plant-based
FutureConsumer.NowDrivers of change
DemandingLATTE
FutureConsumer.NowDrivers of change
CuratedConsumer
choice
FutureConsumer.NowDrivers of change
Direct toconsumer
FutureConsumer.NowDrivers of change
Fluid workscheduling
FutureConsumer.NowDrivers of change
War fortalent
FutureConsumer.NowDrivers of change
The path ofLeast
resistance
FutureConsumer.NowDrivers of change
Denormalizationof unhealthyingredients
FutureConsumer.NowDrivers of change
Openinnovation
FutureConsumer.NowDrivers of change
Global mindset
FutureConsumer.NowDrivers of change
Frictionlesspayments
FutureConsumer.NowDrivers of change
Ubiquitousconnectivity
FutureConsumer.NowDrivers of change
Retailtainment
FutureConsumer.NowDrivers of change
Transhumanism
FutureConsumer.NowDrivers of change
Internet ofthings
FutureConsumer.NowDrivers of change
Smartleadership
FutureConsumer.NowDrivers of change
4D printing
FutureConsumer.NowDrivers of change
Intuitive userinterfaces
FutureConsumer.NowDrivers of change
Sharingeconomy
FutureConsumer.NowDrivers of change
Re-evaluatinglife-stagechoices
FutureConsumer.NowDrivers of change
Simplifyingchoice
FutureConsumer.NowDrivers of change
Modular living
FutureConsumer.NowDrivers of change
Well-being confers status
FutureConsumer.NowDrivers of change
Optimized self
FutureConsumer.NowDrivers of change
Digital identity prominence
Change happens gradually, then suddenly
Anticipate and shape a preferable future
Page 3
Page 4
Probable
Plausible
Plausible Possible
Possible
Speed & scale of technological change
Sp
ee
d a
nd
sca
le o
f co
nsu
me
r b
eh
avio
ralch
an
ge
SocietyFirst
WasteNothing
HomeAnywhere
TailoredLife
TimeFirst
Balanced Life
QuantifiedCitizen
ExperienceEverythingAscendant
Consumer
DataInfluence
BetterSelf
PlanetFirst
DiversityHarnessed
ProductivityUnleashed
RuralRebooted
Which consumer future are you designing for?
Page 5
Video – Rosita’s world
Why you need to rethink your ecosystem
Page 6
Page 7
Ecosystems are becoming overwhelmingly complex
Page 8
Ecosystems are becoming overwhelmingly complex
Page 9
>50%
Global companies’ market value in
intangible assets
20%
Companies’ value captured on
balance sheet
67%
Investors demanding potentially disruptive innovation projects
despite short-term risk
The drivers of value are shifting
Page 10
Poll Question I
Go to:
menti.com
Enter:
91 48 6
Please answer:
Which capabilities will create competitive advantage in the future?
Page 11
Sustainable competitive advantage
Scope
ScaleEfficiency
Historical mindset
The levers of competitive advantage are changing
Page 12
Historical mindset
Sustainablecompetitive advantage
Transformative mindset
Dynamiccompetitive advantage
Scope
ScaleEfficiency
Technology at speed
Businessmodel
reinvention
Human centricity
Acceleratingchange
Disruption
ecosystem
The levers of competitive advantage are changing
Page 13
Tech at speed
Businessmodel
reinvention
Human centricity
• Strapped for capital to invest in future
• Driving lower costs to free up capital and survive current cycle
• Service delivery model not delivering fast enough
• Out of sync with customer demand
• Unable to deploy/upskill • Obsolescence of core skillset
and recruitment channels • Rising attrition | EVP mismatch
• Creating customer value• Need to optimize experiences• Transition faster from back
office to front office
• Increasingly data-driven• Customer vs. brand• Engagement vs. communications
CMO
CFO CIO
COO CHRO
Functional agendas are increasingly siloed
Page 14
Maximizing value will require companies to create ecosystems of common purpose
CFO
COO
CIO
CHRO
CMO
Page 15
Poll Question II
Go to:
menti.com
Enter:
91 48 6
Please answer:
What are the key barriers to extracting value from your ecosystem?
How to master the new consumer ecosystem
Page 16
Page 17
Transform from the future back
Create an early warning system
Challenge every assumption
Choose the right relationship
Be the right partner
Ecosystem
mastery
Page 18
Transform across the now, next and beyond from the future back
• Transform based on your purpose and future, not your legacy and baggage
• Create value for the consumers who share your values
• Think, operate and plan in the three dimensions of now, next and beyond simultaneously
Page 19
CGF 2018: What will the future consumer value?
Challenge every assumption about creating value for the consumer of tomorrow
• Value creation is not a zero-sum game
• Re-evaluate the way you measure value
• Identify which legacy capabilities will truly create value for the consumer
Page 20
Buy or accelerate development of that capability
Create strategic partnerships in areas that are developing fast and internal resources cannot be built
fast enough
Economies of scale are achievable and no partner available to do it
cheaper
Outsource and look for cost reduction opportunity
Partner/collaborateKeep in house
No
n–d
iffe
ren
tia
tin
gco
mp
ete
ncy
Dif
fere
nti
ati
ng
co
mp
ete
ncy
Choose the right relationship
• Identify which capabilities must be kept in-house, what should be outsourced and where you should partner
• Expect partnerships to be fluid. Friend and foe is not a binary choice
• Form ecosystem partnerships where purpose is aligned
Page 21
Be the right partner
• Invest time and resources to ensure partnerships are a success
• Realign the internal organisation to ensure collaboration across functional silos
• Allow your consumers and your talent to participate in your success
Page 22
FinancialPerformance
Start-ups
Founders
Outside Disruptors
Smart Money
Investors/ VCs Acquisitions
Industry Competitors
Technology
Collaborations– Alliances,
Joint Ventures
Future consumer
needs
Create an early warning system
• Anticipate and stress-test your business against future consumer scenarios
• Track competitor and partner investments and relationships
• Create a skunkworksteam charged with “killing your business”
Page 23
Video – EY Embryonic
Page 24
Meet future consumers such as Rosita, Sam and Wanyi - face to face
Connect with our EY people to:
Explore where you can invest to transform your business with EY Embryonic
Page 25
Q&A
EY | Assurance | Tax | Transactions | Advisory
About EYEY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities.
EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. Information about how EY collects and uses personal data and a description of the rights individuals have under data protection legislation are available via ey.com/privacy. For more information about our organization, please visit ey.com.
© 2019 Ernst & Young LLP.All Rights Reserved.
CSG 1906-3177541ED None
ey.com