To change buying behaviour, businesses should provide an incentive for change. Case in point – airlines that provide cheaper tickets and flash sales to those who book and pay online. The airlines reduce their administrative costs, cut out agent remittances and generate cash flow. Customer gain transparency, speed and cheaper prices.
To plan for change, an organisation should think generationally. For instance, envision what the impact on commerce will be, when a generation that grew up on technology, attains significant buying power. How will the generation react to new purchasing platforms? In markets that were previously dominated by monopolies, how will millennials leverage technology to disrupt markets? Which companies will be rewarded and which ones will become less relevant?
In order to plan for change, an organisation should think generationally. Click To Tweet