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Lisa Hooker: Connected Consumers Shift from Products to Experiences

Lisa Hooker: Connected Consumers Shift from Products to Experiences

Lisa Hooker, PwC’s Partner and UK Leader of Industry for Consumer Markets, presented the “Global consumer trends & what that means for grocery” at the 16th Grocery Retail Conference, which took place today at the Hilton Park hotel in Nicosia.

Hooker’s presentation focused on consumer trends and shopping habits, both current and in the future including PwC proprietary, as well as research and the implications for grocer and FMCG companies.

In her presentation, Hooker also mentioned the continually evolving retail landscape, and increasing competition facilitated by global platforms. Some examples of this are Structural (move to online platforms), Disruptive digital models, Seamless stores, changing face of the high street, and Click and collect and returns.

Additionally, she mentioned that there has been a rapidly changing employee skill set with PwC analysis suggesting 30% of current jobs could be automated by 2030. More specifically, Hooker said that 78% of CEOs say they’re changing their people strategy for the digital age, 1 in 8 businesses are cutting jobs due to automation, 52% of CEOs are innovating with humans and machines working together, and 50% of CEOs are using data analytics to find and keep the right people.

This means that there will be more demanding, promiscuous and connected consumers who shift from products to experiences, highly segmented with less demand for the mass market products. Increasing concerns around sustainability, health and wellbeing, consumers will no longer trust the “system” or big companies.

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