The trend of “Power to the People” continues

Observation:  One mega-trend we’ve been talking about for years is something we refer to as “Consumer Control.”  Essentially, it is the acceptance that consumers dictate the terms of the relationship, whether you work in products, services, retail or wholesale.  Pervasive Technology has empowered the consumer to make decisions that they once left to a vendor or service provider.  This, combined with increased competition in the wake of the Great Recession, has contributed to a power shift, in which the consumer wields tremendous control.

This trend was reinforced by an article in this week’s Iconoculture newsletter.  Click here to see it. 

Implications:   Do you serve customers?  Or collaborate with them?  Do your customers want to be call the shots, or do they hope to receive full service... or both?

[Note: For more stories about Consumer Control dating back to April 2008, click here.  For stories from the Elm Street Economics consumer trends blog that are related to Pervasive Technology, a contributor to the trend of Consumer Control, click here.]

Mike Anderson, for the Elm Street Economics consumer trends blog. A service of The Center for Sales Strategy, Inc.