Finweek English Edition - - COVER -

sciously. They are em­pow­ered to­day and the is­sue with that is that they are much more de­mand­ing. The con­sumer will ex­pect to be in power. They will ex­pect to have choice at their fin­ger­tips so that they can de­cide and as such the ex­pe­ri­ence in terms of choos­ing the prod­uct be­comes fun­da­men­tal to the en­tire value propo­si­tion,” says Hen­drik Geyser, ad­vi­sory cus­tomer leader at EY. “This con­cept that con­sumers have not reached this state of ra­tio­nal­ity through con­scious de­ci­sion is cru­cial be­cause as such they don’t know what they ex­pect and that makes it very dif­fi­cult to counter.” 2. PRICE AND QUAL­ITY ARE THE BIG­GEST I NFLUENCES ON THE PUR­CHASE: There is so much in­for­ma­tion avail­able that the trade- off between price and qual­ity is some­thing that can be done rel­a­tively quickly. While price has the big­gest in­flu­ence on the pur­chase, qual­ity – where what con­sumers want and know gives value for money – is close be­hind. Th­ese con­sumers are adept at re­search­ing best of­fers as well as com­par­ing, swap­ping or ex­chang­ing. There are ob­vi­ously a num­ber of cat-

Newspapers in English

Newspapers from South Africa

© PressReader. All rights reserved.