A new report projects 10 years out and reveals three fundamental principles that are shaping tomorrow’s consumer packaged goods and retail industries: trust, influence and personalization. In a preview of its 2017 Global Future Consumer study, A.T. Kearney predicts the death of the scale economy that focuses on catering to affluence in favor of one driven by the influence of industry stakeholders, particularly by the hyper-connectivity of the younger generations.
“The ‘mass’ market is over, for all intents and purposes,” said Greg Portell, A.T. Kearney consumer & retail practice leader for the Americas. “Embracing trust, influence and personalization as the new commercial mantra for success will be key for all brands and retailers, global and local, in the future.”
The Global Future Consumer study incorporates insights about the future from six consumer generations: the Silent Generation (1928-1945), Baby Boomers (1946-1964), Generation X (1965-1980), Millennials (1981-1997) and Generation Z (1998-2016). It notes that for the first time in history, 2027 will see six generations making up the consumer market, with dramatic upheaval expected across brands and retailers.
The largest of these six generations will…