the multidimensional customer - kpmg · the multidimensional customer peter hughes. partner and...

The multidimensional customerPeter Hughes. Partner and National Digital Customer LeadKPMG in Canada

www.kpmg.ca/customer-insights

2© 2018 KPMG LLP, a Canadian limited liability partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. The KPMG name and logo are registered trademarks or trademarks of KPMG International.

Hi, I’m Pete. Let’s kick this off.Peter HughesKPMG Partner

Lead: Customer Digital [email protected]


What I want to talk about today

1 A perfect storm The age

of the customer

2 Customer insights program

3

3

Wake up call4

© 2018 KPMG LLP, a Canadian limited liability partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. The KPMG name and logo are registered trademarks or trademarks of KPMG International.


A perfect storm

4

Geographic and Geopolitical

Demographic

Technological

© 2018 KPMG LLP, a Canadian limited liability partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. The KPMG name and logo are registered trademarks or trademarks of KPMG International.


5

The pace of change has never been this fast, yet it will never be this slow again – Justin Trudeau

6

Document Classification: KPMG Confidential

© 2018 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved.

Cognitive expertadvisors

Quantum computing

Smart dust

Machine learning

Digital twin

Virtual assistants

Conversational user interfaces

Smart robots

Drones

Autonomous vehicles

Artificial General Intelligence

Augmented Data Discovery

Neuromorphic hardware

Blockchain

IoT platform

Software defined security

Edge computing

5G

Smartcity

Serverless PaaS

Augmented reality

Human augmentation

Volumetric displays

4D printing

Connected home

Nanotubeelectronics

Virtual reality

Brain Computer Interface

Cognitive computing

3D printing

Artificial intelligence

Impact

Transformational

High

Moderate

Immersive experience, AI & Digital platforms

Digital platforms

Immersive experience

…and it is definitely coming at us fast.

SOURCE: Gartner


The consumer is evolving

There aremore people,

living longer and becoming wealthier

1bn Middle class consumers in China by 2030

Indian household income

segments are increasing — by

60%

2.5bnMillennials

Globally

1bn People aged

over 60 globally

People are spending more, but they are also

spending differently

Technology is changing

people’s behavior

Seniors have the

highest disposable

income

78%of Millennials

prefer to spend on experience over

assets

Best experiences

are now the norm for expectations

8 SecondsThe attention span of a human is now less than

a that of a goldfish

87%Of people use

between 2 and 3 devices

80% of the global population

will own a smartphone in

2020

90%Customers say buying

decisions are influenced by online reviews

61%Are willing to borrow

or share products rather than buy new

ones

Source: KPMG International, Global Customer Insights Program


Understanding the commonalityBaby Boomers1946 – 1965

Generation XOr Gen X’ers

1966 – 1981

Generation Y or Millennials

1982 – 2001 Generation ZPost 2001


Understanding the commonality

Generation Y or Millennials

1982 – 2001


The most relevant brands to the Chinese Consumer

1 1Alipay Alipay

2 2WeChat Android

3 3Android WeChat

4 4IKEA Huawei

5 5Apple Microsoft

6 6Nike Taobao

7 7Estee Lauder Intel

8 8BMW Meituan Dianping

9 9Marriott QQ

10 10NetEase Cloud Music Tmall

12 11Huawei Apple

13 13Intel NetEase Cloud Music

18 22Tmall Estee Lauder

19 37Microsoft IKEA

28 44QQ Nike

35 46Taobao BMW

40 ---Meituan Dianping Marriott

2017 Ranking 2018 Ranking


An do it fast

8 seconds:The attention span of a millennial

9 seconds:The attention span of a goldfishSource: Time


Born in England

70 Years Old

Married with 2 Kids

Very Affluent

Prominent and Well Known

Both Princes’


14© 2018 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved

Me, my life, my wallet –second edition


MymotivationCharacteristics that drive behavior and expectations.

MywatchHow we balance the constraints of time and how that changes across life events.

MyattentionWays we direct our attention and focus.

MywalletHow we adjust our share of wallet across life events.

MyconnectionHow we connect to devices, information and each other

Introducing the 5 MysUnderstanding the complex drivers of human decision making has become exponentially more important as the disruption of the digital age accelerates. To create a meaningful and personalized customer experience, organizations need to gain a multidimensional view of their customer.



Life event drifts

Gen x

Boomers

Millennials

FroomersDouble Daycare

Yuppies

Slackers

Tweens The Layover

Childhood Young Adult Young Family Mature Family Empty Nesters Retirement

HS grad

College grad First

jobFirst housepurchase

First childIn college

All childrengraduatecollege Last child leaves home

RetireBorn

Marriage

First child


Customer-centric Ecosystem: industry specific

Consumer & Retail

Media & TelecomHealthcare

Retail Banking

Insurance

Real EstateAutomotive

Hospitality


My life in data

An in-depth look at theCanadian customer

Me, my Canadian life,my wallet


84% of Canadians would rather

shop in store Would rather lose their wallet

than phone57%

Only 4% of Canadians use voice

platforms to shop

43%

74%

25%


Permanent Residents from 2006 to 2015Largest Foreign Born Groups in Canada

1st

2nd

SOURCE: Government of Canada 2016 Canadian Census


It’s time for a

wake up call


AMBITION

PRIORITIES

URGENCY

If you have any questions, please contact us at [email protected]

Read the report:• Canadian report – kpmg.ca/customer-insights• Global report – kpmg.com/knowyourcustomer

Peter Hughes

[email protected]

Hughsey out.

kpmg.ca

The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.

© 2018 KPMG LLP, a Canadian limited liability partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. 18721

The KPMG name and logo are registered trademarks or trademarks of KPMG International.

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