Total Customer Engagement
Consumer behaviour changes in sophistication as controllable and uncontrollable influences impact (positively or negatively) on both an emotional level and factual position with regard to personal disposable income. Controllable influences are those that the individual consumer can acquiesce to or choose to exert control over, for example, if all other things remain equal, shopping around for a lower credit interest rate can have a positive impact on
disposable income whilst just accepting a current provider's service could and almost certainly will have a negative impact on said income. Uncontrollable influences are those where little, if any, individual control can be exerted, for example, upward changes in taxation at local and national level or macro political events. Upward changes in taxation will almost certainly impact negatively on disposable income, whilst a macro political event may or may not impact an individual's disposable income negatively. In the US / China trade war some people (in both the US & China) have suffered job loss and income reduction due to the tariff increases. Whilst some jobs will not be impacted, price rises on tariffed goods will limit consumer choice for some people, though consumers can choose not to spend (tighten the belt) on non-essential items but higher cost essential items negatively impacts disposable income and can force some consumers to select different products, probably of reduced quality in an attempt to maintain a position of parity. In the UK there has been a softening of consumer confidence and a reduction in retail spending due to Brexit uncertainty; consumers are shunning non-essential spending in favour of saving - this is a challenge for business.
Technological advances and the wider variety of products available today provides consumers with an ever increasing choice. If we compare today's consumer market and consumer behaviour to the past, we find that historically, consumers bought purely on 'needs' but this was found to be unsustainable for the World's national economies due to slow growth. To improve growth and meet the macro economic requirements for job creation it was essential that companies could expand which required significant sales increase in products and services which is when companies and marketeers changed their business strategy in order to alter consumer behaviour from 'needs' to 'wants'. Due to the impact of climate change, the way consumers now behave in the product / service acquisition process has moved on from 'wants' to a more complex and intellectual product / service acquisition model that is fundamentally different in order to meet their changing demands and the increasing influence of climate change. We have researched the changes in consumer behaviour and based on the empirical evidence, the model that is rapidly developing is one of
'wants + needs + environmental sustainability' from which we have created a proven hypothesis that we term Total Customer Engagement (TCE). If any one of the 3 elements is missing, then business is not fully engaging with the customer and is missing opportunity.
Whilst there are variances between regions of the World on the seriousness of climate change, the common position in each region of the World is that the majority of people believe that climate change is harming people now. The latest European Commission climate change survey findings are:
92% of EU citizens see climate change as a serious problem and 74% see it as a "very serious" problem.
Nearly nine in ten believe it is important for their national government to set targets to increase renewable energy use by 2030 (89%) and provide support for improving energy efficiency by 2030 (88%).
The vast majority (79%) also agree that more public financial support should be given to clean energies, even if it means reducing fossil fuel subsidies.
The Ecocert Certification helps businesses move towards a Total Customer Engagement model, please sign up today and take a positive stand for your business and your customers.