Consumer commerce has changed radically over the past half century. Today, abundant supply is chasing relatively scarce demand, and new technologies have empowered individuals, giving rise to a new breed of consumer. ""Consumer 3.0"" is firmly in control of the shopping landscape. To succeed in this environment, all companies in every industry need to be engaging customers online and meeting their expectations, though the expectations bar has never been set higher. The world of retailing is no longer built around products but around consumers.
It is critical in this environment that companies adopt a thoroughly customer-centric focus. Five principles can guide companies, pointing the way to strategies that captivate Customer 3.0 and turn the new market dynamics to competitive advantage. In this HBR webinar, Jeffrey Rayport explained the forces that have reshaped the consumer landscape and five principles that can help companies leverage the opportunities of the new reality.