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Covid-19 is the biggest crisis of the 21st century, so far, and it has altered the course of life, therefore customer demand and need. Businesses need to be aware of shifts caused by the pandemic and they need to evolve, so as to provide solutions faster, better, and cheaper. How do the three attributes occur in consumer’s demand?
What do customers demand?
Faster – reduced waiting them for services both offline and online, quick answers to pain points;
Better – personalized and sustainable goods of high quality, experiences focused on security and care;
Cheaper – flexible payment options, digital alternatives to replace physical offices, eliminating locked contracts.
Some of the biggest companies of today have been founded in recession, because they were able to listen and understand consumers, amongst them are Netflix, Airbnb and Paypal.
Stefan Erschwendner, one of the managing partners at Frontira, have defined the phenomena exquisitely:
“Being quick to respond during a recession is an opportunity to sneak ahead of the competition and to secure positive short and long term returns. if you were thinking of repositioning, the perfect time is now.”
There are brands who have already adjusted their offerings, such as Hyundai. Want to know how? Check out the report.
There are five steps to follow in order to become a company prepared for the future.
- Understand customer expectations
- Prioritize opportunity areas
- Design product & service innovations
- Build business models
- Scale ventures
We are present to guide you through the five steps by providing our insights, building strategy, and control execution. Are you interested? Don’t hesitate to contact us.
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About Frontira
Frontira is a Strategic Design firm that supports clients with smart thinking and doing. We define, build and scales digital businesses that create new growth for some of the leading companies in the world. We believe in using design principles and practices to guide strategy development and implementation toward innovative outcomes that benefit people and organizations alike.
Our teams are serving clients globally with a focus on financial services, telecommunication, pharma, and retail. Frontira is operating studios in Berlin, Budapest, Salzburg and works with an international expert network.