I had the opportunity to spend a couple of days attending the 49th annual Society of Insurance Research Conference in Charlotte, North Carolina. Here are four big takeaways I gleaned from the conversations and presentations I attended.
If you have ever researched a potential purchase online, you might be familiar with the never-ending rabbit hole of consumer reviews and online discussion boards. However, access to relevant peer feedback was not always the norm it is today. Consumers longed to hear from each other about what works and why. Almost overnight the online community of sharing was born.
Sustainability efforts used to be optional for large companies. In Q1 2019 it was the new competitive landscapes for retail companies with high shipping volume. Many businesses are attempting to offset their carbon footprint and are beginning to realize the stakes for brand equity.
Healthcare was all about self-care in Q1 of 2019. As mental health concerns have become normalized over the last few years, social media posts have ramped up, with many using mediums like Twitter to share various self-care strategies.
Intelligent consumers are holding companies to the environmental standards they claim to have. The emergence of #greenwashing has given a voice to those who expect institutions to be forward-thinking and sustainable.
In Q1 2019, the largest consumer products companies learned that the voice of the customer is powerful and can easily disrupt or influence market trends. Environmentally conscious buyers are willing to forego thrifting if they know their favorite brands are producing sustainably.
Millennials view healthcare from a different lens than prior generations. Health providers and caretakers need to be equipped to meet the concerns of a demanding generation who expect better preventive care than their predecessors.