Every business needs to take periodically "the pulse" of its target audience: what are the trends? what is the mindset of the society? what are the social and cultural factors that will impinge on your activity? Some of the top tier keywords we think everyone should be monitoring are: "millennials", "sharing", "mobile". Recently, another concept that is a good example of the mobile era enabling yet another instance of creative disruption: "nownership". Why own something when you can share it or trade it with far lesser overhead?
Today we wanted to direct your attention to a post published on May 31st in Business World online. It allows you to grasp why sharing, trading and nownership not only make money but actually bring about the downfall of entrenched businesses such taxi services, hotel services or even fashion retail. Here is a paragraph from the BusinessWorld Online post that sums up well just how disruptive mobile technology can be:
"For Millennials -- the roughly 77 million Americans born between about 1980 and 2000 -- the allure of "no ownership" is moving beyond housing and cars. ...Battered by student loan debt and the Great Recession, Millennials place less emphasis on owning and more on sharing, bartering and trading to access coveted goods. These behaviors have propelled businesses such as car rental service Zipcar, taxi service Uber and home rental site Airbnb".
We recommend you read in full article here: Millennial 'NOwners' follow Uber with new fashion trading model
The post also notes that one of the emerging constants is the growing proportion of smartphone ownership and use. For any business owner this is a telling sign: you need a mobile strategy. First, you need a plan; secondly, you need an App. CashDoctor.Biz has a complete mobile strategy to help brick and morter and virtural owners alike develop their plan and implement it, insuring their clients are ahead of the competition improving their chances of success.