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The business of consumer empowerment

Posted on: Friday 8th of April 2011

What does the phrase ‘consumer empowerment’ mean to you?

Depending who you are it may seem like a threat, or ‘about time too’; or a ‘trend’ to be observed. Right now however, very few people see it as a business opportunity.

That needs to change, because empowering consumers is probably one of the biggest opportunities for innovation and growth we’ve seen for decades. We (Ctrl-Shift) have just published a report which begins to outline the scale of this opportunity.

Called ‘Personal Information Management Services – A Market Poised to Disrupt‘, the report makes this simple observation: everyone wants to make better decisions in their lives, and everyone wants to implement these decisions better.

Right now, nobody is helping individuals do this. But that’s changing for a very simple reason. Making and implementing decisions are information-intensive activities. Information is becoming a tool in the hands of the individual; it’s now possible to create and build businesses and services that help individuals gather and manage the information they need to manage their lives better.

This business of empowering consumers is set to become one of the biggest industries in the world, for another very simple reason. We all want to make and implement better decisions, across all our activities, all products and services, all life stages, and so on.

This is an opportunity too big to miss.

Consumer empowerment is not some vague abstract ‘trend’. It’s a business opportunity.

 

Alan Mitchell