Build for Change

The Customer Now Rules

In the past, companies ran their own marketplace activities and entirely controlled their products and services. Today, customers rule. Numerous factors have aligned to put the emerging generation of consumers in charge, most notably the power of technology and the Internet, which provide comprehensive product data instantly and enable consumers to buy anything any time, and to comment on everything all the time.

The millennial generation – also called generation Y – runs commerce today. This generation followed generation X, which in turn followed the baby boomers. Members of gen Y grew up in a fully digital world. They are becoming the world’s biggest consumer group. They have huge expectations, are extremely demanding and have little patience for companies that displease them. If generation Y doesn’t want what you offer, doesn’t like how you operate or feels negative about your products or services, its consumers will quickly call public attention to every failing. Often this means enthusiastically wreaking havoc on the organizations they target.

Many victims could appear under that “rest in peace” sign, including Circuit City and Borders...