Consumers rule in the Now Economy

In a world where Amazon rules and a new fintech is popping up every day to take a bite out of credit unions’ business, we must adapt to satisfy member needs instantly and at scale.

Digital growth has morphed how consumers order, receive, and pay for goods and services, developing the Now Economy. The ability to order virtually anything, anywhere, at any time has placed immediacy as a priority for most businesses. Take a look at fast couture fashion: Major fashion houses blanket social media during their shows and make their collections available online for immediate purchase.

Consumers’ rising delivery expectations in the Now Economy will accelerate emerging technologies, such as robots and drones. Drones make instant gratification a nearer reality by delivering more products faster, even to remote locations. For merchants, drones promise to increase efficiency and reduce costs.

 

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