12 Mar Conscious Customers
While futurists are a-buzz about AI and Quantum Computing, enlightened business leaders also wonder about the future they are creating for their “Conscious Customer” children and grandchildren.
The fashion industry is a predictor of what will motivate these Conscious Customers across industries, as customers, and employees or partners.
“Fast fashion” is being disrupted by resale. At $24 Billion in 2019, it is projected to double by 2023. Resale isn’t a new option. Why the renaissance? Presumably, it is a reaction to “fast fashion’s” exploitative labor practices, access to better quality collectible design from the past, and reducing waste.
The “fast fashion” formula is a model used by almost every industry.
Reacting to the latest trend, competitors create more for less as quickly as possible, until the boom busts. This formula causes the business uncertainty and risks – exactly what management science should preempt.
Enlightened business leaders appreciate thinking holistically, conscious of the interests of customers, employees, and partners.
In other industries, enlightened leaders will recognize that conscious customers are repulsed by the waste produced by the “more for less” boom to bust business model:
- More advertising is less effective,
- More cheap consumables are overwhelming land fills,
- More pharmaceuticals are causing more side effect health problems,
- More apps are slowing productivity,
- More cars increasing traffic and pollution.
Conscious business management intentionally benefits many. When customers, employees, and partners all benefit a virtuous network effect is created and propels growth, efficiently.
Just as the resale market isn’t new, neither is conscious business management. In our past experience, benefitting many has had a multiplier effect on business growth. This business wisdom has been forgotten during the past few decades when technologically smart business management was “un-conscious,” resulting in the un-anticipated consequences of the 2008 financial collapse and the 2017 Equifax breach, among other violations of personal trust.
Enlightened leaders recognize that business benefits from conscious customers. They will develop conscious business management talent to identify opportunities to benefit many – customers, employees, and partners – and collect the right data to measure the multiplier effect across the market.
COMRADITY CO-Lab is an oasis from the crisis du jour, for enlightened leaders to collaborate with their customers, employees, and partners (catalysts, researchers, makers) for a holistic perspective. Now, we are curating programming for a more structured “Conscious Business Growth Accelerator” to develop the skills to implement and gather the information to measure the multiplier effect of benefitting many. This is an ambitious program. So please call Jim and I to discuss what interests you most at 203-883-9255