Industry Insights: Current Consumer Habits Impacting Today’s Business

By Scott McLaren - CMO Feb 13, 2019 10:00:00 AM

 

self-driving

Our thought leaders weigh in on trends currently impacting the auto, wireless, and retail industries.


2018 brought on a whirlwind of new trends across a number of industries—many of which were driven by evolving consumer behaviors. Always on the move, our team stayed on top of these latest trends to keep our clients in the loop. What did we dig up? Let’s take a look.

Creature comforts and autonomous adjustments

Yes, you read that right. In an article on Automoblog.net, we shared auto industry trends emerging in the U.S., Japan, and Germany—including car seats for dogs. Americans are spending with their furry friends in mind, the Japanese are seeking vehicles that replicate their living rooms, and German consumers are looking for cars with advanced technology.

Another hot topic? Autonomous vehicles. In recent pieces for Mashable and Robotics Business Review, we focused on major roadblocks for autonomous vehicle advancement. Not only will government legislation play a role in autonomous progress, but a driverless future also raises questions regarding insurance liability. Who is responsible in an autonomous accident? The dealer? The driver? The manufacturer? The car itself? These are all important considerations that will require multiple industries and sectors to adapt.

Device damage and dangerous demographics

Come on, admit it: you’ve had at least one incident where your phone either got damaged or maybe even completely destroyed. Well, you’re not the only one—but are you more accident prone than others? Fortegra VP of Wireless Jon Mikow shared an article with Business2Community on the three demographics that need device protection the most: men, teenagers, and sports fans. How can the industry shift to accommodate these consumer groups? Carriers will need to up their warranty protection game to help these at-risk demos keep their devices safe and sound.

The digital retail experience

As consumer habits drive today’s trends, companies are having to quickly adjust to keep up with the competition and stay relevant—particularly in retail. In a recent article in Retail IT Insights, Fortegra VP of Warranty Steve Davidson shares four steps retailers should consider in order to implement an updated digital experience without losing the personal touch. Some of his tips include incorporating research early on, ramping up social media engagement, customizing messaging, and closing purchases with additional value-adds.

For more insight from our thought leaders, check out our industry insights on how technology is impacting the insurance industry!

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Fortegra Weekly covers the insurance and warranty world so you don’t have to. Check us out each week to hear about tips and trends that can help protect you from everyday mishaps all year round.