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Me, my life, my wallet (Edition 1)

Me, my life, my wallet (Edition 1)

A new way of navigating the evolving consumer.

Paul Howes

National Managing Partner, KPMG Enterprise

KPMG Australia


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Consumer insights

Customer Insights

KPMG International’s groundbreaking Customer Insights program identifies the complex drivers of choice that open and close the customer wallet. It is supported with fresh insights on how the seismic influences of continued technological disruption, erratic socio-political and economic shifts, and enhanced mobility are upending fundamental beliefs around what drives consumer behaviour.

Me, my life, my wallet draws on an in-depth body of research, combining trends analysis of social, technological, economic and geopolitical data; ethnographic interviews with consumers on four continents; and a proprietary quantitative survey of consumers in China, India, the UK and the US. The detailed insights explored over the course of this report offer insight into the technologically powered world of today through consumers’ own words, sentiment and actions.

Highlights of the report include:

The Five Mys

Through a multi-dimensional lens called the ‘Five Mys’, businesses gain access to predictive insights that navigate the complexity of consumer decision making. The Five Mys include:

  • My Motivation,
  • My Attention,
  • My Connection, 
  • My Watch and 
  • My Wallet. 

Each of the Five Mys in isolation tells only part of the story: together they provide companies with a clear picture of the collective influences on today’s consumer and how those affect decisions, preferences, choices and spending.

The Five Mys

Customer Wallet

Understanding the forces which open and close the customer wallet means understanding the customer – intimately across a totality of factors which shape patterns of behaviour. Why and how consumers spend is becoming more complex as is the interrelationship between income, spending, saving and borrowing.

Generational Surfing

Business have historically used age to predict customer behaviour. KPMG International introduced ‘Generational Surfing’ to present a new mindset for understanding how life stages and events drift among generations and how those changes hold answers that can help businesses anticipate needs and preferences.

Baby Boomer Echo Effect

Our study found Millennials are influencing their Baby Boomer parents – and Baby Boomer parents are influencing their Millennial children. This is what we call the ‘Western Baby Boomer Echo Effect’.

Country-specific findings

Our report looks at emerging trends around the globe. For example:

  • US Emerging Themes: High student debt and depressed wages belie the tech explosion.
  • UK Emerging Themes: Rapid tech adoptions and shifts toward a cashless economy have given rise to a truly digital consumer.
  • India Emerging Themes: A Millennial heavy population and rapid mobile adoption lay the foundation of a digital economy.
  • China Emerging Themes: A growing middle class and ubiquitous tech platforms have given rise to the digital consumer.

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