To understand the overarching factors at play in shaping today’s and tomorrow’s business and consumer landscape, it is important to understand the broader macroeconomic environment while detecting emerging signals of change. Understanding how these elements may combine to alter the consumer, retail and business environment can give companies a more informed and considered base to make decisions about the future.
In the Middle-East there are drivers of change that will be vital for organizations to understand moving forward. Governments in this region have invested in many “Future focused” initiatives and programs and with deep pockets are willing to invest and embrace opportunities in a future where their traditional oil rich resources may not be such an important factor.
This historical and current financial resource in the region has installed a (spread/dotted) framework of infrastructure and technology that should enable the swift adoption of technology for consumers, retailers and consumer facing brands. Whether this technology can help combat increasingly challenging environmental and resource challenges is often a topic of debate and when you factor in what many view as a clash of emerging progressive and traditional attitudes moving forward, deep consideration may benefit companies navigating their way forward.
These are just a few examples of the broader change agents at play and factors like legislation, trade agreements and evolving consumer attitudes are just some of the factors that companies should consider when formulating growth strategies.
There are a myriad of examples of companies and industries that have been blindsided by change they didn’t see coming. Conversely, there are a growing number of examples of organizations reaping the rewards of future-driven thinking. Innovations in research and analytics in recent years have brought about new capabilities to leverage tools like big data modelling, consumer groups and customized research to give greater direction and feedback loops to guide business and investment decisions. Such approaches are not about prediction nor do they guarantee success, but they do lay the foundations for more thorough and rigorous decisions to mitigate risk and unlock future growth.
For deeper insights on what the future might hold for your business, download the What’s Next Starts Now whitepaper or infographic for summary or view webinar playback for local insights from our other regions – Africa, Asia Pacific, East Europe and Latin America.