What’s fueling the growth of digital goods and services? Consumer trends and opportunities

A part of the Future of Consumer industry series on That Makes Cents

Hear from industry experts as they discuss the rise of digital goods and services and its implication on consumer companies. In this episode, we feature a guest speaker from the Ford Motor Company.

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The growth of digital goods and services

From streaming platforms to health and fitness apps that personalize to their users, consumers today have access to a wide array of digital offerings. As per Deloitte’s Global Consumer Tracker, digital goods and services represent an estimated 3% of the US consumer’s wallet. While this could be humble beginnings, the increasing adoption of AI, cloud convergence, and other technologies are fueling the exponential growth of digital offerings. How should companies capitalize on this rising trend?

Tune in to this episode as our host, Bobby Stephens, along with Jen Brace, chief futurist, Ford Motor Company, and Alisa Locricchio, senior manager with Deloitte Consulting, discuss the growth of digital goods and services and the opportunities that lie ahead for consumer companies.

It starts by, of course, enabling some [digital offerings] in the vehicle … enabling those connections, having a vehicle that is connected to the cloud so that we can do things like push software updates digitally to a customer. And by doing that, what it also enables us to do is provide new experiences and features to a customer. So, it creates a pipeline when it comes to the way that we can introduce new goods and services to our customers.

— Jen Brace, chief futurist, Ford Motor Company

Tune in to this series to hear from industry luminaries discussing the findings of an extensive yearlong study on the future of the consumer industry. From the forces shaping the industry in the next decade to their implications on markets, models, and mechanics, we discuss it all. Our next episode in this series will delve into industry convergence and the rise of “capability as a service.” Stay tuned!

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Consumers are using their dollars to effect the change they want to see in the world. They’re buying into better by choosing brands that align with their values. This podcast features experts with insights to help you gain a deeper understanding of consumers and shape the future of the industry.

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