The string of IPO filings last week from consumer technology companies — @Affirm @Airbnb @DoorDash @Roblox @WishShopping — got me thinking about a question I’ve fielded frequently in the past 5 years:
“Isn’t consumer dead?”
5 reasons the answer is "no": https://nbt.substack.com/p/consumer-technology-is-alive-and
“Isn’t consumer dead?”
5 reasons the answer is "no": https://nbt.substack.com/p/consumer-technology-is-alive-and
1. Large categories of consumer spend need reinvention through technology.
Education, financial services, healthcare, housing, and many more areas are in need of a better consumer experience. This chart is a good place to start to think about which to prioritize:
Education, financial services, healthcare, housing, and many more areas are in need of a better consumer experience. This chart is a good place to start to think about which to prioritize:
2. Behavior shifts are driving the adoption of new products and services.
As my friend @rebeccakaden puts it:
"Consumer behavior is never done or satisfied."
As my friend @rebeccakaden puts it:
"Consumer behavior is never done or satisfied."
3. Covid-19 has been an accelerant for consumer technology startups.
Look at the fast-forwarding of eCommerce as just one example.
Look at the fast-forwarding of eCommerce as just one example.
4. Consumer and enterprise are increasingly blurring together.
I wrote an essay on this back in May: https://nbt.substack.com/p/consumer-and-enterprise
I wrote an essay on this back in May: https://nbt.substack.com/p/consumer-and-enterprise
5. The massive recent success stories illustrate the above four points.
The next big thing in consumer may look quite different from that of the prior generation, but opportunities abound.
And the past week should serve as a great reminder of that for any remaining skeptics.
The next big thing in consumer may look quite different from that of the prior generation, but opportunities abound.
And the past week should serve as a great reminder of that for any remaining skeptics.