Vantage point: Insights from cutting-edge research

Making every consumer delivery touch-point count; Global wage increase slow with India's growth pegged at 10 per cent

Making every consumer delivery touch-point count

A report titled ‘Dialogues on Delight: Customer experience trends in India’ by EY-CloudCherry offers an insight into how brands in India are developing their consumer experience (CX) strategies. Companies are looking at making every customer touch-point count for a positive and differentiated experience. Over 80 per cent of the CXOs interviewed believe that CX in India was worse (68 per cent) or far worse (13 per cent) than the best in the world. Only 16 per cent believed that CX in India was at par with the best in the world. CXOs believe there is room for improvement in CX across the entire customer journey, in pre-purchase, during purchase and post purchase phases. The top 3 CX areas where brands are focusing on are: listening to customers across all channels and building this back into CX re-design; providing a consistent experience across all channels; and utilising the power of word of mouth by leveraging CX as a focus area.

Global wage increase slow; India growth pegged at 10 per cent

A salary forecast report by the Hay Group division of Korn Ferry reveals that, adjusted for inflation, workers around the world are expected to see real wage increases of 2.3 per cent. In Asia, salaries are forecast to increase by 6.1 per cent — down 0.3 per cent from last year and 0.7 per cent from the year prior. Real wages are expected to rise by 4.3 per cent — the highest globally. India stands at 10.0 per cent, with real wages up by 4.8 per cent. The largest real wage increases are forecast in Vietnam (7.2 per cent), Thailand (5.6 per cent) and Indonesia (4.9 per cent). The biggest change in Asia is in China, where real wages increases are down nearly 2.5 per cent, from 6.3 per cent in 2016 to 4 per cent in 2017. Amer Haleem, country manager, productised services, Korn Ferry Hay Group says, “We expect salary hikes in India to be at the higher end of the range for entry level positions, given that our salaries are much lower at that level compared to most countries, even those within Asia”.

China, US show strong potential for electric vehicle sales growth

According to Accenture, improving car sales suggest strong potential for growth in electric vehicle (EV) sales in China and the United States (US). Accenture analysed 14 domestic markets — Brazil, Canada, China, France, Germany, India, Japan, the Netherlands, Norway, Russia, South Korea, Sweden, United Kingdom, and the US— to pinpoint the crucial distinctions that shape EV market attractiveness. The three markets of Brazil, India and Russia are classed as Hesitators by Accenture due to the small market size and an expected low growth rate. These markets are characterised by a lack of public charging infrastructure and low fuel prices, This makes EVs economically unattractive. For these markets, Accenture believes original equipment manufacturers should not yet make significant investments, but they should be regularly reevaluated because they will require high investment for a range of new capabilities such as  sales staff training and after sales enablement once they begin to see demand take off.