INNOVATION
Why Tech Is The New FMCG
By Senorine Wasike
Organization are innovating
around technology
A few decades ago, most companies relied
on operation excellence, that is, their
ability to do what they do best. With
increased competition from industry
rivals, operational excellence is not
sustainable.
Companies must differentiate themselves
by finding ways through which they can
meet consumer needs better than their
rivals. Through innovation excellence
companies can leverage new technologies
and increase their growth on the long
term.
A
ccording to the mobile economy
report (GSMA, 2018), mobile
internet users had grown to over 3
billion by 2017. This growth is impacting
how users interact with technology across
the globe.
Research continues to support this
accelerated growth in mobile penetration
for instance in 2018 Lori Lewis and
Chadd Callahan of Cumulus Media
released infographics that showed how
media is consumed in a minute across the
globe.
In just 60 seconds, 187 million emails and
18 million text messages are sent out. There
are 4.3 million YouTube views, 3.7 million
google searches, 266,000 movies are
watched on Netflix, 38 million messages
shared on Whatssap, over 2 million snaps
and insta photos and just under 1 million
people are online shopping.
With over 66% of all global internet
users accessing the internet through
mobile phones, it is fair to say that we
are currently consuming technology more
than anything else, more than we eat and
sleep. Is technology the new Fast Moving
Consumer Goods (FMCG)?
There is an increasing need to stay pow-
ered up and connected to the ‘world’ even
in the middle of the night. We are even
taking our phones to the washroom. This
irrational fear of being without your mo-
bile phone or being unable to use your
phone for some reason, such as the ab-
sence of a signal or running out of min-
utes or battery power is called Nomopho-
bia. This new lifestyle disorder, points to
the power of technology and how we are
increasingly consuming it.
16
MAL28/19 ISSUE
Nomophobia is becoming a
norm
How often do you check your phone?
Research shows that on average, people
check their phones every ten minutes.
There is an increasing need to stay
powered up and connected to the ‘world’
even in the middle of the night. We are
even taking our phones to the washroom.
This irrational fear of being without your
mobile phone or being unable to use your
phone for some reason, such as the absence
of a signal or running out of minutes or
battery power is called Nomophobia. This
new lifestyle disorder, points to the power
of technology and how we are increasingly
consuming it.
Technology Innovations is
changing how companies
innovate
Proliferation of smartphones, cloud
computing and the internet has enabled
companies to build products and services
almost overnight. Unlike in the past
where it took decades for companies to
build brands, technology companies are
breaking through faster than expected and
are claiming their space among giants.
Example of companies that have broken
through include Uber, Airbnb, Instagram,
Snapchat and Spotify.
A good example is the financial sector
where banks have moved from brick and
mortar model to virtual banking. Banks
are adopting technology and changing
how people access and use money. Fintech
is the future of banking.
Ease and Convenience
Technology is changing how we learn,
communicate, entertain, access health
care, bank, share memories and plan our
With over 66% of all
global internet users
accessing the inter-
net through mobile
phones, it is fair to
say that we are cur-
rently consuming
technology more
than anything else,
more than we eat &
sleep. Is technology
the new Fast Mov-
ing Consumer Goods
(FMCG)?
lives. Through technology there is access
to online education through distance
learning or online book stores, instant
communication through apps such as
SMS and Whatsapp, music and movie
streaming through online platforms such
as Netflix, high tech screening machines,
mobile or internet banking, photo sharing
and archiving through cloud and daily
organizers such as use of Google calendar.
Bringing it all together
Technology presents exciting, innovative
products and learning opportunities
and has literally changed how we live. If
technology was a person I would describe
him just like Steve Job would; as the
one that cannot be ignored, the one that
changes things and pushes the human race
forward. The crazy but genius one. The one
that changes the world.
Senorine Wasike is an innovation
champion with over 10 years’
experience in FMCG, currently
working
as
the
Innovation
Commercialization
Manager
at
Kenya Breweries Limited. You can
commune with her on this or related
matters via email at: Senorine.
[email protected]
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