Wednesday, July 08, 2009

The Experience Economy of Mobility and Convergence

The Experience Economy specifically in the convergence and mobility (as in mobile based) sector shall gain new heights both from a continuous and dis-continuous innovation.

Why ? Purely because of the disruptive nature of just having more bandwidth on majority of the handsets across social strata.

Experience economy as defined is the orchestrated events made memorable to the consumers which collectively by in itself becomes a "product". Flashback to the Movie "Minority Report" in which Tom Cruise walks through a shopping mall and based on his iris scan, he gets beamed with relevant promotions within the vicinity that is specific to his profile and custom tuned to his liking.

Though I will not get into the super cool ingredients that may go into making this sci-fi happen today (as I am ignorant), I am fairly confident that a similar (diluted) experience can be achieved using the Mobile devices. Ability to ID the consumer through the device, Cloud Compute servers to crunch and store relevant Consumer Info (considering privacy), Relevance algorithms (similar to what is being used in NetFlix and Amazon) exists in one form or other. The missing ingredient was ubiquity of bandwidth on mobile devices.

Bandwidth hurdle being removed (3G, Bluetooth 2.0), the play will boil down to "What is the best impact provided during the time of maximum exposure ?". The time of maximum exposure is when the consumers is in your store or the shopping mall, browsing.

As arcane and cryptic as it sounds, there in lies the key for many new entrants and start-ups opening up new market categories. Each player can significantly differentiate themselves by choosing the right attributes to own.

Quantama is one of such start-ups creating a new category in the mobile proximity space for Organized Retail. Stay Tuned...

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