We live in a connected, instantaneous world. Telcos deliver this to us in a convenient, pocket sized package. But despite selling some of the most desirable product sand services ever made, telcos are struggling to stay ahead of the rapid pace of change in the industry.
For years, telcos have operated with a “set it and forget it” mindset. The retail infrastructure and experiences that they established in the flip phone era have remained relatively untouched since then. But while many telcos have sat static, there have been dramatic changes to a key element of their business -their customers.
The world’s two newest generations, Generation Z and Alpha, have entered the picture. More tech-savvy than any generation before them, the Z’s and Alphas have lived their entire lives online – and they’re ready for the physical world to get connected too.
To stay relevant, telcos will need to respond in a big way, and come up with a plan to stay ahead of the game.