Stefan Knapp | Finans.dk | 20 june 2016
Read the full article in Danish
PA business transformation expert, Stefan Knapp, has had a byline published on Finans.dk, discussing how the ‘uberfication of things’ affects competition among companies. Stefan provides the example of uberfication with Finnish food delivery app and start-up company Wolt that has gained more than DKK 80 million in initial capital. The business concept is based on communication between customer and restaurants – enabling customers to see how far away their delivery is.
Stefan says: “The combination of growing start-up environments and a voracious appetite for new concepts provide great growth conditions for digitisation and mobility, in which one can be the customer, producer and supplier. The competition situation is characterised by more market players, explosive growth and massive volatility.”
According to Stefan, established players need to understand this new customer logic. The younger generation is no longer loyal to any specific company and they happily shop around to get a better customer experience, and this makes them first movers within their network. So the classic competitor analysis is out of date. New competitors come out of nowhere and are able to kickstart new trends and accommodate customer needs that established players struggle to match.
“However, new players have a limited life span that is dependent on their ability to establish their business and take charge of their organisation, marketing, logistics and operations as quickly and efficiently as possible,” concludes Stefan.
Stefan Knapp is a business transformation expert at PA Consulting Group