“As companies are expanding further into global markets, they are facing a new set of realities about consumer behavior,” says Alison Winter, co-founder and co-chair of Women Corporate Directors (WCD) and director of Nordstrom, Inc. “Traditional ideas about demographics, marketing and sales channels have been upended – and boards must stay abreast of these shifts to gauge corporate strategy.”
Trends in the global consumer landscape – and how board directors should respond to them – was a topic of this spring’s Global Institute hosted by WCD, an organization of more than 1,000 women board members in 17 countries around the world. In a panel hosted by Diane Brady, senior editor and content chief at Bloomberg Businessweek, participants discussed challenges and opportunities facing businesses seeking to reach global consumers.
“Several trends are emerging as game changers for companies,” says Ms. Winter. These include: