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Self servicing will reign supreme, unless you pay a fee for what we take for granted now.
When customers process their own transactions on line or in physical reality, any mistakes made, honest or not honest, will place the onus of responsibility back on to them.
The place of interaction between customer and service will be minimised with human interaction.
It can be cheaper to use Artificial Intelligence or other software to communicate with the customers. It implies a much less need to set up physical offices, shops and presence. Beware the commercial real estate industry!
Businesses earn more revenue by offering service for extra fees charged. This can be already seen in the contemporary arrangements of having to stack up so many frequent flyer points to be eligible to enter an airline lounge waiting for a flight.
There is no such thing as a free lunch to access the airline lounge - you already pay annual fees and in money to convert to points at a ridiculously low rate. It may feel free to you if your business or employer pays for your annu al credit card charges, airfare and reward points. Current frequent flyer credit cards on offer in the market require the holder to minimum spend within 3 months, thousands of expense money to be charged to the cards, before they are eligible for the promised many points.
So this premium service I cite above, as coming from airlines and participating credit card issuers, can be compared to the masses
having to pay extra charges for normal transactions in the future.
In Australia, I notice some elderly
people can be enjoying much needed social chats at the counter in supermarkets, post offices, newsagents and when physically pay their bills. The quality of their mental and social health can be negatively impacted if they cannot do this anymore. Would this group pay a fee to have this continued pleasure?
Even before the 21st century began, customers have sensed a deterioration of service when making complaints for poor or under performing service. Customers are put on hold for long periods on the phone before they get any commencement of any help.
Chatbots on apps want to help you, you have to write everything as if we cannot speak and then even a resolution to our problem is not forthcoming. In the near future, if I want to speak to a live human being to sort out problems regarding my purchase, I will have to pay an extra fee.
Will the price of goods and services be any better, when we have to self transact, self service and self manage? I do not reckon so - underlying reasons like the lack of labour, supply chain logistics, materials in short supply, the decreasing exchange value of currency and so forth will be cited as reasons.
If true, will these predictions cause a backlash in the mindsets of customers when dealing with providers?
Will new business oppprtunities be created to service customers who will pay brokers to help them?
Go reckon.
#yongkevthoughts
