Oct 16, 2007

The Time Value of Face to Face

I was having coffee with my Opa (Grandpa in German) today and he said something that made me think.. "I like to go and do my banking in person, it lets me get out of the house" he said. Instead of banking by phone, or on the net, he values face to face interaction.Why? Because, in his day to day life, it's more scarce.

As our population ages, face to face conversations will gain added importance and it is this inevitable change in mindset that will make these interactions even more valuable.

The restraints that govern many peoples lives, such as time and effort level, shift in importance as people age and move into retirement. As consumers move away from the life guiding idea that they currently live in, such as "i don't have enough time in the day to do what i need to do" and move into the mindset that my Opa has, face to face interactions gain value. When time is less of an issue and social interaction gains importance, there is an opportunity to take advantage of the shift.

Does your business value social interaction? Would my Opa schedule his day around visiting you?

No comments: