With this shift in consumer mindset and their expectations, companies had a choice to make: continue doing business the current way (because if it isn't broken, why fix it?) or get ahead of the curve and innovate around convenience.
Blockbuster is a prime example of failing due to complacency. Staying comfortable with their success caused Blockbuster to miss out on a huge opportunity to improve their customers experience.
The former CEO of Blockbuster, John Antioco met with the founder of Netflix in 2010 to discuss Netflix running Blockbuster videos online. Antioco denied the offer calling the idea of online streaming a ‘niche business’. Of course Netflix didn't let this stop them, and they optimized for user experience — providing a more convenient option than visiting your local blockbuster store.
Companies that constantly strategize on optimizing to improve user experience will be the last ones standing as the era of convenience continue to become more demanding.
Take Stockwell Ai for example, a startup that have convenience baked into their product.
Imagine a fancy vending machine stocked with all of the relevant things you need in the current space you’re in. If you’re at the gym you can find water bottles, headbands, socks and more conveniently available for purchase inside the Stockwell ‘store’. This company does a fantastic job of understanding consumer mindset and meeting their customers where they’re at to provide an exceptional customer experience.