The consumer is king

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supermarkets? I think technology is taking us a step closer to a situation where all the complex banking, investment and insurance products can be sold under the same roof. The level of customer data available with various institutions is on the rise. Data mining and analytical tools are being used to predict customer behaviour and to offer him a suitable product at the time when he requires it most.

The present state of our economy and the society at large is also supportive for the creation of large financial powerhouses. This may lead to a stage of consolidation, which will lead towards formation of large and dominant players in the industry who will offer various options to the customer, and the customer will be spoilt for choice.

Can we see the emergence of supermarkets that will vend everything from clothes to vegetables, to travel plans to banking/savings options to insurance products? Probably yes, but not in the immediate future.