By The rise of digital connectivity, fintech, e-commerce, the creator economy, and artificial intelligence has effectively dismantled traditional information asymmetry, transferring market power directly from brands to buyers.
Speaking at the fourth edition of the MediaConsortium Conference and Awards (MediaConsortium 4.0), with the theme: “The Value Shift: Strategies for the New Market Reality in the Age of the Empowered Consumer”, speakers harped on how market power has shifted from brands to the consumer.
Delivering the keynote address, President of the National Institute of Marketing of Nigeria (NIMN), Dr. Bolajoko Bayo-Ajayi, noted that traditional marketing control has effectively collapsed adding that today’s modern consumer as “the most dangerous customer”,
Bayo-Ajayi who spoke on the topic, “The Day the Customer Took the Wheel: The Value Shift: What Happens When the Consumer No Longer Needs the Marketer to Make the Choice?”, stated that the consumer is fully informed, digitally empowered, and quietly takes her purchasing power elsewhere when brands fail to deliver genuine value.
Represented by Oluwafemi Adeniba, he said that while companies retain control over their paid advertising, they no longer dictate the surrounding narrative or customer dialogue
“In this transformed landscape, treating consumers as merely “price-sensitive” is a critical miscalculation; particularly in high-aspiration markets like Nigeria, buyers are inherently value-sensitive, constantly weighing the overall return against what they must give up under economic pressure.”
While exploring the operational realities of the empowered consumer, Head of Digital Media at Glo, Yinka Opadere noted the one-way broadcast messaging is dead, urging corporate leaders to redesign engagement models around transparency, agility, and authentic value delivery in fast-moving digital ecosystems.
According to him, to survive this shift, marketers must fundamentally alter their core orientation, pivoting from asking “What are we selling?” to addressing “What problem are you solving for me?”
He added that true commercial success now relies on delivering real, verifiable outcomes across every customer touchpoint rather than relying on clever promises.
Opadare further explained that modern market value is built at the intersection of relevance, trust, seamless experience, and tangible results, the foundational elements required to win over today’s empowered consumer.
National Marketing Coordinator, Oriflame Cosmetics Limited, Victor Okafor, also shared his thought on changing consumer experience and its effects on marketing, while the Managging Director, Digisplash Limited, Mr Richard Salvador-Adebayo, noted “we are now in an attention economy and brands must do everything to get the attention of the consumers and keep it.”
According to him, brands are now competing with everyone that can get the consumers’ attention, irrespective of the size of budget and how big the channels are.
During a panel session moderated by the Chief Executive, BrandXchange & Convener, Consumers Value Awards, Mr Akonte Ekine, experts shared insights on the brand-consumer behaviour.
Head of Marketing at AXA Mansard, Olusesan Ogunyooye shared insights on maintaining consumer trust and organisational resilience in financial services while Director of Marketing at StarTimes, Oke Umurhowho, provided practical perspectives on changing media consumption habits and digital content engagement.
Director of Partnership, Grants Management and Innovations, Lagos State Environmental Protection Agency, Olabisi Shonibare, explained efforts of the Lagos State Government to make the state habitable for all consumers.
Co-Publisher of MediaConsortium Magazine, Mr Godwin Anyebe, in a welcome address said: “For decades, market power resided predominantly on the side of supply. Brands dictated narratives, set engagement terms, and controlled distribution channels,” he stated in his opening remarks.”
According to him, today information accessibility, digital connectivity, and heightened economic consciousness have flipped that historic model.
He added: “Today’s consumer is informed, discerning, connected, and uncompromising. Navigating this new reality requires more than incremental adjustments-it demands bold, forward-looking strategies, deep cross-sector collaboration, and an unwavering commitment to customer-centric innovation.”
