So you want to learn about consumer services companies? Well you’ve come to the right place! Consumer services is a huge industry that aims to provide products and services to average consumers like you and me.
In this beginner’s guide, we’ll cover:
- What exactly are consumer services companies
- Examples of major consumer services companies
- Key types of consumer services businesses
- Skills needed to work in the industry
- Future trends shaping the sector
Sound good? Then let’s dive in!
Contents
What is a Consumer Services Company?
A consumer services company sells goods or provides services directly to everyday consumers to meet common needs, wants and desires.
Some examples include:
- Retail stores
- Restaurants
- Banks
- Phone/Internet providers
- Insurers
Essentially if you interact with the business as a consumer, they fall into the consumer services sector!
Consumer facing companies depend on providing excellent customer service and consumer value.
Major Consumer Services Industry Leaders
While there are many smaller consumer services firms, these industry giants provide crucial services across banking, hotels, transportation, education, entertainment, and more:
- JPMorgan Chase – Banking and financial services
- UnitedHealth Group – Health insurance
- McDonald’s – Fast food restaurants
- AT&T – Telecommunications including mobile and internet
- Hilton – Hotels and hospitality
Examples of Key Consumer Service Business Types
There is huge diversity within the consumer industry! Here are some of the most common categories:
Banking & Finance
- Loans
- Mortgages
- Credit Reports
- Investing
- Financial guidance
Insurance
- Auto insurance
- Health insurance
- Home insurance
- Life insurance
- Specialty insurance
Telecommunications
- Telephone services
- Internet providers
- Cable TV
- Mobile phone networks
- Tech support
Retail & Ecommerce
- Department stores
- Specialty retailers
- Online stores
- Product subscriptions
Food Service
- Fast food
- Casual dining
- Fine dining
- Meal kit delivery
And many more! Hospitality, media, education, healthcare, transportation and professional services also fall into this diverse sector.
Skills Needed to Work in Consumer Services
As you can see, consumer services covers a very wide range of companies and job roles. But some key skills are universally valued when working with customers:
- Communication abilities – listening, speaking, writing skills
- Problem-solving – troubleshoot issues creatively
- Product knowledge – understand your business offerings
- Digital literacy – use technology smoothly
- Work ethic – responsibility, teamwork and discipline
- Patience and empathy – appreciate diverse consumers
Many employers also look for prior customer service experience via internships, volunteer work or entry-level jobs.
Pro tip: Consider roles like customer service rep, bank teller or sales associate to break into the industry!
The Future of Consumer Services
Like all industries, change is constant in consumer services. Here are 5 key trends shaping the sector:
1. Rise of mobile apps and digital tools to serve customers online
2. Subscription services for products like software, food, shaving kits
3. Focus on convenience and speed with options like one-day delivery
4. Personalization and customization using consumer data
5. Automation of basic customer service tasks using chatbots
But the focus remains on understanding consumers and delivering excellent service!
So in summary, consumer services is an enormous, vibrant industry full of diverse companies. With strong customer service abilities, you can build a dynamic career helping people.
I hope this beginner’s guide provided a helpful introduction! Let me know if you have any other questions.