Jess Huang of McKinsey on how consumer-facing companies must grow and thrive in an ever-evolving and demanding consumer landscape:

New direct-to-consumer brands are popping up all over the place. Because there’s a very low barrier to establishing yourself as a brand, they’re willing to spend on customer acquisition. So it’s not that consumers are necessarily becoming less loyal, it’s just so much easier to access them and so much easier for them to try something new. So brands are really trying to figure out a way to develop and maintain that relationship with the consumer.