How Consumer Electronics Retailers Can Prepare for 5G
By 2025, 99 percent of all broadband carriers will possess 5G capabilities, which is predicted to impact 2.6 billion subscriptions—or one-fifth of mobile connections worldwide. These numbers don’t just affect the carrier industry, they also indicate that consumer electronics retailers should begin preparing for how to handle the beast that is 5G…especially with an eye toward ensuring customer service remains a priority.
When 5G finally arrives, your customers are going to have questions, and lots of them. Get your research done now so, when the time comes, you’re not scrambling for answers. There are a variety of resources available to help better understand what to expect with 5G: what it is, how it works, and why it would be a positive investment for your business.
But your research should go beyond merely defining 5G. Understanding the three types of 5G networks—enhanced mobile broadband (eMBB), massive machine-type communications (mMTC), and ultra-reliable low-latency communications (uRLLC)—is critically relevant depending on your line of work. For example, as a consumer electronics retailer, you wouldn’t want to talk to your customers about uRLLC, which applies to things like remote surgery, automated vehicles, and situational analysis. Instead, you’ll want to become knowledgeable on eMBB, which is more focused on improving existing 4G mobile networks.
Jon Mikow is Vice President of Wireless at Fortegra Financial Corporation (a Tiptree Inc. company). Fortegra® and its subsidiaries comprise a single-source insurance services provider that offers a range of consumer protection options including warranty solutions, credit insurance, and specialty underwriting programs. Delivering multifaceted coverage with an unmatched service experience for domestic and international partners and their customers, Fortegra solves immediate, everyday needs, empowering consumers to worry less and Experience More.