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COVID-19 has Sparked a New Wave of Innovation Across Consumer Industries, According to Accenture Research

Nachrichtenquelle: Business Wire (engl.)
12.04.2021, 01:01  |  152   |   |   

The COVID-19 pandemic has changed the way people live, work and socialize, accelerating demand for innovation, as retailers, consumer goods, and travel companies shift from reacting to the crisis to reinventing products and services, according to findings of a new global survey from Accenture (NYSE: ACN).

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210411005013/en/

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The COVID-19 pandemic has changed the way people live, work and socialize, sparking a new wave of innovation. (Graphic: Business Wire)

The COVID-19 pandemic has changed the way people live, work and socialize, sparking a new wave of innovation. (Graphic: Business Wire)

After a year of lockdowns, 95% of survey respondents said they made at least one change to their lifestyle that they expect will be permanent. Working from home, changing travel patterns, and a growing desire to shop locally are challenging industries to fundamentally rethink how they cater to the pandemic-adapted consumer. The latest survey of more than 9,650 people in 19 countries supports Accenture’s previous findings that many changes in behavior will likely be long-term.

“The ripple effects of the pandemic will be felt for some time and serve as a powerful illustration of the need for consumer-facing companies to be agile, resilient, and responsive to change,” said Oliver Wright, senior managing director and head of Accenture’s global consumer goods industry group. “Born out of disaster and necessity comes opportunity; the pandemic has sparked a new wave of innovation. As companies fundamentally rethink ways of doing business that deliver growth, many are using advanced analytical capabilities to spot, respond, and target changing consumption trends. For instance, British beer company, Brewdog, responded with agility and creativity throughout the crisis —shifting to produce hand sanitizer, creating virtual bars, setting up the Brewdog Drive-Thru, and repurposing physical locations to create co-working space with Desk Dog.”

COVID-19 has led to compressed transformation, with companies simultaneously transforming multiple parts of the enterprise and reskilling people in what previously would have been longer-term step-by-step programs. Many consumer-facing companies have re-platformed their businesses in the cloud, addressed cost pressures, and continued to build resilience and security, putting the infrastructure in place to enable innovation and position them for future success.

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COVID-19 has Sparked a New Wave of Innovation Across Consumer Industries, According to Accenture Research The COVID-19 pandemic has changed the way people live, work and socialize, accelerating demand for innovation, as retailers, consumer goods, and travel companies shift from reacting to the crisis to reinventing products and services, according to …

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