NEW YORK--(BUSINESS WIRE)--May 4, 2020--
The COVID-19 pandemic is likely to alter consumer behaviors permanently and cause lasting structural changes to the consumer goods and retail industries, according to findings of an Accenture (NYSE: ACN) survey of more than 3,000 consumers in 15 countries across five continents.
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Online Shopping (Photo: Business Wire)
The survey, which was conducted between April 2 and April 6, after many countries had implemented stay-at-home orders, found that consumers have already begun shifting their purchasing priorities. For instance, consumers overall said they were currently buying more personal hygiene and cleaning products, as well as canned and fresh foods than they had been two weeks prior — while purchasing fewer fashion, beauty and consumer electronics items.
More importantly, however, the findings indicate that many of the changes in consumer behavior are likely to continue long after the pandemic. In addition, the crisis is also causing consumers to more seriously consider the health and environmental impacts of their shopping choices. For instance:
- 60% of respondents are spending more time on self-care and mental well-being, with about six in 10 consumers (57%) saying they have started exercising more at home;
- 64% of consumers said they’re focusing more on limiting food waste and will likely continue to do so going forward;
- 50% of consumers said they’re shopping more health-consciously and will likely to continue to do so; and
- 45% of consumers said they’re making more sustainable choices when shopping and will likely continue to do so.
“The scale of the changes identified in our findings clearly suggest that this is a long-term shift,” said Oliver Wright, managing director and head of Accenture’s global Consumer Goods practice. “While we have been seeing these trends for some time, what’s surprising is the scale and pace — compressing into a matter of weeks changes that would likely have taken years. The new consumer behavior and consumption is expected to outlast the pandemic, stretching far beyond 18 months and possibly for much of the current decade.”
Pandemic is accelerating digital adoption
Not surprisingly, the survey found that the pandemic is causing more people to shop for groceries online. In fact, one in five respondents who said their most-recent grocery purchase was done online were first-time online grocery shoppers — for older consumers, this was one in three. And while 32% of consumers’ current purchases of all products and services have been online, that figure is expected to rise to 37% going forward.
“The realignment of purchasing priorities, personal lifestyles, and working practices is mandating significant changes to retail and commerce,” said Jill Standish, senior managing director and head of Accenture’s global Retail practice. “Groceries were, until recently, one area in which many people were reluctant to shop online, but COVID-19 has quickly changed that. The findings show how people who haven’t been as comfortable with ecommerce and other digital technology have been pushed to overcome their hesitancy — and this shift is huge. As organizations adapt, their watchwords must be trust, relevance and convenience.”
COVID-19 is also accelerating digital adoption more broadly. For instance, the number of consumers who said they’re interested in buying or increasing their use of technology has increased dramatically. More than half of respondents said they are likely to increase their usage of voice-enabled digital assistants, online recommendation apps, self-service apps, intelligent home devices and wearables.
“The pandemic is likely to produce a more sustainable, healthier era of consumption over the next 10 years, making consumers think more about balancing what they buy and how they spend their time with global issues of sustainability — suggesting a healthier human habitation of the planet,” Wright said. “At the same time, it’s a wake-up call for companies to ensure they have the agility and capability to be relevant to consumers and customers — with a portfolio of products and services that match shifting purchasing patterns — not just today, but post-pandemic as well.”
About the Research
Accenture commissioned a survey to explore how global consumer priorities, purchasing decisions and behavioral patterns are shifting in the wake of COVID-19. The survey of 3,074 consumers in 15 markets — Australia, Brazil, China, Canada, France, Germany, India, Italy, Japan, Mexico, South Korea, Spain, United Arab Emirates, the U.K. and the U.S. — was conducted online between April 2 and April 6. Accenture plans to conduct follow-up surveys in the coming weeks and months.
Accenture is a leading global professional services company, providing a broad range of services in strategy and consulting, interactive, technology and operations, with digital capabilities across all of these services. We combine unmatched experience and specialized capabilities across more than 40 industries — powered by the world’s largest network of Advanced Technology and Intelligent Operations centers. With 509,000 people serving clients in more than 120 countries, Accenture brings continuous innovation to help clients improve their performance and create lasting value across their enterprises. Visit us at www.accenture.com.
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KEYWORD: UNITED STATES NORTH AMERICA NEW YORK
INDUSTRY KEYWORD: TECHNOLOGY CONSULTING PROFESSIONAL SERVICES HOME GOODS FAMILY CONSUMER RETAIL CONSUMER ELECTRONICS ONLINE RETAIL
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PUB: 05/04/2020 12:01 AM/DISC: 05/04/2020 12:01 AM