{"id":386494,"date":"2020-11-23T07:02:24","date_gmt":"2020-11-23T12:02:24","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=386494"},"modified":"2020-11-23T07:02:24","modified_gmt":"2020-11-23T12:02:24","slug":"new-consumer-behaviors-will-shift-us3trillion-in-economic-value-accenture-report-finds","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/new-consumer-behaviors-will-shift-us3trillion-in-economic-value-accenture-report-finds\/","title":{"rendered":"New Consumer Behaviors Will Shift US$3Trillion in Economic Value, Accenture Report Finds"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }\n.bwlistdisc { list-style-type: disc }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>New Consumer Behaviors Will Shift US$3Trillion in Economic Value, Accenture Report Finds<\/b><\/p>\n<p class=\"bwalignc\">\nNew risks and opportunities are emerging across industries as people avoid public spaces, fly less, and spend differently as a result of COVID-19\n<\/p>\n<p>NEW YORK&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nWith the pandemic driving people to spend more time at home, avoid air travel, and change their spending habits, businesses can expect to see a shift of more than US$3 trillion in economic value, according to Accenture (NYSE: ACN).\n<\/p>\n<p id=\"news-body-cta\">This press release features multimedia. View the full release here: <a href=\"https:\/\/www.businesswire.com\/news\/home\/20201123005657\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20201123005657\/en\/<\/a><\/p>\n<div id=\"bwbodyimg\" style=\"width: 480px;float:left;padding-left:0px;padding-right:20px;padding-top:0px;padding-bottom:0px\"><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20201123005657\/en\/841206\/4\/UnderPressure.jpg\" alt=\"As a result of behavioral changes, corporate liquidity and revenue streams across a range of industries will suffer. (Photo: Business Wire)\" \/><\/p>\n<p style=\"font-size:85%\">As a result of behavioral changes, corporate liquidity and revenue streams across a range of industries will suffer. (Photo: Business Wire)<\/p>\n<\/div>\n<p>\nThe report, titled <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.accenture.com%2Fvalueshift&amp;esheet=52334448&amp;newsitemid=20201123005657&amp;lan=en-US&amp;anchor=The+Big+Value+Shift&amp;index=1&amp;md5=d2287468d1354eaecb48e552690a7bc9\">The Big Value Shift<\/a>, quantifies the broad impact of long-term changing consumer behaviors and provides actionable insights for companies to build strategies to thrive in the face of disruption. Through a proprietary macroeconomic model that incorporates data from 38,000 companies across 25 industries, as well as household spending data for 15 countries that account for approximately 80% of global GDP, Accenture conservatively found:\n<\/p>\n<ul class=\"bwlistdisc\">\n<li>\nMore than <b>US$2 trillion<\/b> of annual value may shift away from industries such as restaurants, traditional retail, and commercial real estate as consumers pass more of their leisure time at home.\n<\/li>\n<li>\nChanges in spending may cause a net decline of up to <b>US$687 billion<\/b> in annual value across consumer-facing industries.\n<\/li>\n<li>\nIf current declines in air travel persist into a longer-term shift, up to <b>US$318 billion<\/b> of annual value will flow to different industries and ecosystems.\n<\/li>\n<\/ul>\n<p>\n\u201cRipple effects of today\u2019s changing consumer behaviors are causing waves that will reshape industries and their ecosystems. Companies must be ready \u2014 with responsive business models, technology-enabled operating models that are agile, and a growth mindset rooted in data and advanced analytics \u2014 to uncover new value and better meet customer demands as this wave of change approaches their industry,\u201d said Kathleen O\u2019Reilly, global lead of Accenture Strategy.\n<\/p>\n<p>\nAccording to the latest <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.accenture.com%2Fus-en%2Finsights%2Fconsumer-goods-services%2Fcoronavirus-debunking-cpg-consumer-myths&amp;esheet=52334448&amp;newsitemid=20201123005657&amp;lan=en-US&amp;anchor=Accenture+Consumer+Pulse+survey&amp;index=2&amp;md5=f552b6c83087ceca6624013879577889\">Accenture Consumer Pulse survey<\/a>, nearly three-quarters (73%) of respondents expect to feel most comfortable spending their free time at home over the next six months. This shift is impacting the traditional retail and leisure industries with value transferring to companies that offer ecommerce and digital-entertainment options.\n<\/p>\n<p>\n\u201cThe crisis has forced an uncomfortable reckoning for many brands \u2014 but, handled wisely, this will result in new ways of doing business that deliver better experiences for consumers and growth for organizations,\u201d said Oliver Wright, global lead of Accenture\u2019s Consumer Goods &amp; Services industry group. \u201cBefore Covid-19, in-store shopping was, for most companies, the only \u2018game in town\u2019 with ecommerce and digital marketing an afterthought. The companies that fully integrate enjoyable and efficient digital and physical experiences that deliver faster, more convenient services will be the winners in the future.\u201d\n<\/p>\n<p>\nThe highly suppressed demand for air travel has had a profound impact on the travel ecosystem from airlines and airports to aircraft manufacturers, and even further downstream to hotel chains, energy, and resources companies. Data suggests that business travel will be one of the last segments to experience a sustained recovery. As consumers will still have vacation time, value is likely to migrate to sectors like domestic tourism, digital entertainment, and outdoor recreation.\n<\/p>\n<p>\nEmily Weiss, global lead of Accenture\u2019s Travel industry group, said, \u201cFundamental changes in behavior, including heavily reduced air travel and consumer discomfort in public spaces, creates opportunity in other areas. Companies need to innovate to drive new revenue streams and look at their ecosystem partnerships to offer value-added services that cater to new ways of working and the health-conscious consumer. For example, the hospitality sector can leverage existing assets to provide hotel rooms for day rates so people can work away from home, but still in a safe space. Critically, these efforts could also become a permanent and profitable avenue for growth in the post-pandemic era.\u201d\n<\/p>\n<p>\nThe Big Value Shift is the first in a series of Macroeconomic Insights that looks at major economic and sustainability trends arising from the COVID-19 crisis and offers guidance for business leaders as they strategize and navigate their companies through unchartered business territory.\n<\/p>\n<p><b>About Accenture<\/b><\/p>\n<p>\nAccenture is a global professional services company with leading capabilities in digital, cloud and security. Combining unmatched experience and specialized skills across more than 40 industries, we offer Strategy and Consulting, Interactive, Technology and Operations services\u2014all powered by the world\u2019s largest network of Advanced Technology and Intelligent Operations centers. Our 506,000 people deliver on the promise of technology and human ingenuity every day, serving clients in more than 120 countries. We embrace the power of change to create value and shared success for our clients, people, shareholders, partners and communities. Visit us at <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.accenture.com&amp;esheet=52334448&amp;newsitemid=20201123005657&amp;lan=en-US&amp;anchor=www.accenture.com&amp;index=3&amp;md5=5cf195780a52451aeba90ef1123e7896\">www.accenture.com<\/a>.\n<\/p>\n<p>\nAccenture Strategy works with boards, CEOs, and C-suite executives to create 360\u00b0 value for all stakeholders by defining and answering their most strategic business questions \u2014 including growth, profitability, technology-driven transformation, mergers and acquisitions (M&amp;A), operating models and sustainability\u2014with insights from AI and data science, combined with deep industry and function expertise. For more information, follow @AccentureStrat or visit <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.accenture.com%2Fstrategy&amp;esheet=52334448&amp;newsitemid=20201123005657&amp;lan=en-US&amp;anchor=www.accenture.com%2Fstrategy&amp;index=4&amp;md5=15b9dd4c84d8bd31c3e5d9d21d472246\">www.accenture.com\/strategy<\/a>.\n<\/p>\n<p>\nCopyright\u00a9 2020 Accenture. All rights reserved\n<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20201123005657r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20201123005657\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20201123005657\/en\/<\/a><\/span><\/p>\n<p>\nMaggie Nolan<br \/>\n<br \/>Accenture Strategy<br \/>\n<br \/>+1 917 452 3964<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:margaret.d.nolan@accenture.com\">margaret.d.nolan@accenture.com<\/a><\/p>\n<p>\nAleks Vujanic<br \/>\n<br \/>Accenture \u2014 Retail, Travel &amp; Hospitality<br \/>\n<br \/>+44 7500 974 814<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:aleks.vujanic@accenture.com\">aleks.vujanic@accenture.com<\/a><\/p>\n<p>\nTara Burns<br \/>\n<br \/>Accenture \u2014 Consumer Goods &amp; Services<br \/>\n<br \/>+44 07850 435 158<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:tara.burns@accenture.com\">tara.burns@accenture.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> New York United States North America<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Data Management Lodging Online Retail Technology Travel Air Transport Retail Software Networks Restaurant\/Bar<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Photo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20201123005657\/en\/841206\/3\/UnderPressure.jpg\" alt=\"Photo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\">As a result of behavioral changes, corporate liquidity and revenue streams across a range of industries will suffer. (Photo: Business Wire)<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>New Consumer Behaviors Will Shift US$3Trillion in Economic Value, Accenture Report Finds New risks and opportunities are emerging across industries as people avoid public spaces, fly less, and spend differently as a result of COVID-19 NEW YORK&#8211;(BUSINESS WIRE)&#8211; With the pandemic driving people to spend more time at home, avoid air travel, and change their spending habits, businesses can expect to see a shift of more than US$3 trillion in economic value, according to Accenture (NYSE: ACN). This press release features multimedia. View the full release here: https:\/\/www.businesswire.com\/news\/home\/20201123005657\/en\/ As a result of behavioral changes, corporate liquidity and revenue streams across a range of industries will suffer. (Photo: Business Wire) The report, titled The Big Value Shift, quantifies the broad impact &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/new-consumer-behaviors-will-shift-us3trillion-in-economic-value-accenture-report-finds\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;New Consumer Behaviors Will Shift US$3Trillion in Economic Value, Accenture Report Finds&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-386494","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>New Consumer Behaviors Will Shift US$3Trillion in Economic Value, Accenture Report Finds - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/new-consumer-behaviors-will-shift-us3trillion-in-economic-value-accenture-report-finds\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"New Consumer Behaviors Will Shift US$3Trillion in Economic Value, Accenture Report Finds - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"New Consumer Behaviors Will Shift US$3Trillion in Economic Value, Accenture Report Finds New risks and opportunities are emerging across industries as people avoid public spaces, fly less, and spend differently as a result of COVID-19 NEW YORK&#8211;(BUSINESS WIRE)&#8211; With the pandemic driving people to spend more time at home, avoid air travel, and change their spending habits, businesses can expect to see a shift of more than US$3 trillion in economic value, according to Accenture (NYSE: ACN). This press release features multimedia. View the full release here: https:\/\/www.businesswire.com\/news\/home\/20201123005657\/en\/ As a result of behavioral changes, corporate liquidity and revenue streams across a range of industries will suffer. 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This press release features multimedia. View the full release here: https:\/\/www.businesswire.com\/news\/home\/20201123005657\/en\/ As a result of behavioral changes, corporate liquidity and revenue streams across a range of industries will suffer. 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