Covid-19 has changed the way people live, work and socialise and after a year of lockdowns, 98 per cent of consumers (those surveyed) in India have made at least one permanent change to their lifestyle since the outbreak of the pandemic, a new Accenture survey said on Tuesday.
While 87 per cent of respondents in India said they want to work from a “third space” — a location other than their home or workplace (highlighting a potential opportunity to grow revenue for the hospitality and retail industries), 57 per cent of respondents have no business travel plans post-pandemic or they intend to cut it by half.
“Online purchases for products by infrequent e-commerce users in India have increased by 667 per cent, the findings showed.
The findings of the global consumer survey, which covered more than 9,650 people in 19 countries including more than 500 in India, suggest that the pandemic is set to trigger a new wave of innovation as retailers, consumer goods companies shift from reaction to reinvention.
“As companies shift from reaction to reinvention, they need to harness digital’s full potential across the value chain at speed and scale, said Anurag Gupta, managing director and lead, Strategy and Consulting, Accenture in India.
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.
“Adoption of digital technologies such as cloud, artificial intelligence, advanced analytics, combined with a well-defined purpose, can help companies to not only reach out to consumers in innovative ways but also adapt faster to the evolving market demands,said Manish Gupta, managing director and lead for Products practice, Accenture in India.
Not only do people think some of their work habits and travel plans have likely permanently changed, but many also think their shopping habits have evolved for the long haul. The latest research supports previous findings that the dramatic rise in e-commerce is likely to remain or accelerate further, the report showed.