You can then update your LinkedIn sign-in connection through the Edit Profile section. The study also found a growing trend of “responsible retail,” with shoppers more concerned about the environmental and social impact of their purchases. It’s where partners play a vital role. What makes a product or service relevant to them in the moments that matter? But they’re also reassessing what the bricks-and-mortar store is for, seeing it as a place to both do their shopping and experience a retailer’s ethos and purpose—while reducing their carbon footprint by picking up online purchases at the same time. One of the most profound changes? The research also casts doubt on simplistic narratives about the decline of physical retail. Yes, the lines have blurred! Shoppers still really value in-store browsing—and they’re more willing to make their purchases in-store too, especially over the holidays. While most consumers are feeling good about their holiday spending (around six in every seven shoppers plan to spend the same or more than they did last year), they’re also becoming far more carbon-conscious and socially aware—and they expect their retailers … How do you unlock your employees’ potential so they feel empowered and motivated to bring the best of themselves to work every day—enabling your organization to deliver the most relevant experiences to your consumers? It’s a fine line to tread. want the option of packaging-free products and deliveries. Making responsible retail happen is an enterprise-wide commitment—strong leadership, collaboration and excellent communication are all essential. Do Not Sell My Personal Information (for CA). READ MORE BUSINESS ISSUE COVID-19 – we’re here to help. Most US Shoppers Expect to Spend as Much or More This Holiday Season than Last Year, with Many Turning to Physical Stores for Inspiration, Accenture Survey Reveals . Many consumers feel brands don’t know them well enough. En savoir plus. In this new era of responsible retail, companies need to operate ethically and fairly to customers, workforce, stakeholders and our planet. Combined with a clear brand purpose centered around responsible retail, that’s how retailers can ensure they deliver for their customers over the holiday period, and long into the future. Smart retailers know they must be alive to these subtle shifts in consumer behavior if they want to sustain the seasonal retail surge across the whole calendar year. POINT OF VIEW Elastic Digital Workplace for the Microsoft platform. Responsible Retail—good for consumers, employees, partners, investors and our planet. Are you in retail or in brands – or both? Omnichannel, personalization and social media are all now business as usual. Source: 2019 Accenture US Holiday Shopping Survey. Retailers should also be rethinking outdated loyalty programs, and linking up available data to identify the brand superfans—the hyper-engaged customers who are most happy to invest their money or their time in the brand. Read more. These partnerships bring new opportunities. Brands with high responsibility performance don’t just win consumers’ confidence. Grocer Alepa launches chatbot to engage customers. Build long-lasting trust, provide transparency and use data to humanize consumer relationships inventively—not invasively. In a world with finite resources, business continuity has to be grounded in sustainability—right across the value chain. Rather it’s about recognizing that the customer is the channel—and serving the needs of each individual in each moment. It’s not about making false distinctions between online and in-store retail channels. Banking Blog Capital Markets Blog Insurance Blog Financial Services Blog ... the outdoor-clothing retail chain estimated by Forbes to be worth $750 million in 2015 has donated over $185 million to environmental groups and conservation efforts, and invested a further $38 million in socially responsible companies. Responsible to partners and investors Keeping pace with consumer and employee demands—while sustaining profitability—means retailers must reinvent themselves, at … You can then update your LinkedIn sign-in connection through the Edit Profile section. LEARN MORE. Through your responsibility to think “human first”. How can retailers deliver their purpose and remain profitable? How can retailers deliver their purpose and remain profitable? From now on, relevancy, differentiation and growth will all hinge on delivering something truly meaningful through responsible retailing. Home Textiles Today Staff // News & Commentary • October 2, 2019. X. Environmental consciousness and consumerism matter more than ever to consumers and employees. Retail and technology experts from Accenture say it's time to leverage the power of AI. Accenture works with food and beverage, home and personal care, alcohol, tobacco, fashion and agribusiness companies to improve efficiency and drive growth. It’s not just ethical sense, it’s practical sense too. … The survey covered 21 countries and 22 industries. This will navigate you to Accenture.com Sign In page. What do they truly care about? To adapt, retailers must focus on customer analytics and offer a brand purpose that resonates with the responsibility agenda. They recognize a clear brand purpose and greater customer-centricity are the best ways to get the most valuable consumers to buy into the brand beyond the holidays. Was responsible for managing key Retail & CPG client accounts in the US mid-west. But they can also create risks in a world where vendor and supplier relationships are closely scrutinized by consumers. Senior Managing Director – Global Lead, Retail. READ MORE COVID-19 – we’re here to help . Put the most loyal, profitable customers at the center of every aspect of your business—from the products you sell to the design of your supply chain. To do that, retailers still need to get smarter about customer data, using micro-segmentation to orient the whole retail strategy (both online and in-store) around the needs and expectations of the customers who deliver the most value to the business. Accenture indicated there are customers in the telecom industry that rely on Accenture Interactive Operations to manage their digital, print and retail asset creation across media channels, involving more than 1,500 unique assets per month. Understand consumers, their concerns, values and preferences. Retail; Santé ; Sciences de la Vie ... Accenture, c'est une communauté de plus de 505 000 talents et une vision commune : innover ensemble afin d'améliorer nos modes de vie et de travail. I was formerly responsible for Accenture Management Consulting in France and Accenture Strategy practice in Gallia, where I gained extensive strategy consulting experience across a wide range of industries—from retail and consumer goods through to hi-tech, transportation and utilities. Accenture: “Responsible retail” a factor in Holiday 2019 shopping Consumer survey finds 57% will spend the same amount as last year. Retail has been in the throes of massive transformation for more than a decade. Consumers are turning to the circular economy—with fashion waste a big turn-off and grocery shoppers expecting their retailers to be responsible. said they’d choose slower shipping or in-store pickups to reduce their environmental impact. 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