The majority (85%) of consumers believe they are currently living with uncertainty, with more than half (52%) expecting this to last for more than 12 months, according to new research from Accenture, the latest in a series of consumer surveys that Accenture has been conducting to test the pulse of consumer outlook and sentiment since the start of the pandemic. This is bringing about an “Era of Volatility”, where an ongoing state of uncertainty is spurring people to change behaviors suddenly, and, often in, unexpected or contradictory ways.
Despite financial uncertainty, consumers are not willing to reduce the amount they spend on health and well-being, according to the latest in a series of consumer surveys that Accenture (NYSE: ACN) has been conducting to test the pulse of consumer outlook and sentiment since the start of the pandemic.The survey of more than 11,000 consumers in 16 countries found that even in the face of widespread uncertainty and personal financial strains, consumers are considering health and fitness to be an “essential,” alongside groceries and household cleaning products. Even though two-thirds (66%) of survey respondents said they feel squeezed financially, 80% also said they intend to maintain or increase their spend on areas related to health and fitness such as exercise classes or vitamins and supplements in the next year.
The growing use of immersive technologies such as augmented and virtual reality will spur consumer-facing companies, such as those in retail, consumer goods and travel, to increase investment in new capabilities and experiences to blend physical and virtual worlds, or risk being left behind, according to the findings of a recent global survey from Accenture (NYSE: ACN).