Remodeling Retail for a Responsible and Resilient Future By WWD Studios on September 24, 2020 Jill Standish, senior managing director and head of Accenture’s global retail practice. Accenture's Retail Industry Global Growth and Strategy Lead responsible for determining the key trends affecting the world’s largest retailers and how they should effectively respond to them. 54% said they would make use of recycling services to reduce waste if retailers offered them. There does appear to be a level of caution among consumers this year, however, as the percentage of those who anticipate spending less rose slightly year on year, from 11 percent to 15 percent. 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 How to rebuild a responsible retail ESG strategy Retailers are in a powerful position to make changes that drive sustainability across functions while enabling a profitable future. “Although monetary offers are a surefire way to lure in customers, retailers need to manage these incentives carefully, as they can take a big chunk of profits if not managed well,” said Lori Zumwinkle, a managing director at Accenture who leads its Retail practice in North America. Respondents said they expect to do half of their holiday shopping this year in a store or mall; Fashion retailers with a rental service could make gains this holiday season. On average, men expect to spend approximately 15 percent more than women — $685 versus $588. Responsible retail is designing every aspect of the business around responsible initiatives. Are you bringing personalization to the next level? For an insight into some of the varying shopper expectations across 17 U.S. cities, click here. Accenture’s pandemic-era activity hasn’t been all positive. Search job openings at Accenture. More than half (52%) of consumers think that a retailer’s responsibility for price-matching guarantees increases during the holidays. Jill Standish leads Accenture's global Retail practice. 짤 2020 BridgeTower Media. Thanksgiving and Black Friday continue to lose stature.The number of respondents who said they’re less inclined to shop on Black Friday or Thanksgiving than they were a few years ago increased this year, from 50% to 55% for Black Friday and from 51% to 58% for Thanksgiving. Perhaps not surprising, 82 percent of respondents cited lower prices as the top factor that would tempt them to make an in-store purchase, followed by special offers/discounts (77 percent). Seize the moment—Responsible and resilient retail Accenture May 13, 2020. Read more. The Accenture Strategy report, “Decoding Organizational DNA,” is based on qualitative and quantitative research, … Nearly a quarter (24%) of all respondents — and one third (34%) of older Millennials — said they would be likely or extremely likely to rent clothes for holiday parties. Accenture currently ranks 279th on the latest Global Fortune 500 list, which lists the 500 largest companies by revenue. The survey results go against the hype surrounding the demise of physical stores, with respondents saying they expect to do half of their holiday shopping this year in a store or mall, on average. Accenture’s 13th annual holiday shopping survey found the vast majority of U.S. consumers plan to spend at least as much this year on holiday gifts as they did last year and will be turning to stores for holiday gift inspiration. Consumers are very aware of the rising trend in package theft, also known as “porch piracy.” Almost one-third (29%) said they use delivery tracking/notification apps deliveries and schedule deliveries for dates/times when someone is home, and 21% are moving entirely away from home delivery and picking up in-store instead. Consumers still love physical stores and browsing them for holiday gift inspiration. Navigating the new world of retail post covid. NEW YORK; Oct. 1, 2020 – As the retail industry gears up for its busiest shopping period, the COVID-19 pandemic is making consumers focus on their own health and safety and the well-being of retail employees, according to findings of the 14th annual Accenture Holiday Shopping Survey (NYSE: ACN). Sign up to get exclusive industry information delivered directly to your inbox. The study also found a growing trend of “responsible retail,” with shoppers more concerned about the environmental and social impact of their purchases. Chief reasons included avoiding the crowds, spending the holiday with family and being able to get equally good discounts on other days. Nearly half (48%) said they would consider giving second-hand clothing as gifts, and 56% said they would welcome gifts of this kind for themselves. “Responsible” shoppers believe retailers should address wider social issues through their business practices and working conditions, and 45% said they are more likely to do their holiday shopping with retailers that do. Half also said they would be willing to skip gift-wrapping to reduce waste. - Appointed Global Sales Lead for ai.Retail - Accenture’s retail … However, the percentage of those who anticipate spending less rose slightly compared to last year, from 11% to 15%. “With consumers planning to do half of their holiday shopping in-store, retailers need to carefully plan their strategy for customer service, including labor, assortment and allocation of inventory. The study also found a growing trend of “responsible retail,” with shoppers more concerned about the environmental and social impact of their purchases. 47% said it’s extremely important or very important for retailers to demonstrate environmental awareness when it comes to deciding which retailer to shop with during the holidays. And it’s not just environmental issues that ‘responsible’ shoppers believe retailers should consider. But new research from Accenture found that customers young and old do … Eaves, a 20-year veteran of Accenture, was group chief executive of Accenture’s Products organization, serving clients in the consumer goods, retail … Passionate about Retail Industry, leading IT innovation and driving IT efficiency. A ranking of the organizations doing the most to embrace sustainable business practices was revealed Tuesday at the World Economic Forum annual meeting in … Most recently, Environmental, Social and Corporate Governance has been dubbed the “new management approach,” in a report from global consulting firm Accenture and the Responsible … With creativity and ingenuity around the store footprint, retailers have an opportunity to leverage the surge in holiday foot traffic not only to increase holiday revenues but also to find those special customers who will be the loyal ones they depend on all year.”. The study also found a growing trend of “responsible retail,” with shoppers more concerned about the environmental and social impact of their purchases. Responsible Retail. The two leading factors that respondents cited as affecting their holiday shopping spend are rising food bills (cited by 32% of respondents) and the desire to limit their credit card debt (31%). Shoppers are becoming more health-conscious. Are you in retail or in brands – or both? Salaries posted anonymously by Accenture employees. All rights reserved. In addition: “We have entered the era of ‘responsible retail,’ where consumers are becoming more environmentally and socially conscious and will increasingly turn to brands that not only talk about responsibility but demonstrate it through their business practices,” said Jill Standish, senior managing director and head of Accenture’s global Retail practice. Home Textiles Today is the market-leading brand covering the home and textiles markets, offering a comprehensive package of print and online products. Responsible to partners and investors Keeping pace with consumer and employee demands—while sustaining profitability—means retailers must reinvent themselves, at speed and scale. To adapt, retailers must focus on customer analytics and offer a brand purpose that resonates with the responsibility agenda. For this year’s study, Coleman Parkes Research, on behalf of Accenture, surveyed a representative sample of 1,500 U.S. consumers online, each of whom had purchased an item for personal use online or in a store within the previous six months. Leaders across all sectors of retail are thinking about ESG not as a problem to solve, but as the solution to cleaner, more efficient, less wasteful practices. “We have entered the era of ‘responsible retail,’ where consumers are becoming more environmentally and socially conscious and will increasingly turn to brands that not only talk about responsibility but demonstrate it through their business practices,” Standish said. Accenture is a management, consulting, IT and outsourcing company which helps clients in becoming high performance businesses and governments. In August, the company laid off around 25,000 employees, or about 5% of its global workforce of 500,000. A free inside look at Accenture salary trends based on 33904 salaries wages for 3886 jobs at Accenture. The online survey of 1,500 U.S. consumers found that Americans expect to spend $637 on holiday shopping this year, on average, with approximately six in seven respondents planning to spend either the same (57 percent) or more (28 percent) than they did last year. Home Textiles Today provides industry news, product trends and introductions, exclusive industry research, consumer data, store operations solutions, trade show news and much more. They also want retailers to make a greater commitment over the holiday period to keep their personal data safe and secure when making online purchases. The headquarters of Accenture are located in Dublin, Ireland since 2009 and getting a job in the company is considered a … Designed by Elegant Themes | Powered by WordPress, Callaway Golf Remains Presenting Sponsor for EWGA Championship, Bass Pro’s PR Chief Jack Wlezien Discusses Sportsman’s Warehouse Opportunity, SHOT Show Education Sessions Move Online; Registration Now Open, ASBA To Combine Tennis Division With Courts & Rec Division, Registration Opens For Virtual 2021 PGA Merchandise Show, Representatives From 12 States Support Fitness Industry Relief Bill, Ecore Partners With CommonWealth Equity Partners, Sports Basement CFO Among Cyclists Killed In Las Vegas Crash. Accenture Plc engages in the provision of management consulting, technology, and outsourcing services. Responsible Retail: How Purpose Becomes Performance For instance, they expect to spend more this year on fruits, plant-based foods, and organic and vegan foods while spending less on cakes and desserts, other sweet treats and soda. “We have entered the era of ‘responsible retail,’ where consumers are becoming more environmentally and socially conscious and will increasingly turn to brands that not only talk about responsibility but demonstrate it through their business practices,” said Jill Standish, senior managing director and head of Accenture’s global Retail practice. “While having a strong online proposition has become table-stakes, physical stores will still play an important role in the future,” said Jill Standish, senior managing director and head of Accenture’s global Retail practice. Further, half of the respondents said that, due to the negative environmental impact of fast-shipping options — which includes the use of planes rather than ground transportation, as well as the shipping of multiple items separately rather than together to expedite delivery — they would opt for delivery options with a lower environment impact, such as slower shipping or in-store pick-up. Respondents were split evenly between gender and by age group, with 20 percent each of Generation Zers (aged 18-20), younger millennials (21-27), older millennials (28-37), Generation Xers (38-54) and baby boomers (55 and older). - Responsible for designing and delivering the strategy for priority initiatives including creating differentiated propositions, sales strategies, operating models, prioritised product roadmaps, pricing, licensing and business cases. See publication. Use of this website is subject to its Terms of Use | Privacy Policy | Your California Privacy Rights/Privacy Policy | Do Not Sell My Info/Cookie Policy, Retail association encouraged by stimulus deal, November retail sales mark sixth month of YOY gains, The Gap inks license for home textiles collection, Comscore: Home furnishings online visitations up nearly 20% over Thanksgiving week, Riley Home launches new bedding and bath collection, Your California Privacy Rights/Privacy Policy. Responsible for driving efficiencies in Application Services as well as improving quality of delivery and operation. They also want to see the origin of materials and ingredients and offered the option of packaging-free products and deliveries. It currently employs more than … The survey also found consumers want clear labelling that identifies products made in sustainable or ethical ways. The study also found a growing trend of “responsible retail,” with shoppers more concerned about the environmental and social impact of their … The survey also identified how consumers are beginning to care more about our planet. This is especially pertinent for gifts of clothing, given the heightened risk of returns and the associated costs.”, Consumers are trading frills and next-day shipping for environmental responsibility. Gift cards and clothing/footwear topped the list of planned purchases. Gift cards and clothing/footwear topped the list of planned purchases. They want clear labelling that products are made in sustainable or ethical ways, to be shown the origin of materials and ingredients and offered the option of packaging-free products and deliveries. Consumers are now looking at the carbon footprint of the different delivery options retailers offer, and half said they would opt for delivery options with a lower environmental impact, such as slower shipping or in-store pick-up. New York – Accenture’s 13th annual holiday shopping survey finds consumers ready to spend – some of them conscientiously. Accenture’s 13th Annual Holiday Shopping Survey of 1,500 US shoppers shows how quickly consumer expectations continue to shift, with the need for responsible retail the most notable trend this year. Responsible retailers are adopting AI, using information and tools in a way that maintains users’ data privacy, security and enables transparency while also unleashing the benefits of data. The online survey of 1,500 U.S. consumers found that Americans expect to spend $637 on holiday shopping this year, on average, with approximately six in seven respondents planning to spend either the same (57%) or more (28%) than they did last year. Accenture is proud to be a responsible corporate citizen, using its global capabilities and digital experience to innovate society and shape responsible business, and its people are passionate about giving back. Yes, the lines have blurred! Posted by SGB Media | Oct 1, 2019 | Apparel, Footwear, SGB Updates, Update. Accenture PLC (ACN) Q1 2021 Earnings Call Transcript ... energy, high tech, including aerospace and defense, retail and industrial. For decades, retailers avoided investing in a purpose because they felt it wouldn't pay off. “Retailers should be using data-driven approaches to understand the profitability of such tactics, to ensure visibility of inventory, and to build a granular understanding of the intersection between product, services and the customer as they try to outmaneuver competitors during the holidays. The two leading factors that respondents cited as affecting their holiday shopping spend are rising food bills (cited by 32 percent of respondents) and the desire to limit their credit card debt (31 percent). Consumers are now looking at the carbon footprint of the different delivery options retailers offer. Do you have a consumer-centric mindset? The survey was conducted in July and August 2019. Retailers have a responsibility to address wider social issues through their business practices and working conditions, and nearly half of the respondents (45 percent) said they are more likely to do their holiday shopping with retailers that do just that. Jill leads the Accenture global Retail practice and helps retail clients transform into responsible and resilient enterprises. It’s where partners play a vital role. “Retailers need to design their products and their business around responsible initiatives; those already on this path could have the edge over their competitors this holiday season and beyond.”. The Accenture Holiday Shopping survey offers insights into consumer buying patterns during the holiday time period, providing an indication of retail performance expectations both on the high street and online at a key time for the sector. Responsible for growing Accenture’s Retail Utilities business globally. 786 Accenture jobs including salaries, ratings, and reviews, posted by Accenture employees. Stores play an important role when it comes to inspiring shoppers’ gift ideas. DAVOS, Switzerland; Jan. 21, 2019 – Business leaders will need to implement responsible workforce data strategies if they are to build the employee trust that will help generate sustained revenue growth, according to a new report from Accenture (NYSE: ACN). 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