Five macro trends will revolutionise the way
businesses work with customers in the face
of rapidly changing technology, according to a
new report by Accenture. Tom Walker investigates
The report shows that half of people globally are significantly altering their life goals / Kiselev Andrey Valerevich/shutterstock
The rapid advance of technology in all areas of life is putting societies in flux, creating uncertainty and forcing people to reassess their plans for the future, according to a new report from consulting firm Accenture.
The Annual Life Trends report shows that half of people globally are significantly altering their life goals, prioritising job stability and retirement over marriage or getting a college degree. Another 48 per cent now only plan 12 months ahead (or less) – with some not making any plans at all.
Mark Curtis, global sustainability lead for Accenture Song, said: “We’re entering a decade of deconstruction spurred on by changing consumer values, AI’s explosive growth and the relentless speed of change.”
A shift in mindset According to the report this shift in mindset – brought on in part by the increasing intrusion of technology into people’s lives – is creating challenges and some degree of fragility for businesses, as people are deconstructing everything in their lives and trying to assess their place in the world.
As an example of the way the relationship between consumers and businesses is changing, the report charts how, for years, the correlation between customer experience and revenue growth has inspired organisations to hold the customer at the centre of every decision.
Now, economic considerations are forcing cuts, creating friction between customers and brands in the form of price increases, reduced quality, value engineering, increased and aggressive subscription-only models - which is forcing some governments to legislate to protect consumers – and poor customer service.
The reductions in quality or size (‘shrinkflation’), declines in service (‘skimpflation’), customer service shortcomings and unwelcome subscriptions are adding up to a sense that brands are quietly reversing on their promises.
A problem of perception At the center of this trend, the report states, is a critical perception problem – where companies see actions for survival, some customers see greed.
Liz Terry, editorial director at Leisure Media, said: “In the face of so much change and the redrawing of expectations, there are important opportunities for all leisure businesses, given how fundamental they are to people’s lives, how nimble and responsive leisure is as a sector –from spa and wellness to health and fitness, hospitality and visitor attractions – and how customer-focused we can be when the customer is made a priority.
“Operators in all parts of the sector can commit to being a grounding influence in a time of huge upheaval for so many people and to reprioritising customer care and customer love, so we continue to deliver the experiences so many people are yearning for and value.
“Given businesses in so many parts of life are failing to deliver, this is our chance to really stand out.”
The trends that matter The changing relationship between consumer and business is one of five global macro-cultural trends which Accenture predicts will revolutionise how business leaders approach customers when working to accelerate growth.
For the report Accenture surveyed 15,227 respondents across 21 countries in August 2023 to validate the trends.
The five trends in summary are:
01 Where’s the love? Necessary cuts across enterprises have shunted customer obsession down the priority list – and customers are noticing.
02 The great interface shift Generative AI is upgrading people’s experience of the internet from transactional to personal, enabling them to feel more digitally understood and relevant than ever.
03 Meh-diocrity Creativity was once about the audience, but has become dependent on playing the tech system. Is this what creative stagnation feels like?
04 Error 429: Human request limit reached Technology feels like it’s happening to people rather than for them. Is a shift beginning, where they regain agency over its influence on daily life?
05 Decade of deconstruction Traditional life paths are being rerouted by new limitations, necessities and opportunities, significantly shifting demographics.
Interview: Fons Jurgens
Big changes are coming for much-loved Dutch theme park Efteling, with the launch of a Grand Hotel and major new attraction. Its CEO lets us into the plans
Museums: Ones to watch
Some seriously exciting new museums are taking shape across the globe. We highlight some of our favourites
Museums: Josh Kirk
As Copenhagen’s Home of Carlsberg relaunches after a five year revamp, the project design lead tells us how ground-breaking technology was used to bring the brand to life
Technology: AI – friend or foe?
How can attractions best exploit AI technologies? What are the dangers? What does the future hold? We get an expert opinion
Technology: Future shock
What can we learn from operators currently using AI? Lesley Morisetti gets some tips from early adopters
Museums: Jacqueline Springer
V&A East Museum will celebrate Black British music in its first exhibition. Its curator tells us more
Five macro trends will revolutionise the way
businesses work with customers in the face
of rapidly changing technology, according to a
new report by Accenture. Tom Walker investigates
The report shows that half of people globally are significantly altering their life goals / Kiselev Andrey Valerevich/shutterstock
The rapid advance of technology in all areas of life is putting societies in flux, creating uncertainty and forcing people to reassess their plans for the future, according to a new report from consulting firm Accenture.
The Annual Life Trends report shows that half of people globally are significantly altering their life goals, prioritising job stability and retirement over marriage or getting a college degree. Another 48 per cent now only plan 12 months ahead (or less) – with some not making any plans at all.
Mark Curtis, global sustainability lead for Accenture Song, said: “We’re entering a decade of deconstruction spurred on by changing consumer values, AI’s explosive growth and the relentless speed of change.”
A shift in mindset According to the report this shift in mindset – brought on in part by the increasing intrusion of technology into people’s lives – is creating challenges and some degree of fragility for businesses, as people are deconstructing everything in their lives and trying to assess their place in the world.
As an example of the way the relationship between consumers and businesses is changing, the report charts how, for years, the correlation between customer experience and revenue growth has inspired organisations to hold the customer at the centre of every decision.
Now, economic considerations are forcing cuts, creating friction between customers and brands in the form of price increases, reduced quality, value engineering, increased and aggressive subscription-only models - which is forcing some governments to legislate to protect consumers – and poor customer service.
The reductions in quality or size (‘shrinkflation’), declines in service (‘skimpflation’), customer service shortcomings and unwelcome subscriptions are adding up to a sense that brands are quietly reversing on their promises.
A problem of perception At the center of this trend, the report states, is a critical perception problem – where companies see actions for survival, some customers see greed.
Liz Terry, editorial director at Leisure Media, said: “In the face of so much change and the redrawing of expectations, there are important opportunities for all leisure businesses, given how fundamental they are to people’s lives, how nimble and responsive leisure is as a sector –from spa and wellness to health and fitness, hospitality and visitor attractions – and how customer-focused we can be when the customer is made a priority.
“Operators in all parts of the sector can commit to being a grounding influence in a time of huge upheaval for so many people and to reprioritising customer care and customer love, so we continue to deliver the experiences so many people are yearning for and value.
“Given businesses in so many parts of life are failing to deliver, this is our chance to really stand out.”
The trends that matter The changing relationship between consumer and business is one of five global macro-cultural trends which Accenture predicts will revolutionise how business leaders approach customers when working to accelerate growth.
For the report Accenture surveyed 15,227 respondents across 21 countries in August 2023 to validate the trends.
The five trends in summary are:
01 Where’s the love? Necessary cuts across enterprises have shunted customer obsession down the priority list – and customers are noticing.
02 The great interface shift Generative AI is upgrading people’s experience of the internet from transactional to personal, enabling them to feel more digitally understood and relevant than ever.
03 Meh-diocrity Creativity was once about the audience, but has become dependent on playing the tech system. Is this what creative stagnation feels like?
04 Error 429: Human request limit reached Technology feels like it’s happening to people rather than for them. Is a shift beginning, where they regain agency over its influence on daily life?
05 Decade of deconstruction Traditional life paths are being rerouted by new limitations, necessities and opportunities, significantly shifting demographics.
Interview: Fons Jurgens
Big changes are coming for much-loved Dutch theme park Efteling, with the launch of a Grand Hotel and major new attraction. Its CEO lets us into the plans
Museums: Ones to watch
Some seriously exciting new museums are taking shape across the globe. We highlight some of our favourites
Museums: Josh Kirk
As Copenhagen’s Home of Carlsberg relaunches after a five year revamp, the project design lead tells us how ground-breaking technology was used to bring the brand to life
Technology: AI – friend or foe?
How can attractions best exploit AI technologies? What are the dangers? What does the future hold? We get an expert opinion
Technology: Future shock
What can we learn from operators currently using AI? Lesley Morisetti gets some tips from early adopters
Museums: Jacqueline Springer
V&A East Museum will celebrate Black British music in its first exhibition. Its curator tells us more
Expo 2030 Riyadh is being planned as a permanent visitor destination, with organisers
confirming the six-million-square-metre site will become a Global Village after the event closes.
The owner of one of Australia's best-known waterparks has acquired a major competitor,
creating a new attractions business spanning two of the country's largest visitor destinations.
The Toverland theme park in the Netherlands has announced a €98m expansion programme
that will add a resort, new attractions and staff facilities as it pursues plans to become a multi-
day destination.
Hotel de France, located on the British Isle of Jersey, has created a wellness retreat package
that includes a hot yoga session that will take place in Jersey Zoo’s butterfly sanctuary.
A new immersive attraction designed to transport visitors into the final hours of ancient Pompeii
is preparing to open near the world-famous archaeological site in southern Italy.
Experience design company, BRC Imagination Arts, has completed a transition that sees founder
Bob Rogers pass ownership of the business to four long-serving senior executives, while
remaining actively involved with the company.
Movie Park Germany has opened a new Paramount Pictures-themed attraction as part of its 30th
anniversary celebrations, using immersive storytelling and adaptive reuse to reinforce the park’s
longstanding “Hollywood in Germany” positioning.
Therme Manchester’s 28-acre development, which will include interconnected glass pavilions
that measure 65,000sq m, will be the largest bathing and wellbeing attraction in the world once
complete, according to prof David Russell, CEO of Therme UK.
Efteling has opened Hooghmoed, a new family drop tower designed to broaden the appeal of its
recently launched Sirene Island themed area and introduce younger visitors to thrill attractions.
A proposed Puy du Fou development near Bicester and Universal Destinations and Experiences’
planned resort in Bedford are emerging as part of a wider transformation of the Oxford–
Cambridge Growth Corridor into a major centre for UK leisure and tourism inv
+ More news
COMPANY PROFILES
Polin Waterparks Polin was founded in Istanbul in 1976. Polin
has since grown into a leading company in
the waterpa [more...]
Sally Corporation Our services include: Dark ride design & build; Redevelopment of existing attractions; High-quality [more...]
