Successful consumer-facing companies are using
immersive technologies to build digital environments that are
increasingly realistic and create a greater connection to the
physical world
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).
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Virtual Products and locations could
provide new growth opportunities for consumer-based companies.
(Graphic: Business Wire)
The survey of more than 11,000 consumers in 16 countries found
that while almost two-thirds (64%) of consumers had already
purchased a virtual good or taken part in a virtual experience or
service in the past year, that figure is expected to rise, as 83%
show interest in making purchases via the metaverse. Furthermore,
42% of survey respondents said they had visited a retailer in the
virtual world to get advice, make a payment or browse a product
range when shopping for a physical item, while 56% of respondents
plan to in the next year. Among millennials, these figures increase
to 51% and 61% respectively.
According to the Accenture Technology Vision 2022, “Meet Me in
the Metaverse: The Continuum of Technology and Experience Reshaping
Business,” more than half (55%) of consumers agree that more of
their lives and livelihoods are moving into digital spaces. In
response, the vast majority (90%) of retail executives say that
they anticipate that leading organizations will push the boundaries
of the virtual world to make it more real, increasing the need for
persistence and seamless navigation between the digital and
physical worlds. Further, 72% of global executives state that the
metaverse will have a positive impact on their organizations, with
45% believing it will be breakthrough or transformational.
“The metaverse era has begun, and so for consumer-facing
companies, it’s not about deciding if they’re going to go into the
metaverse, it’s deciding how,’’ said Jill Standish, senior managing
director and global head of Accenture’s Retail industry group.
“Retailers and brands will need to reimagine and experiment with
what new immersive and consultative experiences could mean to
consumers. In addition to new opportunities to sell, the metaverse
can also help build loyalty through experiences that go beyond just
buying a product. For instance, retailers can create a personalized
experience by offering a live-stream shopping event where customers
can sit next to a brand ambassador, and then immediately be able to
step into a virtual dressing room where they can try something on,
add it to their cart, and check out.”
The survey also found that half (50%) of consumers said that
they are buying, or would be interested in buying, a travel
experience such as a sightseeing tour or hotel stay. This figure
rises to 55% of millennials, compared to 29% of baby boomers. For
leisure, 54% of consumers said that they are buying, or interested
in buying, tickets to a concert, a show or sporting event taking
place in a virtual world.
Emily Weiss, senior managing director and global head of
Accenture’s Travel industry group said, “It’s important to
recognize that the metaverse is not intended to replace physical
travel, rather provide a complementary enhancement to an
overarching experience that, over time, may become an essential
part of the travel ecosystem. Giving the option to sit in a virtual
first-class seat, experience the lounge or walk around a hotel
resort or room, opens up opportunities to truly engage and inspire
people before they travel. And, through “trying-before-you-travel”,
recreating landmarks in all their past glory or allowing travelers
to investigate parts of nature, which they cannot explore within
real-life interaction, the metaverse can also help create a more
meaningful travel experience that delivers on or even exceeds
customer expectations.”
In addition to giving rise to new ways to shop, travel and
socialize, virtual products and locations highlights a potential
opportunity to grow revenue across industries.
Oliver Wright, senior managing director and global head of
Accenture’s Consumer Goods and Services industry group said, “In a
world where digital has become as important as the physical,
consumer-facing companies are challenged to create, shape and
market products, services and experiences that can move between the
physical and virtual worlds. And they need to do this while
coordinating a network of experts, skills, and technologies to help
make it happen. While commercial applications of metaverse are
still in their infancy, they will develop quickly because consumers
already expect it. Successful consumer brands will be those that
collaborate with consumers and the metaverse eco-system to create
digital products and services that meet these rapidly emerging
needs.”
Accenture recently announced the launch of the Accenture
Metaverse Continuum business group, which combines
metaverse-skilled professionals and market-leading capabilities in
customer experience, digital commerce, extended reality,
blockchain, digital twins, artificial intelligence and computer
vision to help clients design, execute and accelerate their
metaverse journeys.
About the Research Accenture’s Consumer Pulse Survey
offers insights into consumer outlook, sentiment, and behaviours
two years on from the start of the pandemic (March 2020). This
year’s survey is relevant to all consumer industries but is focused
on Consumer Goods, Retail and Travel. Accenture surveyed a
representative sample of 11,311 consumers from 16 countries:
Brazil, Canada, Chile, China, France, Germany, India, Indonesia,
Italy, Singapore, Spain, Sweden, UAE, UK, USA and Vietnam. The
survey was conducted online and targeted consumers who have made
purchases for their household in the past six months. Respondents
were split evenly across gender and age group. This survey was
conducted between 7th and 15th February 2022.
For the Accenture Technology Vision 2022, Accenture Research
conducted a global survey of 24,000 consumers to capture insights
into their use of, interactions with, and beliefs about technology
in their everyday lives. In addition, Accenture conducted a survey
of 4,650 C-level executives and directors across 23 industries to
understand their perspectives and use of emerging technologies
across their organizations. The surveys were fielded from December
2021 through January 2022 across 35 countries.
About Accenture Accenture is a global professional
services company with leading capabilities in digital, cloud and
security. Combining unmatched experience and specialized skills
across more than 40 industries, we offer Strategy and Consulting,
Interactive, Technology and Operations services — all powered by
the world’s largest network of Advanced Technology and Intelligent
Operations centers. Our 699,000 people deliver on the promise of
technology and human ingenuity every day, serving clients in more
than 120 countries. We embrace the power of change to create value
and shared success for our clients, people, shareholders, partners
and communities. Visit us at accenture.com.
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Aleks Vujanic Accenture +44 7500 974 814
aleks.vujanic@accenture.com
Tara Burns Accenture +44 7850 435 158
tara.burns@accenture.com
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