Life Reimagined: How COVID-19 Changed Consumers

As the world begins to emerge from the global pandemic, a majority of consumers have reimagined their values and purpose. According to research from Accenture, they have made a consequential shift to focusing on what matters most for them in life - and their motivations for buying are, accordingly, meaningfully different. The author, a senior executive at Accenture, shares the firm's findings and shows that these changes reveal an enormous new 'white space' in which brands must differentiate themselves anew in order to survive. He describes four steps to attracting the Reimagined Consumer: eengineer; rethink; reimagine and recalibrate. He makes it clear that evolving their business model is not a choice for organizations, it is an imperative: Consumers will leave brands that don't recognize their new priorities-and will pay more for those that do.