Accenture study finds that need for speed is top priority for Indian consumers
Accenture study finds that need for speed is top priority for Indian consumersAs online grocers, marketplaces and food aggregators send their delivery personnel zipping past each other in record speeds to get goods to households, the post-pandemic Indian consumer is ready to switch brands if the race for speed is not kept up.
Almost 42 per cent or 838 consumers in the country are willing to switch retailers if the seller do not “offer new fast and flexible delivery options of goods such as click-and-collect and curbside pickup”, according to an Accenture study of 2,000 Indians.
The global professional services firm’s 16th annual Global Consumer Pulse Research found that 71 per cent of those surveyed in India are coming out of the pandemic having reimagined their behaviours and values as consumers.
Of the 71 per cent, a substantial 59 per cent (or 838 Indians totally) said they would make the switch if delivery options are not suitable.
Noting that that ease and convenience must be table stakes, the report accompanying the findings said consumers are asking: Are you meeting me where I am, in the digital world, the physical world, and through a blend of the two? And are you able to deliver what I need, when I need it, across all channels?
This need for speed has Swiggy Instamart advertising grocery deliveries in 15-30 minutes, Dunzo Daily claiming 19-minute deliveries, while Grofers is reportedly targeting 10-minute deliveries.
The country’s thriving e-commerce and service-based startups have also led to the evolution of a tech-enabled third party logistics and warehousing ecosystem which enable “Amazon-like delivery speeds”.
Meanwhile, the study also found that product origin is becoming increasingly important with 81 per cent of the reimagined consumer (or 1,150 people totally) in India saying they are attracted to brands that source services and materials in highly ethical ways. Additionally, 78 per cent of reimagined consumers or 1,107 people in India are attracted to doing business with brands that are environment-friendly.
The report said consumers are asking: What about the environment, and societal and corporate responsibility? Can you help me make sustainable choices? Can you help me support my local community?
Apart from the usual parameters of price and quality, the pandemic has changed consumer behavior to value health and safety; service and personal care; ease and convenience; product origin; and trust and reputation. “Perhaps even more notable is that these five factors, which have been historically important to the specific demographic groups of Gen Z and Millennials, have now hit a tipping point and are considered critical across the full breadth of consumer demographics,” the report said.
Consumers have reevaluated what is important to them in life and are increasingly focused on their personal purpose. This is having a direct impact on what, how and why they buy, according to the report.
“It is extremely important to become a listening organisation and invest continuously in data and analytics to understand changing consumer preferences,” said Vineet R. Ahuja, managing director and lead - consumer, sales and service, Accenture in India.
Accenture surveyed 25,444 adults from 22 countries across 14 industries between December 2020 and February 2021.
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