Five social trends that also affect business

Nearly two years of social upheaval have resulted in fundamental changes in people's relationships with work, consumer behavior, technology and the planet. Companies must respond to new societal trends, address the associated challenges and develop new business models. This is the conclusion of the annual Fjord Trends report from IT consultancy Accenture. The study is drawn from Accenture Interactive's global network of more than 2,000 designers and thought leaders in more than 40 locations.

Creating living environments for the good of the planet...

Employee expectations and mindsets are changing, disrupted supply chains are creating bottlenecks, and new virtual environments like the Metaverse are emerging. The cornerstones of our society have been under extreme stress for the past two years - and that is now taking its toll, the study's executive summary says. While one can see the challenges that lie ahead, one nevertheless believes that this situation offers unique opportunities to shape new forms of society and ways of living. "The magnitude of this change in relationships as we are experiencing it should not be underestimated - nor should the role of companies responding to the development," explains Hartmut Heinrich, Group Director Fjord at Accenture Interactive. "Future corporate actions can have global implications. All indications are that we humans will perceive this and incorporate it into our relationships - be it with colleg:es, brands or society - and make fundamental changes when necessary. Therefore, challenging times lie ahead for companies, but also great opportunities. Companies can forge positive relationships to create a living world for the good of people, society and the planet."

Five social trends

Fjord Trends 2022 analyzes five human behaviors and trends that will impact society, culture and business:

1. Come as you are: Self-Determination in the Collective: In the last two years of the pandemic, many people have increasingly developed a sense of empowerment. It affects the way they work, conduct relationships and consume. They are asking themselves who they are and what is important to them. Individualism is on the rise and manifests itself in a "Me over We" mentality. This trend has profound implications for how companies manage their employees, offer them new value propositions, and cultivate relationships with their customers.
2. The end of abundance thinking? On the finiteness of things: Over the past year, many people have experienced empty shelves, rising electricity bills and shortages in everyday services. Supply chain shortages may be a temporary challenge, but the consequences will linger. The so-called "abundance mentality" - characterized by permanent availability, convenience and speed - will give way to growing environmental awareness. Companies will have to deal with the fear of supply shortages felt by many people around the world.
3. The next frontier: The Metaverse expedition: The Metaverse is a cultural revolution that is about to break through. It breaks the boundaries of the Internet as we know it and connects all existing information layers, interfaces and spaces with which people interact. These expect companies to help shape and guide this new place - where people can make money, new professions are created, and brands can position themselves. The metaverse won't just exist through screens and headsets - it will also be about experiences and places in the analog world that merge with the digital world.
4. This much is true: trust in uncertain times: People today expect to get answers to their questions at the touch of a button or through a brief exchange with a voice assistant. This process is so easy and fast that people ask all the more questions. Brands are reaching out to their customers with more and more questions across an ever-increasing number of channels. How these questions are answered is a major design challenge and critical to building trust and gaining competitive advantage.
5. Handle with care: Caring as a corporate promise: Over the past year, care in all its forms has received increased attention: self-care, care for others, care services, and channels that deliver care, both digital and physical. This new perspective presents opportunities and challenges for employers and brands, regardless of their experience in the healthcare industry. The responsibility to care for ourselves and others will continue to be a priority in our lives - and designers and companies alike must create the space to do so.

Transforming social trends into business strategies

"Consumers are rethinking all their relationships. As a result, brands have to tackle two big tasks at once: taking care of the world in the here and now, while shaping their own future in a way that's good for the planet, good for business and good for society," explains David Droga, CEO and Creative Chairman of Accenture Interactive. "To do this, understanding the impact of these relationships and expectations and translating them into effective business strategies is key. That's how we can drive relevance and growth."

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