Cannes Lions

What Makes a 'Living Business'? Staying Relevant and Remaining Flexible

Companies risk missing out on $1 trillion in revenue if they aren't

business-flexible-CONTENT-2018 — 65% of the times consumers switched brands, it was to pursue more relevant offerings, new Accenture research shows. Getty Images

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Consumers are fickler than ever, and U.S. businesses that can’t adjust are at risk of missing out on a serious amount of revenue, according to new research released today from consulting and business services firm Accenture.

Becoming irrelevant is a surefire way to lose consumers and revenue opportunities, according to the study, which was released at the Cannes Lions International Festival of Creativity. One in four consumers said they would stop doing business with a company entirely if it was no longer relevant to them, and nearly 65 percent of the times consumers switched brands, it was to pursue more relevant offerings.

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