To meet consumer demands for instant actions, organizations will need to resort to what Accenture calls “smartcuts,” which involve making quick, intuitive, savvy choices to achieve a goal.
A new report out of Accenture says we are in the age of the “impatient economy,” in which consumers won’t wait on sluggish processes or slow websites to get what they need at the moment they need it. Enter the idea of “smartcuts.”
In the impatient economy, the biggest wins go to those who can deliver services or information at lightening speeds. “Consumers are going their own way, finding quick solutions via relatable online content to satisfy their growing impatience to achieve life goals,” the report, Accenture’s 2025 Life Trends report, states.
The Accenture team of authors, led by Nick Law and Katie Burke, call the consumer use of technology to get what they need in a timely manner “smartcuts,” which involve “making quick, intuitive, savvy choices to achieve a goal.” The conclusions are drawn from the input of designers, creatives, futurists, technologists, sociologists, and anthropologists across more than 50 design studios and creative agencies – accompanied by a survey of 24,295 consumers.
A majority of consumers surveyed, 55%, prefer quick solutions over traditional methods, “and many are willing to explore riskier routes to achieve their health and financial goals.”
For example, in healthcare, “self-diagnosis is on the rise, driven in some cases by the cost of seeking medical advice and in others, by long delays in investigations, the report states. “People also seek help from social media, which is faster than waiting for an appointment, and houses volumes of advice from people experiencing similar symptoms.”
In terms of finances, “on social media and other platforms, people are discovering peer-to-peer financial education through billions of videos under hashtags like #passiveincome and #financialfreedom,” the report states. “Subreddits, podcasts and local forums share similar advice, and the fact that young people make up much of the audience for these forums has an impact on the financial world.”
A Smartcuts Plan of Action
How can product and service providers keep up with impatient consumers doing these workarounds around traditional channels? Start by “offering simple, convenient solutions alongside more thoughtful options for those who want to be more considered.”
Many companies have been slow on the draw to engage with the rising ranks of impatient consumers. “Trusted institutions have the right message but not the right medium. Social platforms have the right medium but not always the right messages,” Law and his co-authors state. “There is an opportunity here to serve an unmet need by delivering trusted information via the right channel, with a relatable, person-to-person quality.”
This calls for a personal touch blended with responsive technology. Ultimately, organizations “need to understand how and where to use technology when helping people to achieve their goals.” they advise. “The evidence above points to people wanting peer-to-peer or at least person-to-person contact. Technology can be used to empower or facilitate engagement, but machines used in place of people will likely have a detrimental effect on trust. Companies that have been viewing direct customer relationships as a cost – and treating them as such – will need to take a hard look at whether this strategy will soon diminish growth and profits in this new context.”
