62% of Consumers More Likely to Choose a Brand That Makes a Stand
It's already been widely reported that health-focused brands and products have performed well during the COVID pandemic. Supplements, particularly immunity-based products, have been tipped for a record year. Sales of organic and plant-based food have also been strong since lockdowns have been imposed around the world.
Now comes research showing that current high levels of values-led purchasing from consumers extend well beyond a health proposition.
A new study by NEXT Data & Insights (part of the New Hope Network) finds that an “incredible 62% of consumers” say they are more likely to buy from brands that publicly stand for causes that are important to them, while 52% want brands to take a stand on social justice and equity issues. Meanwhile, 47% of consumers say they are motivated to build a fairer and more compassionate world post-COVID.
While ‘health’ tops the issues that consumers want brands to take a stand on (63%), ‘environment’ (57%) and ‘social equity’ (52%) are not far behind according to the NEXT study, with social equity and justice making the biggest gain in 2020 (up 74% over 2019 for the period covered).
NEXT predicts that these consumer preferences are here to stay. In a commentary, it says: “In a year of uncertainty, one thing is clear; consumers are willing to spend their money with companies that share their values”.
About the author: Jim Manson
Jim Manson is editor-in-chief of Diversified Communications UK‘s natural and organic publishing portfolio. He’s written widely on environment and development issues for specialist magazines and national media, including the Financial Times, The Guardian, The Times, and World Bank Urban Age.
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