So long are the days where consumers are just looking for the cheapest products. Consumers are more educated, more environmentally responsible and crave what we call ‘total value’. Total value includes products that deliver practical benefits like price and quality and negate buyer’s remorse by providing societal and environmental good.
These products also provide “tribal benefits” that help consumers feel connected to a larger community that shares their values. Brands that hit on all three categories and effectively communicate this will be rewarded with the loyalty of these consumers.
Consumers across and all over the world are calling for brands to innovate saying they would purchase more socially and environmentally responsible products if only they performed better, reasonably priced and had more believable claims.
From a corporate perspective this is an opportunity of a lifetime. The consumer is telling you what they want. Also, consumers are ready to do their part by believing that as a society, we need to consume less and work to improve the environment and society for the generations to come.
They believe that companies should address social and environmental issues like water, healthcare, and fair wages through their products, practices, and policies. They are also interested in lending their ideas, opinions, and experiences to help companies create better products and new solutions.
By better understanding the aspirations and actions of consumers, brands have the opportunity to rethink consumption, redefine value, and re-imagine a more sustainable future. The consumer’s desire to both shop for better products and help better the planet is clear. If businesses can pass on all the benefits of corporate sustainability to the consumer, there is a very good chance of increased sustainable consumption in the future.