Conscious Consumerism isn’t a new market — it has been an acknowledged consumer behaviour since the early 1970s. It is, however, no longer a peripheral market segment. Instead, it is fast becoming one of the most important markets for businesses. In simple terms, consumers today are more likely to commit to purchases that align with their values and have a positive social, economic, and environmental impact.
A recent study by the IBM Institute for Business Value found that one-third of global consumers abandon even their favourite brand if it doesn’t align with their values. While an industry-led survey found that 65% of Gen Z say they will pay 48% more for products and services that align with their values. With Gen Z fast becoming the UK’s biggest consumer market, businesses across almost every sector are acting.
How a product is made, its provenance and its impact on the planet are just some of the answers consumers look for before committing to their purchase. Suddenly, loyal consumers want to understand the ethics of the brand before making further purchases, and they are increasingly likely to switch to businesses with a value-driven message.
This approach to purchasing goes beyond a clean, ethical product offering; conscious consumers want to understand a business’s ethos and values — they want to feel connected to the brand. Before committing to the purchase, they consider a business’s reputation in terms of working practices and wages, the production process from raw material to its carbon footprint. They can do all this at the touch of a button with platform businesses.
We believe there is an opportunity to combine our value-driven approach to business with our experience in communication and strategy, e-commerce, and digital marketing to put SMEs across the Highlands and beyond at the heart of the conscious consumer market by telling their positive impact story through curated media packages and by promoting their business on our own platforms including the Good Business Podcast.