NEWS4 June 2018

Brand ethics gaining importance among shoppers

News Trends UK

UK – Only 50% of consumers can name a brand that they associate with good causes, according to the latest research from MediaCom.

Business ethics_Crop

When deciding which brands to buy, good value for money and quality are people’s top priorities although the number of people prioritising cost and quality has fallen since last year.

Brand ethics are gaining importance – 67% said they would pay more for environmentally-friendly products and 81% said brands should be held accountable for their environmental impact. Sixty per cent would pay more for brand which give  back to the local community.

The study from MediaCom’s Social Change Hub, involved surveying 2,000 people.

Sue Unerman, MediaCom’s chief transformation officer said: “The findings around environmental issues are particularly interesting. It is a hot topic for consumers – something that we have started to refer to as the David Attenborough effect. People want companies to clean up their act, especially when it comes to the overuse of plastics. Tapping into this is key to differentiating yourself from the competition.”

“More businesses than ever before are aligning themselves with a cause to convince consumers that they hold genuine values as a company. However, communicating brand purpose is not hitting home in many cases.

“Worryingly, at the same time more people expect a brand to give back to society, just half of the respondents can name a brand that they associate with good causes, compared to the two thirds of respondents who could do so in last year’s research. But brands cannot afford to give up and put purpose in the ‘too hard’ basket. They need to prove they are investing in causes that resonate with their customers, and that they are committed for the long term.”