68% of people have stopped supporting brands that don’t share their principles, according to new research.
Toluna’s ‘Understanding the 2021 Consumer’ Global Barometer Study is a bi-weekly index that taps into a community panel of 30+ million members providing accurate and timely information on the world’s current perceptions. The latest research surveyed 1,032 respondents in the UK.
Purpose driven brands win
If we’ve learnt anything in the last 12 months, it’s what we value. This is especially true when it comes to brands and choosing brands to support and spend money. We want, and expect, brands to be more environmentally and socially conscious and behave in a compassionate and responsible way.
When asked about brand values, people in the UK hold a very strong view:
• 84% of those surveyed believe brands should be accountable for their actions • A significant 79% of people said that they make a special effort to buy from brands that are aligned to their personal values • Tellingly, 68% of us have stopped supporting brands that don’t align with our personal values
When choosing brands, we’re very specific about what values we think brands should have:
• 80% of people surveyed believe brands must be environmentally friendly and also humanitarian • 78% said it’s important that brands have a strong sense of community • 73% of those surveyed said it’s important that brands support racial equality • 71% also agreed that it’s important that brands support gender equality Optimism about spending
Despite a year of restrictions and repeated lockdowns, people in the UK are feeling positive with 70% of those surveyed feeling optimistic about the future.
When restrictions lift, many of us are looking forward to spending money by doing activities that we haven’t enjoyed for a long time. When people were asked about what they’re planning to do first, in store shopping, dining out and personal care activities were high on the agenda:
• 43% of those surveyed can’t wait to visit physical shops again and shop in store • 36% of people are looking forward to eating out • 35% of us plan to visit a hairdresser as soon as we’re able to
Richie Heron, VP Product Methodology Toluna said: “The pandemic has taught us a lot about ourselves, including what we value as human beings and what matters the most to us. We want, and expect, brands to have the same values as us and take accountability for their actions. Brands need to raise their game. They must demonstrate their ethical, environmental and social conscious to consumers in a loud and clear way. They must show consumers what they stand for and what their purpose is. This is what people are looking for – real, authentic brands who hold similar personal values to them. It’s the only way for brands to achieve lasting customer loyalty.”
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