We’re not just talking about a handful of consumers either. Gone are the days when the hippy in the corner was the only one worried. The mindset of the populus is now very much focused on what a business is doing from an ethical perspective, and what impact that is having on the planet.
Brands that have moved towards a sustainable model and offer a stronger positive impact values are staying closely connected to their customers and will benefit from stronger brand loyalty. Could those who refuse to make the move find themselves lagging behind in 2020?
Incredibly, 58% of people are more likely to purchase from a brand they know practices sustainable habits. And 49% of people are willing to pay more for brands that are socially aware. Those numbers, and a whole host of other stats like this are only going one way. Upwards.
Greta Thurberg’s speech about the state of the planet will only see the 70% of young people who would stop buying from brands that act unethically on issues they care about increase.
Banks and energy companies alike, which see their customers’ hitting the switch button more frequently than ever, will be interested by the fact that 61% of people say they’re likely to switch brands if they realise the one they’re using isn’t environmentally friendly. Customers are demanding action, not buzzwords and false promises.
Social impact creative consultancy Fox & Hare recently joined the likes of Ben & Jerry’s, Bulb and Hootsuite in applying for B Corp status which commits to balancing purpose with profit.
Not only are we in a fight for customer’s attention, but a fight for the future of the planet. Business means nothing, if we don’t have a planet to live and thrive on. We want to champion businesses that are doing their best to make a positive impact - and that’s how our marketing agency is choosing to use our skills in the fight moving forward."
Co-Founder, Ben Fox
We have a unique opportunity - and a responsibility - to support brands by using our collective influence, knowledge, capabilities and technologies to help fix some of the world’s most pressing challenges."
Fellow Co-Founder, Craig Hares