There is increasing evidence that brands need to be socially responsible these days. Every purchase decision that we make says something about us as consumers. To help us shop with a clear conscience we look to companies and brands that are honest and transparent in everything they do and say. The GfK Roper Consulting global trend of ‘Considered Consumption’ shows that today a staggering 79% of consumers agree that they only “buy products and services that appeal to their beliefs, values or ideals” with increasing numbers of people claiming that “where and how a product is made is very important to me”.
Theme #2 Considered Consumers value Quality
Considered Consumers are prepared to compromise. Around the world, consumers who are considered to be “High Impact” for the Considered Consumption Trend are much more likely to agree with the statement “I would prefer to buy fewer, higher quality items” – 58% of global consumers agree with this statement. These consumers are prepared to make a trade-off: It’s not all about low prices for low quality items – a sizeable proportion of consumers will trade the quantity of items they own for better quality of both product and experience. This plays into the success of brands such as Hermès which recently cited growth in revenue terms in excess of 18%. Hermès went to market in the second half of 2011 with a communications campaign that draws upon their history of delivering cutting- edge styling throughout the life of the brand. The tagline ‘Contemporary Artisan since 1837’ draws together the elements of heritage (in the use of the year “1837”), quality (inferred by the term “Artisan”) and current thinking (through defining their products as “contemporary”).
In tomorrow’s world, brands don’t really have a choice but to be socially responsible. It is crucial to consider the Considered Consumption mindset before, during and after production. Brands must embrace transparency, deliver quality and harness the power of influence. And finally, global values messages will need local execution, which of course has never been more important yet harder to achieve. For more details on the Considered Consumption trend, contact us.