The Conscious Consumer Era has arrived. ARE YOU READY?
Late last year we released new research with Di Marzio Research that reveals - despite the turmoil in the economy created by COVID, rising unemployment and lockdowns - consumers are insisting that companies and brands do more to support causes
The research report entitled ‘The Conscious Consumer era arrives. Finally’ shows that almost half of Australians feel let down by corporates who are failing to meet their societal obligations, and 2 in 3 Australians believe that corporates should be doing more to solve societal problems in tough times.
During COVID consumers have reflected on the kind of world they want to live in, and realised that the most powerful weapons they have to create positive social change are their voices (through petitioning and campaigning on social media), and their wallets.
Almost half of Australians say they will switch from their normal brand to another brand if it supports a charity, and in the past year, one-third of Australians have actively boycotted a company or brand with a poor record of social responsibility. While Millennials (people aged 25-39) have long been the trailblazers of the conscious consumer movement, what’s shifted significantly is the attitude of Generation X (people aged 40-55) and Baby Boomers (aged 56-73).
This report confirms that the conscious consumer movement is now mainstream, as customers from across Australia and all age groups, are demanding that corporates and brands actively engage in solving societal problems. Non-profits and social enterprises are well positioned to help them achieve this, so there’s a great opportunity for YOU to form genuine, long term mission-driven partnerships with the corporate sector this year and beyond.
The response we expect to see in 2021 are more companies and brands seeking to embrace Corporate Social Responsibility and the Triple Bottom Line model and more corporate-charity partnerships that fulfil societal as well as business goals.
The study also reveals Australians’ intention to switch brands to support a cause in the future, and the top six causes that motivate consumer switching behaviour.
(Enviro vs. Medical) What do you think is the top cause motivating switching behaviour?
This report is compelling evidence that conscious consumerism is now mainstream and that companies cannot continue to focus on just financial performance. Non-profits have a unique opportunity to help reshape the role of businesses in society.
More than ever non-profits must clearly articulate the problem they solve and demonstrate they’re professional and adaptable, because this is what corporates and brands will be seeking, along with mutual benefit.
To see the compelling research and statistics, download the report here.
Savvy corporates will be willing to invest, but will you be ready to partner? Do our Readiness Q&A today to see if your organisation is corporate partnership ready.
Georgia McIntosh
Background
The study was conducted by Di Marzio Research in on 30/31 August 2020 using an online Omnibus survey with a sample size of 1,004 people across Australia.
