Your Company’s Social Goals May Not Be Driving Your Business as Much as You Think

Your Company’s Social Goals May Not Be Driving Your Business as Much as You Think

In 2022, it’s expected that brands do more than just market, sell and turn profits. The rise of Gen-Z, with their collective spending power of $360 million, champions more inclusivity, diversity and action from brands than ever before. 

But how you treat your customers continues to reign as the top reason consumers–Gen Z included–patron your business. Globally, 94 percent of customers consider how well a brand teats its consumers before making a purchase, per a 2022 report from eMarketer and Insider Intelligence. The consumer experience ranks number one, followed by treatment of employees (85 percent) and environmental practices (78 percent). Another 73 percent of consumers said a brand’s response and actions towards events of racial injustice impact their decision to buy from a company. 

Despite many consumers ranking global concerns such as the environment, social issues and employee treatment as considerations before making a purchase from a brand, data suggests that the messaging doesn’t translate to their wallet. Only 27 percent of customers worldwide reported switching brands to better align with their personal values. 

Instead, half of worldwide consumers reported recently switching brands to obtain better customer service, making it clear that how you treat your consumer base is still important. Better brand deals and product quality were other reasons customers looked elsewhere for their needs. 

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Last Update: Thu, 21 Jul 22 12:40:06