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Diving brief:
- Consumers in the United States are concerned about the quality, fair pricing and reliability of products more than the political or ethical values of a brandAccording to a new survey by Kearney Consumer Institute.
- While 39% of consumers said they had boycotted a brand in the past 12 months, 79% of consumers interviewed said they thought that “it is less important for a brand to express its values than to meet quality expectations”, according to the report.
- However, 68% of consumers interviewed said they thought that brands should express their values, and 51% of consumers said they had stopped buying from a brand that did not line up with their values.
Diving insight:
Kearney Consumer Institute is an internal reflection group of the Kearney consulting group. The report, entitled “Weighing value with values”, questioned 1,000 American consumers in May who represented the general population in terms of demography, according to a spokesperson.
Research explored the gap of intention Between what consumers say and how they really behave, according to a press release that accompanies it.
KCI directs Katie Thomas said that many consumers to the price and value of the product compared to values based on decisions.
“Despite the big media threw around boycotts, consumers do not seem to vote more and more with their portfolios,” said Thomas, who led research in the press release. “Consumers feel the pinch right now – the money is tighter, the weather is tighter – and they will buy how, where and as it suits them best.”
Purchases according to values are sometimes more expensive, according to 80% of consumers questioned, and 71% have said that purchases by values are sometimes or generally less practical. In addition, 65% said they did not have time to search for brands that line up with their values.
Thomas said that the low notes of consumers of politically motivated factors, in particular diversity, equity and inclusion commitments, labor practices and brand policy, illustrate “the relatively minor role in consumer activism” or consumers who do their shopping by their values.
“We have seen underperforming companies trying to blame the boycott and other factors based on external values for their suffering, when in reality these factors affect everyone,” said Thomas.
Thomas has added that the values of a brand should come from who is the company, rather than the way consumers could perceive them. For example, an organization can lose consumer confidence if it expresses public support for a movement but whose internal structure – leadership, employee resources, suppliers and sellers – does not reflect this ethics, according to the report.
“Too often, the company’s value proposal is disjointed from the brand’s values, which can issue ambitious promises high to the consumer,” said Thomas. “Adopt a value approach without focusing on the fundamental principles of the risk of losing the consumer.”