Consumers Today Want Total Value
Monday, August 14, 2017
So long are the days where consumers are just looking for the cheapest products. Consumers are more educated, more environmentally responsible and crave what we call ‘total value’. Total value
includes products that deliver practical benefits like price and quality and
negate buyer’s remorse by providing societal and environmental good.
These products also provide “tribal benefits” that help
consumers feel connected to a larger community that shares their values. Brands that hit on all three categories and effectively
communicate this will be rewarded with the loyalty of these consumers.
Consumers across and all over the world are calling for brands
to innovate saying they would purchase more socially and environmentally
responsible products if only they performed better, reasonably priced and had more
believable claims.
From a corporate perspective this is an opportunity of a
lifetime. The consumer is telling you what they want. Also, consumers are ready to do their part by believing that as a society, we need to consume less and work to improve the environment
and society for the generations to come.
They believe that companies should address social and
environmental issues like water, healthcare, and fair wages through their
products, practices, and policies. They are also interested in lending their ideas, opinions,
and experiences to help companies create better products and new solutions.
By better understanding the aspirations and actions of
consumers, brands have the opportunity to rethink consumption, redefine value,
and re-imagine a more sustainable future. The consumer’s desire to both shop for better products and
help better the planet is clear. If businesses can pass on all the benefits of
corporate sustainability to the consumer, there is a very good chance of
increased sustainable consumption in the future.
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