Report 024, general - fashion - magazines - cosmetics - living - food - sustainable
Marketing & Development
The consumer, especially the younger generation, will not support you anymore if you do not use your power to influence the world in a positive way. It is a new way to have a positive impact, without losing out on the traditional profits.
Vogue is ready to change the world In the September 2020 issue, 20 world-changing activists will be featured on the cover, under the name ‘Faces of Hope’. This shows us that a trend that was already rooting before the coronavirus, has now been catalysted by the lockdowns and the changes the world faces. With the new issue, Vogue shows that the purpose economy is here.
View video Report 024 Fashion embraces the purpose economy by The Lady in Blu
Vogue is fully embracing the purpose economy The September issue from Vogue is usually viewed as the most prestigious of the year. This year, all 26 international editions of Vogue are dedicating their issues to the theme of Hope, and it marks the first time in 128 years of Vogue history that all the editions are consolidating under a singular editorial theme. Vogue’s Hope issue puts the spotlight on the people effecting change across various fields and issues, from systematic racism to disability discrimination, to gender inequality. This is a huge sign of Vogue fully embracing the purpose economy.
We lived in times with too much of everything Leading a company was all based on how much growth you could achieve each year. Producing and polluting massively. We got into a state where something needed to be done. In the past, creating things was about money and beauty. In a purpose economy, a company will not just focus on making money, but using their influence to solve world issues. We used to have a divide between the two, a company for making money, and a foundation for solving problems. The foundations needed to make money so they moved more in between the two. Vice versa, companies realised they could use their power to solve problems in the world.
All products are the same, so consumers will steer their choice based on personal values and political stance Consumers will now start seeing companies more and more as a political party. Consumers agree with something a company stands for, and then buys their product. All products are the same, so consumers will steer their choice based on personal values and political stance. If companies will not follow this, they will phase into non-existence. If a company does not use their power to change the world for the better, they are simply out of the game. Joining the Purpose Economy is the only viable option.
TOMS shoes and Tony Chocolonely’s TOMS shoes for example, hand out a pair of shoes to anyone in need of them for every pair they sell to a regular consumer. This even got upgraded to funding factories in places with little funds so the people there can make their own shoes in a sustainable way, that doubles as an economic boost. Tony Chocolonely’s produced fair-trade chocolate is another good example that has risen to the top in just a few years, out performing classic companies that had been well established for years.
The consumer, especially the younger generation, will not support you anymore if you do not use your power to influence the world in a positive way. It is a new way to have a positive impact, without losing out on the traditional profits.
Note: An interesting book on this theme: The Positive Sum Game - Better for me + better for The World by Herman Toch and Ann Maes