fashion - living - general - sustainable - food - cosmetics
Report 040 / 2020-12-01
The Purpose Economy is now really becoming mainstream. Consumers who are shopping for something will be overwhelmed by options which are all similar in price and quality. Consumers know about inequality in the world, environmental issues, forced labour etcetera. With this in the back of their heads, consumers will choose a product that lines up with their beliefs. They vote with their wallets on products like they would on a political party.
If a consumer feels that a company uses their power to solve specific problems in the world, they will be more inclined to choose your product. If a company does not follow this, their products will eventually fade into obscurity. If you’re only in it for the money, your product will simply not be bought. To a consumer, it’s okay to make money as long as you use your power, or even some of your profits, to make a positive impact on the world.
Be sure to have a positive impact on the world. The world will be pleased, the consumer will be pleased, and the company will be pleased.