It’s already been widely reported that health-focused brands and products have performed well during the Covid pandemic. Supplements, particularly immunity-based products, have been tipped for a record year. Sales of organic and plant-based food have also been strong since lockdowns have been imposed around the world.
Now comes research showing that current high levels of values-led purchasing extend well beyond a health proposition.
A new study by NEXT Data & Insights (part of the New Hope Network) finds that an “incredible 62% of consumers” say they are more likely to buy from brands that publicly stand for causes that are important to them, while 52% want brands to take a stand on social justice and equity issues. Meanwhile, 47% of consumers say they are motivated to build a fairer and more compassionate world post-COVID.
While ‘health’ tops the issues that consumers want brands to take a stand on (63%), ‘environment’ (57%) and ‘social equity’ (52%) are not far behind according to the NEXT study, with social equity and justice making the biggest gain in 2020 (up 74% over 2019 for the period covered).
NEXT predicts that these consumer preferences are here to stay. In a commentary, it says: “In a year of uncertainty, one thing is clear; consumers are willing to spend their money with companies that share their values”.