Transparency is a crucial factor that influences purchasing habits.
This article states that in order to capture millennial consumers, brands must consider transparency to be a “non-negotiable” factor. The piece cites a report which revealed that almost 90% of consumers consider transparency to be a crucial trait while purchasing.
With millennial consumers being alert about how their buying habits impact the world, they may want to buy from businesses that address social and environmental issues. To cater to these consumers, brands can build lasting loyalty by highlighting their product’s origin stories.
Responding to consumer’s concerns on social media in a timely manner is another method to build transparency. This is particularly true if these concerns are about how a company sources and produces its products. The author also suggests that once a company takes a public stand to support social issues, then these must be followed through.
[6 minute read]