Millennials’ ethical consumerism doesn’t put a price on value-rich and sustainable products

New Ideas in MarketingEssential news for marketers, summarised by YouGov
November 04, 2019, 2:13 AM GMT+0

Businesses must establish a reputation for environmental stewardship and social responsibility.

Millennials are now more conscious, aware and decisive shoppers that their predecessors. They look for more than just quality when buying or investing, they constantly look for brands that have a purpose that resonates with them. Being ethical consumers, they don’t believe in putting a price on value-rich products that offer sustainability.

The rapid growth of technology and gadgets makes information available to millennials in real-time. They are more familiar with global trends, sustainable and ethical practices that directly impact their consumption patterns.

To win over millennials, they must buy into a brand’s story. Companies must build a reputation for environmental stewardship and social responsibility to gain customer loyalty while having a positive environmental impact.

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