Over 60% of adults in Canada, the US and Europe want brands to be transparent about their practices, as per a recent Forrester report.
As COVID-19 moves sales online, brands selling exclusive products or through private labels will flourish outside of online marketplaces. Businesses that sell directly on their own channels will be more sought after among consumers after the pandemic.
For example, Disney has withdrawn distribution from Netflix to make its content more exclusive via its Disney+ private label. The report states, as the market power of value-based consumers increases, brands should build a systematic values strategy to meet their expectations.
21% of US adults research about a company’s position on corporate social responsibility (CSR) to ensure it aligns with theirs before purchasing. Brands with reinforced marketing strategies, strong websites and consumer data will be better positioned to prosper.
[2 minute read]