RSS feed Get our RSS feed

News by Topic

BizReport : Loyalty Marketing : May 23, 2017

60% of Millennials will pay more for a brand that has positive impact on society

Social consciousness is leading to four in ten consumers abandoning brands that they do not feel make a positive impact on society, according to new research from Mediacom.

by Helen Leggatt

Forty percent of U.K. consumers have ceased to use, or avoided altogether, a brand they feel does not speak to their values, while 35% had specifically purchase a brand because of its values and beliefs.

However, Mediacom's research also found that even brands that have their hearts in the right place are facing a challenge. Many consumers said they were sceptical of brands that claim to support good causes, while two-thirds (65%) think brands overstate their environmental credentials.

Those brands that can convince consumers of their good deeds will find a growing audience of socially-conscious consumers among Millennials. Mediacom's research found that 60% of consumers in this age group are willing to pay more for a brand that has a positive impact on society, and half (49%) will decide on a brand specifically for its values and beliefs.

"As a society, we are heading towards mass adoption of purpose," said Pauline Robson, managing partner and head of Real World Insight, MediaCom's research arm.
"The fact remains that a brand's purpose is hugely influential in attracting an audience and a customer base."

Tags: brand marketing, loyalty marketing, Millennials, research, UK

Subscribe to BizReport

  • Nice to read, Helen. More than 50% millennials look for the specific brands and would like to pay even more for them. That is the reason why we’ve seen a hike in customer base and revenue for a few well-known companies only.

  • JustMe

    Re: "60% of consumers in this age group are willing to pay more for a brand that has a positive impact on society" Intent is nice, especially in youngsters to think they can change the world with intent.

    Follow up question: ARE Mills paying more NOW, right now, for brands with positive impact? $ where their mouth is? Walking the talk? There MUST be some companies out there who are right NOW having a positive world impact... who are those companies & who are the Mills blowing the financial doors off these companies with loyal $$$ support.
    Or, is it more likely all image & talk, since Mills would have to take the time to research supply chains on a regular basis to even KNOW of companies who have a positive impact in a sustaining way (vs PR stunt).

    I call the bluff of Mills. If they walk the talk, them why are they in hoards supporting fast fashion... selective conscience?



Copyright © 1999- BizReport. All rights reserved.
Republication or redistribution of BizReport content is expressly prohibited without the prior written consent.
BizReport shall not be liable for any errors in the content, or for any actions taken in reliance thereon.