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It’s time for more collaboration, more excellence, and a reframing of what conscious consumerism can mean. By Heath Shackleford vcvic Fast Company • Reposted: January 14, 2024
If you are a longtime supporter of the conscious consumerism movement, this may be the moment you’ve been waiting for. Despite growing pessimism about the state of the world, Americans are engaging socially responsible brands at an unprecedented level. It seems we are approaching critical mass, and we are on the precipice of a tipping point for “good” business.
These assertions are based on findings from the 11th annual Conscious Consumer Spending Index (#CCSIndex), a benchmarking study our agency fields each year to gauge momentum for conscious consumerism, charitable giving, and earth-friendly practices. Using a proprietary algorithm, we generate the Index score based on the importance consumers place on purchasing from socially responsible brands, the actions they’ve taken to support such brands, and whether they plan to buy more from good brands in the future. Specific questions that influence the Index score include:
- How important is it for you to support socially responsible products and services?
- Have you purchased products or services from socially responsible brands in the past year?
- Do you plan to increase the amount you spend with socially responsible brands in the coming year?
In light of the economic, political, environmental, societal, and humanitarian crises we face as a world, it should not come as a surprise that Americans continue to feel worse about our collective future. In this year’s study, almost half (48%) of respondents said the world is getting worse. The first year we asked this question was in 2019. Only 38% had a pessimistic view at that point. (Read about last year’s results here.)
Yet in the face of this declining outlook, the ideology of supporting brands who promise to make the world better is clicking at a quickening rate. The latest #CCSIndex score is 57, up from 48 the previous year. In the inaugural year of the Index (which was 2013), the score was 45. The index is based on a 100-point scale and is fine-tuned so that even a 1-point shift indicates real movement. With that context in mind, seeing a 17% increase year over year is significant.
Here are a few things to consider for companies that are looking to capitalize on this moment:
COLLABORATION OVER COMPETITION
We’ve reached an opportunity for scale within the community of B Corporations as well as other organizations such as Conscious Capitalism and the Social Enterprise Alliance. We need to collaborate more consistently and effectively within the social responsibility space and resist the capitalistic temptation to compete with one another. Now is the time to fuel the consumer fire. We need to do that together.
COMMIT TO EXCELLENCE
We must continue to live up to our promises and deliver exceptional experiences for our customers. It should always feel different when someone engages with a socially responsible brand. Every interaction, every experience—without exception. This goes for product quality, customer service, and every point along a customer’s journey. In our data, individuals have consistently shown us that purpose alone is not enough. Brands have to first meet their needs as consumers. What if we set the expectation that the definition of a purposeful brand extends not only to the company’s mission but also to its commitment to excellence and doing all the right things for customers along the way? That’s how we build long-term loyalty with consumers and keep this train moving.
ENCOURAGE THE INTRAPRENEURS
We need to continuously apply more pressure to big brands to be part of the solution. We can do that by making conscious organizations more and more attractive for talent and for customers. We can also do that through intrapreneurs. Too often, we determine the only two paths that lead to a purposeful career are either working for a socially responsible organization or starting a new social enterprise.
There is a third, and very important, path though. We need mission-minded people climbing ladders within major corporations as well. Some big brands may eventually crumble if they don’t respond to the conscious consumer movement, but many will continue to operate, and they will always have an outsize impact on society and the environment. It is important to have changemakers embedded in these companies to help steer them toward a better future.
DEFINE THE JOURNEY
We have to position social responsibility as a journey, not a destination. This would be beneficial on a few different levels. For one, it would help consumers who are new to this to not be overwhelmed. We can reinforce that every step counts, and that every little bit helps. Not everyone is going to transform the entirety of their consumer behavior overnight. We should create a safe space where we positively reinforce progress. At the same time, positioning this as a journey also helps prevent more experienced conscious consumers from becoming complacent and feeling like they’ve reached the peak of social responsibility.
After all, being socially responsible is not just about buying the right product. It’s also about supporting nonprofits. About reducing consumption. About protecting the environment. About being an advocate for the do-good movement and recruiting others to join.
As conscious consumerism has ascended over the past decade, we’ve seen a decline in the number of Americans who are financially supporting charities. We also have seen a reduction in the percentage of individuals who are committed to earth-friendly practices such as recycling and reducing consumption. We need to continue to educate consumers and nudge them to delve deeper into this journey. There is always another step every consumer can take.
Heath Shackleford is the founder/kick starter of Good.Must.Grow. a socially responsible marketing consultancy that helps social companies and nonprofit causes succeed. To see the original post, follow this link: https://www.fastcompany.com/90987296/morgan-housel-explains-why-we-should-focus-on-the-things-that-never-change
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