TrendSights Analysis: Social Responsibility; Understanding the issues and impacts of socially responsible consumption
Social Responsibility has been a growing trend in the FMCG market in recent years as manufacturers, suppliers, brands, and consumers strive to limit the negative economic, social, and political effects caused by their actions. It is increasingly driven by consumer demand for brands that the right thing and their desire to live a more ethical lifestyle that they believe benefits their personal wellbeing. As a result, brands have been trying to reposition themselves and their products as more ethical to appeal to discerning consumers that want high-quality FMCG goods that are more responsible to the environment, workers, and communities. This is especially influential for the food, non-alcoholic drinks, alcoholic drinks, personal care, and pet care categories.
Women are the gender most influenced by this trend: 62% of global female consumers find products with ethical attributes appealing.
The key age group for this trend is 18–34 year olds, with 61% of them finding these products appealing.
21% of global consumers believe that food with ethical credentials is better quality and more premium than non-ethical alternatives.
70% of Latin American consumers have favorable perceptions of products with ethical claims, compared to 49% of North Americans.
TrendSights Analysis: Social Responsibility provides insight into how brands and consumers are placing more emphasis on ethics to benefit brands, consumers, and workers throughout the supply chain. Brands can use this trend to grow sales by positioning themselves as the solution to consumers who want luxurious, high-quality products that positively impacts the communities they operate in throughout the world.
Your key questions answered:
How relevant is Social Responsibility to my market?
What does Social Responsibility mean to my category?
What trends are driving and limiting Social Responsibility consumption?
Which Social Responsibility opportunities should I target?
Reasons To Buy
Understand which audiences, categories, and products are most affected by the Social Responsibility trend.
Compare the presence of this trend in each industry across the FMCG space and learn what the key opportunities are.
See the actions of brands trying to target the best Social Responsibility opportunities and the results that they have seen.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook