Here at Webgains<\/a>, we have created our \u2018Future of Retail\u2019 blog series, focussed on five key insights that we believe will shape the marketplace. The third trend that we explore here, is the resurgence of conscious consumerism and mindful marketing.<\/p>\n\n\n\n Consumers are expressing their desire to shop more ethically and sustainably. However, the convenience and easy access of mainstream marketplaces; coupled with low-price points, makes it challenging for customers to make the switch. The Shopify Future of Commerce 2021 report<\/a> highlights that 62% of young consumers prefer to shop for sustainable and green products. Gen-Z are noted to be the most likely demographic to vote with their wallet, based on a brand\u2019s ethical credentials and social standpoint.<\/p>\n\n\n\n Discoverability is an important factor for SMEs who sit within the ethical and sustainable category. Affiliate marketing provides a unique opportunity to find these customers. Webgains’ Affiliate Discovery<\/a> tool matches brands to the right publishers and influencers based on their niche. Building a diverse portfolio of publishers from closed incentive groups, CSS partners and content sites. Affiliate Discovery makes smarter connections to guarantee x5 more sales growth.<\/p>\n\n\n\n According to PwC<\/a>, in their June 2021 Global Consumer Insights Pulsey<\/a> survey, there was a significant increase in consumers who worked from home opting to buy sustainable products. This could be linked to those reporting to be more health-conscious since the pandemic started. Interestingly, working from home hasn\u2019t had adverse effects on health and fitness, instead consumers working from home have more control over their day-to-day agenda, therefore spending consciously in the grocery, health and beauty and sports and fitness verticals while managing their lifestyle in a different way altogether.<\/p>\n\n\n\n The data in PwC\u2019s survey further indicated that interest in green products is still aspirational. The biggest barrier of this trend going from niche to norm are price points, quality and convenience, alongside a cultural shift. As the practice becomes more widely adopted, only then will consumers be able to turn aspiration into action by voting with their wallets.<\/p>\n\n\n\n There is a better way to do business in the 20s and BCorp<\/a> is a movement that is gathering great pace. Certified B Corporations balance purpose and profit. This accreditation ensures that corporations use business as a force for good, analysing their impact across various parts of production from employees and consumers to suppliers, community and the environment. The BCorp certification ensures accountability every step of the way.<\/p>\n\n\n\n A global pandemic may seem like an unlikely time to improve one\u2019s ethical credentials, but the BCorp movement is taking precedent. PwC have reported an 89%<\/a> uptick in average monthly certification since March 2020. Since 2019 there are now 425 Bcorps in the UK with household names such as, Jamie Oliver and Riverford joining the ranks. <\/p>\n\n\n\n This global movement ties in neatly with Mary Portas\u2019<\/a> discussion on the emergence of the \u2018Kindness Economy\u2019<\/a>. Retail aficionado, Portas, argues that the customer is your brand ambassador, and for the past thirty years retail has overlooked the importance of customer loyalty by putting profit before people and the planet. She now believes that we\u2019re entering an age of kindness where businesses are putting this model in reverse. Webgains\u2019 Global Head of Strategic Growth, Mumtaz Khamker, echoes this prediction:<\/p>\n\n\n\n \u201cI read that <\/em>Beales<\/em><\/a> has struck a deal with the NHS to turn the top floor of their Poole store into a health village that will be used for testing and screening for specialist sectors such as dermatology, ophthalmology and breast cancer; thus reducing hospital waiting times. This is a fantastic move and shows great social responsibility \u2013 more retailers should be doing deals like these that benefit the wider community.\u201d<\/em><\/p><\/blockquote>\n\n\n\n MORE FROM MUMTAZ<\/strong><\/p>\n\n\n\n Mumtaz featured in our recent web session for MAD\/\/Fest ‘Why would you kill your best performing channel?’ You can watch it on YouTube by clicking the button below<\/p>\n\n\n\n Thinking beyond<\/em> profit, another example to demonstrate the shift towards the \u2018kindness economy\u2019 is the recent deal by Capital & Regional with FEC. The development of integrating residential homes<\/a> in parts of its shopping centres, caters to the high demand for more housing; but also, the need to boost local economy and rethink the sense of place. This development also addresses the structural shift in the high street and its changing function within our society \u2013 a topic we explored in more depth in part two<\/a> of the series.<\/p>\n\n\n\n Transparency, inclusivity and authenticity will be at the heart of a brand\u2019s messaging and value system. Consumers are quick to call-out brands who appear to virtue signal, rather than enacting change. This means that businesses need to have clear messaging, genuine CSR actions and an offering which reflects their values in an authentic and consistent way. Havas Media Group\u2019s Meaningful Brand\u2019s 2021 report<\/a> demonstrates consumer\u2019s scepticism on brand\u2019s delivering on their ethical and environmental promises (71%). Trust is waning: 47% of consumers think brands are trustworthy and only 34% think companies are transparent about their commitments. Because of this cynicism, brands find themselves in a precarious situation where earning the consumer\u2019s trust is<\/em> paramount.<\/p>\n\n\n\n Liz Curtis, Co-Founder of Team Bespoke<\/a> discussed the importance of aligning your messaging with your values during our 2021 Accelerate<\/a> event:<\/p>\n\n\n\n \u201cWhen entering a new market, you want to ensure that you have buttoned up messaging. Check that the words and phrases you\u2019re using do not have a different meaning in that culture you risk alienating that demographic. As the concept of \u2018cancel culture\u2019 unfolds, it is apparent that the younger generation are looking to brands as a moral compass. You want to ensure that you have clear messaging and are aligned with what\u2019s happening socially and politically to motivate that consumer to purchase\u201d.<\/em><\/p><\/blockquote>\n\n\n\nThe Conscious Consumer<\/h2>\n\n\n\n
The Rise of the BCorp<\/h2>\n\n\n\n
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\n<\/div><\/section>\n\n\n\nMindful Marketing<\/h2>\n\n\n\n
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