Did you know, consumers today are taking increasing interest in the ethical practices of those they buy from? The tide is turning! Self-proclaimed missions of unicorns to deliver futuristic products and services ring hollow when they fail the very people who create and provide them. They not just end up losing money in legal battles but also damage their brands.
Creating ‘products with a purpose’ helps brands connect with these consumers and also with their own internal stakeholders. What interests consumers is the brands’ ethical vision of consumerism, which goes beyond recognizing the brand promise to proving their shared values - a true democratic approach.
The more diversity you bring to your team, the greater your chances of finding ground-breaking innovation.
Brands that will make common cause with their people, around an issue that everyone will have a stake in, will reinforce conscious consumerism and also emerge as stakeholder brands.
As consumers turn to innovative brands with the magic of on-demand and a truly ethical vision, brands will have to invest in creating an internal culture that fosters empowerment, shared values and an ethical mindset. Give your employees a meaningful stake in the company - not necessarily financial reward or equity, but celebrate them.
2017 will witness a new breed of determined start-ups proving that on-demand economy can lodge conscious consumerism.
Rewarding employees adequately, without foregoing near-magical convenience for the consumers, will be a pathbreaker. Sequentially, consumers will embrace brands that will go beyond giving perks to their employees to creating ownership and near-total transparency.
Convenience, quality and value will remain key expectations for consumers. The best way to engage and meet these expectations is by finding newer ways to allow employees to have a creative stake in what they do. This will not just ensure better output but also convey a powerful story of meaningful consumerism.