Consumers prioritise brand value and quality over community impact

US consumers are ten times more likely to rate value and quality as a brand’s most important attribute compared with its impact on the community, according to data from research firm Forrester.

Why it matters

Marketers are increasingly focused on purpose-driven campaigns and assessing their effects on the environment. While consumers may expect brands to be active in these areas, most are not translating this attitude into spending choices – or, at least, not yet.

Takeaways

Forrester’s analysis drew on data from 2020 and 2021 as it determined the importance of values in consumers’ purchase decisions. And it found:

• 18% of consumers are “values-motivated consumers” who take hard actions based on their convictions when it comes to spending.
• Breaking out these figures by demographic, one in five millennials are “values-motivated”, compared with only one in ten baby boomers.
• Over 90% of consumers said they would be willing to “reward or punish brands” depending on their treatment of employees during the COVID-19 pandemic.
• Just 9% of people, however, had switched brands as a consequence of this issue – whereas 42% had done so for matters relating to product availability.

The big idea

“Data that supports the consumers’ intent to be social-values-based is overwhelming, but the evidence to support consumers’ willingness to take action in support of these social values is often lacking” – Dipanjan Chatterjee, vice president and principal analyst, Forrester.

Sourced from Forrester