Historically, the shopping cart was filled based on a simple process of determining the quality and the appropriate price. Today, it's a more complicated process as consumers become increasingly aware and concerned about how ethically products are made.
In a recent survey of 1,000 UK shoppers, Morgan
Stanley Research found that, "While ethical concerns don’t dominate
shopping habits—prices and quality still rank highest—they have gained
prominence since 2010, particularly with the critical younger consumer
Of all items in the survey, the nine percentage point increase regarding the
importance of ethics was the largest. It points to the reality that the next
generation of consumers believes that there is value in protecting both the
workers and the environment involved in manufacturing and production.
Several major retailers have already recognized the benefit in providing
transparency to their customers. Gap recently released a list
of all of the factories that provide it and it's six companies (Gap, Banana
Republic, Old Navy, Piperlime, Athleta, and Intermix) with product. Given the nature of the modern consumer's relationship with retailers, it's
fair to say that having an ethically sound business model will reap rewards
that far outweigh the costs.
Daulerio of the CT Post notes, "Businesses focusing on encouraging
ethical practices are commonly viewed with respect by employees, stakeholders
and the community. The ethical philosophy of a business can thus affect it in
many ways including its reputation, productivity and profitability."
Championing your business's commitment to sustainability is a move that will
cause consumers to connect your brand with a sense of
respectability. This can be done with something as simple as eco-friendly packaging that demonstrates to them your
priorities. Contact us today to discuss packaging options for your business that will send
the right message to your customers.
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