74% of Britons Consider Brand Values Before Purchasing

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(Newswire.net — July 7, 2021) — Consumers are increasingly taking into account the political and social beliefs of companies they wish to buy from, according to research by customer review platform Feefo.

The survey, which quizzed 2,000 Britons about their shopping habits, found that almost three-quarters want to know the ‘brand values’ of a business before deciding to buy its products.

Feefo’s Brand Perception Report explores the attitudes of people in the UK towards the brands they purchase and how the ongoing pandemic may have affected shopping behavior.

It found that recent restrictions mean brands have been forced to improve their online experience as more and more consumers turn to consoles when buying their goods and services.

Data shows that the demographic of those regularly using an online device has been steadily changing, with the percentage of people aged 75 years and over who say they have used the internet recently nearly doubling from 29% in 2013 to 54% in 2020.

This has signaled to companies that the practice of online shopping is here to stay, a practice that has been exacerbated by recent movement restrictions brought on by Covid-19.

Keith Povey, Marketing Director at Feefo, said: “It’s been an incredibly volatile 12 months for businesses, which has seen a seismic shift in consumer behavior, some aspects of which will have a long-lasting effect on how buyers think, act, and spend. That said, our research shows that for those businesses that are agile and realign their marketing strategies, there are many opportunities to improve brand awareness, perception, and loyalty. Those that respond and act with the medium to long term in mind will see greater returns over the next few years than those that see this period as nothing more than a dip, due to external circumstances.”

Companies of all sizes are starting to realize that in order to create trust within a brand, they need to establish strong core values and successfully communicate them between customers, employees, and business partners. In fact, the Feefo report found that 61% of people said they are more willing to spend money with socially responsible brands that they respect above others.

Equally, consumers. Are prepared to punish those companies that seem to fall below an acceptable level of social responsibility. The recent research found that 74% of people in the UK would be less likely to purchase if disappointed by a company’s words or actions on social or political issues, with almost half (48%) saying they would only give firms another chance if they made themselves accountable.

Some of the current hot topics that respondents to the survey cited as important to them included: sustainability ethics, transparency, and social responsibility.

Vic Heyward, Brand Marketing and Communications Manager, Bright, said: “This newer focus on brand accountability for sustainable initiatives can feel daunting for some, especially if you’re not at the forefront of an environmental revolution. For brands like this, taking a step back to reflect on your brand purpose, code of ethics or CSR policy can be an enlightening experience and a way to further engage prospects and employees.”

With the ability to shop on the Internet creating more choices than ever for consumers, brands are now looking for ways to stand out from the crowd. A younger generation of more socially conscious shoppers is encouraging brands to wear their hearts on their sleeves and communicate why they started their businesses and what exactly they stand for. In a crowded market, those companies that choose to stay silent about what drives them may ultimately find that they run out of road before too long.