How social values are impacting consumer behavior

As the pandemic continues, the economy slows and a national reckoning around racial injustice comes to the forefront, more and more companies are publicly taking a stand on social issues. But how do consumers feel about companies that speak out about their values? Do shoppers really care what a retailer stands for? According to Rachel Bonsignore, a senior consultant at GfK Consumer Life, they most certainly do.

Bonsignore joins the Retail Gets Real team this week to discuss how consumers' values have increasingly impacted their shopping behavior, and how the current climate presents an opportunity for brands. "Three-quarters of Americans say the way companies conduct themselves right now will impact whether they do business with them in the future," she says. "We see that a majority are noticing examples of companies being a force for good during recent protests and the virus." 

Now is a critical time for companies to make their values clear, but authenticity is key because shoppers are more savvy than ever. Explore the infographic below to learn more about GfK's findings. And listen to the full podcast episode to hear how social values impact how consumers have chosen to shop both before and during the pandemic and movement for racial equity, as well as which demographics are driving the behavior.

 

 

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