83 PERCENT OF GLOBAL CONSUMERS BELIEVE BRANDS CAN BRING STABILITY
NEW YORK & LONDON & SINGAPORE–(BUSINESS WIRE)–#BrandsinMotion–Today, WE Communications released results from its Brands in Motion 2019 global study. The data uncovered a growing expectation and clear opportunity for brands to bring greater stability to what has become an increasingly polarized world. Eighty-three percent of global survey respondents say they believe brands could play an even greater role in providing stability, and 74 percent say they expect brands to take a stand on important issues.
Over the past three years, the Brands in Motion study has surveyed nearly 80,000 consumers and B2B decision-makers to understand the impact of market forces and quantify how perception shifts are impacted by them over time. This year’s study exposed three main themes:
With greater choice and knowledge at their fingertips, consumers are more empowered than ever to make demands of brands. We see this playing out on a number of fronts, from climate change to data privacy. Today’s consumer uprising is also reflected in the Brands in Motion study results: Since its inception, not a single global consumer expectation has decreased.
“Today’s brands face a high-stakes environment — insatiable expectations, a push for accountability from all sides, and a consumer audience that has unprecedented levels of customization, knowledge and choice at their fingertips,” said WE Global CEO and Founder Melissa Waggener Zorkin. “To survive and thrive, brands must adopt a higher level of consciousness about how they operate in the world, demonstrating authenticity, and connecting with their customers in meaningful, respectful ways.”
Technology expectations and accountability
This year’s Brands in Motion study delved deeper into consumer expectations when it comes to technology. What is clear is that consumer expectations are high and at times nuanced — people want technology to improve their lives, but not at any cost. Regardless of age or gender, people want innovations to simplify or improve their lives, but are hyperaware of the tradeoffs that can come with their productivity boosts. The ethics of technology remains front and center with 97 percent agreeing that companies are responsible for using technology ethically, and 92 percent saying they would stop using a product or service if it was using consumer data unethically.
New this year was a call for collective accountability, with 96 percent acknowledging that it’s not just up to brands and the government. Consumers say they, too, have a role to play in ethical responsibility.
The new brand loyalty: human to the core
To address consumer demands, brands must rethink the underlying drivers of loyalty and affinity for their brand. That means leading with purpose, building new levels of trust and respect with customers, and creating more meaningful impact in the way a brand operates globally and locally. Some companies, like those that supported the Business Roundtable commitment, are further reinforcing the need to deliver social impact over shareholder value.
“Purpose is why you do what you do,” said Zorkin. “What’s changed now is that it has to go so much deeper than CSR. You can’t just talk about it — your brand has to live it.”
For consumers, that means creating tangible impact. Fifty-four percent say they want the brands they support to balance a great product with powerful purpose and activism, and 53 percent want brands to address environmental problems in both local communities and at a global level.
Other WE research released earlier this year showed similar urgency, pointing to the environment, the need for greater equality and politics as critical challenges facing society where brands have an opportunity to be a part of the solution. By leading with purpose and through thoughtful listening, commitment and bravery, brands have an opportunity to create positive change and a lasting legacy.
“Last year we said expectations are higher than ever. You had to balance ethics and innovation, and show, not tell, consumers your value,” said Zorkin. “This year, consumers are demanding that you do all that and speak your truth as a brand at the same time. In addition to a great product, they expect authenticity and they expect respect — they want brands to show they are human to the core.”
ABOUT BRANDS IN MOTION
WE partnered with YouGov to field the third iteration of its Brands in Motion survey among more than 25,000 consumers and B2B decision-makers across eight global markets: Australia, Mainland China and Hong Kong SAR, Germany, India, Singapore, South Africa, United Kingdom and United States. It looked across eight categories and more than 80 brands, also capturing key demographic data. The industry categories included automotive, computing devices, finance and banking, food and beverage, health and wellness, prescription health, smart home, and tech B2B.