Principles are not part of any trade-off
The Times, September 2007
What happens to ethical consumerism in the event of an economic downturn? Will values still be as important as value? We’ve been tracking consumer attitudes on this question and the results are striking. About two thirds of Concerned Consumers state that they would still try to find the most ethically and environmentally friendly products, even if it meant paying a little extra.
This suggests that whatever happens to the economy, ethical consumerism isn’t going anywhere. For the 47 per cent of the population that are Concerned Consumers, social and environmental factors have entered the basic needs set. What we will find, however, is that some factors are more basic than others. Pressure on spending will filter the ethical wheat from the chaff as all consumers become more discerning in decision-making.
Brands that successfully communicate the substance of what they are doing to address social and environmental factors and the resulting impact will thrive. Those that chase ethical fads and produce touchy-feely fluff will struggle.
Concerned Consumers are likely to focus on things that feel close to home. My family and I come first. So organic food and particularly organic baby food, definitely stays in. But fair trade could suffer.
Big-ticket items will also be a subject of focus. When a Concerned Consumer is spending a significant sum on an item that has notable social and environmental issues, they will do their research. At the moment, they’ll be left wanting, because 80 per cent feel that they do not have enough information to make an informed choice.
This needs to change. Companies that start giving a bit more information about what they are doing probably will be fine. Those that do nothing need to watch out. Many of these items are viewed as nonessential and can epitomise heady consumerism and this blends with ethical doubts and economic worry into a potent combination. The outcome is simple. Don’t buy.
