The Times, Oct 2008
A fundamental shift in consumer attitudes took place over the last decade. Social and environmental concerns moved from the fringes of society to the mainstream. Values certainly never overtook value in the purchase decision mix. But for a large number they become a contributing factor. It was simple. Why buy the shoes you think might have been stitched together in a sweatshop in China if there’s an equally attractive alternative that reassures you otherwise?
This shift happened to coincide with the era of easy credit and in the context of a booming economy. But to infer a level of causality - and therefore that values are a good time phenomenon that will quickly dissolve in the new economic reality would be misguided.
The growth in consumer concern resulted in a large part from rising awareness of ethical issues. Climate change acted as the Trojan horse but, aided by the democratization of information, it went much further. And it was accompanied by a growing realisation on the part of consumers that their consumption choices could make a difference.
The high street was the front line here. And major fashion retailers such as Marks & Spencer both reacted to this attitudinal shift and also helped embed it, by making bold statements about their commitments to social and environmental responsibility - and following them up with real action.
None of this has changed. Consumer awareness and concern has not gone anywhere. And many major retailers have set out a far-reaching agenda of change which runs for the years ahead.
So consumers are still looking for ethical choices on the high street (in this month’s Concerned Consumer Index 70% said they have a higher opinion of companies that spend money on social and environmental activities even in a downturn), at the same time as they focus in on the costs of things. They really want retailers to do the same. Affordable values are the name of the new game.
