The third in our blog series which looks at a purpose-led or purpose-driven business strategy unpacks the various components that inform such a strategy and why we strongly believe that it is the future of industry, globally. Part one and part two offer a more in-depth look at purpose-driven business with many compelling studies to back up the argument in favour of this. READ: Purpose-Led Business – the results are in and they are telling… READ: A Purpose-Led Business model goes beyond the customer Aside the obvious ethical values that a purpose-driven business strategy can provide, and not discounting the business world wanting to do more to make the planet and the … [Read more...] about The DNA of a purpose-driven business strategy
In Part 1 of our current blog series on the Purpose-Led Business model, we focused on how purpose in business leads to higher consumer advocacy, loyalty, and willingness for customers to pay more for brands they view as having a positive impact on the world around us. READ: Purpose-Led Business – the results are in and they are telling… This study tells part of the story… The Kantar Purpose Study in 2020 revealed that over a twelve year period, those brands that were perceived to have a positive impact by leading with a purpose-led business model had a brand growth of 175% versus 86% for medium positive impact and 70% for low positive impact businesses. It would be best to … [Read more...] about A Purpose-Led Business model goes beyond the customer
The purpose-led business model is on the rise and for good reason. There have been countless market surveys in recent years to evaluate the ascent of purpose-led business and the results have been telling. These have covered every aspect of this business model which goes beyond what the market dictates from a customer perspective. Just one year ago, and only weeks before we went into full lockdown here in South Africa, and indeed the world too was coming to grips with the global Covid-19 pandemic, Forbes published a concise register of the multitude of surveys that have been done on the purpose-led business model. Links to the two-part analysis can be found at the end of this … [Read more...] about Purpose-Led Business – the results are in and they are telling…
Most of us today have an inkling as to what conscious consumerism is and if you have chosen to read this article, your curiosity has certainly piqued further. To remove any doubt though, let’s have a closer look at exactly what it is that defines conscious consumerism. Grow Ensemble sum it up really well: “Conscious consumerism is when buying practices are driven by a commitment to making purchasing decisions that have positive social, economic, and environmental impact.” Conscious consumerism focuses on making positive decisions throughout the buying process, with the intention of helping to balance some of the negative impacts that consumerism has on the planet. A … [Read more...] about What is Conscious Consumerism and why we should care?
Today’s consumers expect more from the brands they support and the demand for environmentally-friendly trade is on the increase. If there is a silver lining to the global pandemic that we are still currently experiencing, it is the growing trend of consumers that are more conscious of their environmental impact and their expectations for retailers to be ‘more green.’ This UK study, ‘Selling Sustainability: Adapting to the New Conscious Consumer’, surveyed 2,500 consumers from the UK, Ireland and France about their current shopping habits and environmental and ethical expectations from online retailers and brands. The temporary closure of physical shops and stringent protocols … [Read more...] about Consumers are changing and so are their choices