Brands must take stands
Consumers believe brands can be a force for change. Close to two-fifths think they have better ideas for solving problems than governments, while almost half think they can do more to tackle social ills than lawmakers, according to the latest Edelman Earned Brand study.
Nearly two-thirds of consumers around the world buy on belief, up a huge 13 points since 2017. “These belief-driven buyers will choose, switch, avoid or boycott a brand based on where it stands on the political or social issues they care about,” says Edelman.
In addition, 60% of consumers say CEOs should take the lead on change rather than waiting for government to impose it. In fact inaction simply won’t cut it – over three-fifths say they won’t purchase a brand if it it stays silent on an issue it has an obligation to address.