According to a new Earned Brand report released by public relations firm Edelman, 57% of of consumers are more likely to by from or boycott a brand solely based on their stance on social and political issues.
The study also showed that this likelihood had increased 30% in the last three years, showing a distinct trend in consumer behaviour. Edelman global chair of brand Mark Renshaw spoke of the results, saying: “People really are buying on belief, and brands have a huge potential to gain if you do share your belief and act out on those beliefs.”
“We really think this is an opportunity for brands, and it’s something that all brands should be looking at proactively versus reactively.”
However, Renshaw was quick to note that brands don’t suddenly have to jump to make their political views known: “We don’t believe it’s about politics. In fact, we would say stay away from politics. But the issues that are being discussed in society are things like the environment, equality and immigration. Obviously, sometimes [those] issues have a political aspect, but the issues themselves [are] what brands should be focused on—not the political sides of those issues.”
Other interesting points from the study included:
- Consumers in developing countries like China (73 percent) and India (65 percent) are more likely to care.
- Consumers also care if a brand doesn’t talk about a social issue that they feel like the brand should talk about, with 65 percent saying they wouldn’t buy a brand due to its silence on an issue.
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66 percent of American millennial respondents said they make purchasing decisions based on brands beliefs.
