Consumers are increasingly likely to buy from retailers using its business to address wider social issues, according to research by Accenture New Zealand.
A survey of 500 New Zealanders found that 40 per cent of consumers plan to vote with their wallet and support businesses that reflect their personal values.
Half of respondents said they want businesses to be more transparent on the steps they are undertaking to reduce environment impacts, while 43 per cent wish businesses would be more vocal and take a stand on social issues or in their support of charities.
“Retail consumers in 2020 now know and care more about our world and impact upon it than ever before,” said Ben Morgan, Accenture’ Interactive New Zealand’s managing director.
“When we go shopping, we are no longer simply purchasing a product, we are also supporting causes and concepts with our spending.
“This is a trend we’ve observed globally as consumers increasingly look for brands that reflect their personal values. They’re prepared to use their purchasing power to encourage retailers to be more responsible in their environmental, social and workplace practices.”
The survey also found that Kiwis want more information about responsible shopping choices, with 64 per cent wanting retailers to incentivise recycling of unwanted products, and a further 61 per cent wanting packaging-free versions of products to be available.