Definition of “Top Brands” Evolving: Ethical Business Rankings Inform Purchasing Consumers
December 1, 2010 Leave a comment
Author’s Note: In an earlier post I wrote about the growing movement called “ethical consumerism.” Ethical Consumerism: The New “Good” Shopping Experience. Today’s post explores how it impacts our perception of “top brands.”
Definition of “Top Brands” Evolving
Will there be a convergence between the current “top 100 brands” and the “most ethical brands?” Brands that are the most ethical will continue to draw consumers wanting to support ethical business. Those consumers now have many sources of information to use in making purchasing decisions. To stay in the “Top Brands” businesses are having to adapt to the new expectations.
Business Ethics Sites for Shoppers
Businesses have been used to being ranked on size and profitability. With the growing trend toward ethical consumerism, business leaders need to prepare to be ranked on ethics. Customers are more concerned about sustainability, ethics and values than they are about company size and quality of advertising. They are making choices in line with the new consumer mentality about sustainable consumption and sustainable living.
Businesses that have not yet adapted to the trend may be surprised to find that unethical ratings on the shopping sites are changing their status in the eyes of careful consumers.
Consumer Shopping Filters Have Changed (Previous Post Listing More Sites)
Questions to Consider:
1. How have we defined the success of our brand in the past?
2. How does our definition of brand success need to change to adapt to new consumer expectations?
3. What simple changes could we make now to make our company and our brand more ethical?
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