Ethical Wellbeing is part of two different mega-trends: Health & Wellness and Sustainability & Ethics. We may interpret this ambiguous position as meaning that consumers are motivated by different things: some by ethics, some by health. Therefore, the approaches we are going to explore in the current trend include (but are not limited to) five different areas:
- Health awareness
- Environmental sustainability
- Animal welfare
- Fair trade and
- Other social causes
The report “TrendSights Analysis: Ethical Wellbeing” provides an analysis covers what the trend is, why it is important, who is most influenced by it and how brands and manufacturers can capitalize.
- More and better information triggers greater consciousness among consumers about more ethical consumption.
- Purchasing ethical products endorses the opportunity to participate in recognized causes.
- Companies that exhibit corporate social responsibility will improve their reputation and their emotional connection to loyal consumers.
- Women are more sensitive to brands' code of ethics, while men tend to be more skeptical regarding claims presented by products.
- Millennials are most likely to value firms that show corporate social responsibility.
- Consumers in emerging markets have the highest concerns regarding sustainable policies and ethical values.
Additionally, this report helps to understand how to position products with ethical claims, examine solid examples of products addressing brands' corporate social responsibility and to capitalize on consumers' tendency to value products that make ethical claims more highly.