- People are quicker to call out or avoid companies that push marketing campaigns across controversial topics
- More than one-third of consumers expect more political unrest in their country
- 32% of consumers were actively involved in political and social issues this year
- 34% of consumers shared their opinion on social or political issues on social media
LONDON, UK – More than half or all consumers want to buy from brands they think are completely trustworthy, according to a Euromonitor expert.
Rodrigo de Mattos, Senior Research Analyst at Euromonitor International, said that 52% of buyers only bought from companies or brands which they considered to be completely trustworthy in 2023.
“As political and social issues remain at the core of individual identities, these ideologies play a significant role in shaping consumer perception, values, and attitudes. Consumers won’t shy away from their beliefs and are inclined to favour brands which align with their personal values.
“Significant social and political issues have the power to shape brand perception, ultimately influencing the consumer’s path to a purchase decision. In a Progressively Polarised landscape, these influences can be multifaceted and subtle,” explains de Mattos.
37% of consumers foresee more political unrest in their country over the next five years
Rubab Abdoolla, Consultant at Euromonitor International, said: “Government elections in 2024 are set to heighten anxiety and apprehension, intensifying political issues. Some 32% of consumers were actively involved in political and social issues. Individuals now act quickly to either criticise or boycott companies that promote marketing campaigns across controversial topics.”
Consumers are more vocal with their opinions on such matters with 34% of consumers expressing their views on social or political issues on social media.
“Brands must carefully navigate the fine line of political and social affairs. In this landscape, staying inactive isn’t an option either. Today, businesses must align their brand identity with the strategic communication of their efforts.
“Authenticity and reputation are key. Brands must demonstrate genuine commitment to the cause. It’s impossible to satisfy everyone but brands must accept both the potential risks and rewards associated with tackling a controversial issue,” said Abdoolla.
For further insights into Global Consumer Trends 2024 see report here.