{"id":12888,"date":"2020-07-13T08:00:45","date_gmt":"2020-07-13T08:00:45","guid":{"rendered":"https:\/\/www.instantoffices.com\/blog\/?p=12888"},"modified":"2020-07-13T13:11:00","modified_gmt":"2020-07-13T13:11:00","slug":"belief-driven-buying","status":"publish","type":"post","link":"https:\/\/www.instantoffices.com\/blog\/business-growth\/belief-driven-buying\/","title":{"rendered":"Belief-Driven Buying on the Rise: Is Your Company Socially Responsible?"},"content":{"rendered":"

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More consumers than ever are demanding equality and diversity from the businesses they support.<\/p>\n

A special report on brands and trust has revealed that 69% of consumers<\/a> want to support brands that express their values, and are more likely to trust brands that are more committed to being involved in societal issues.<\/p>\n

Brands Take a Stand<\/span><\/strong><\/h2>\n

Belief-driven buying has become the new normal. The number of consumers making their purchasing decisions based on personal beliefs and values has risen significantly. In 2017 just around half of consumers (51%) were belief-driven buyers, and by 2019 this had increased to the majority of consumers (64%) across eight highly influential global markets.<\/p>\n

More recent insights on brands and belief:<\/strong>
\n\u2022 53% of buyers agree – every brand has a responsibility to get involved in at least one social issue.
\n\u2022 49% say brands can do more to address and solve social issues than the government.
\n\u2022 56% say that too many brands are \u201ctrustwashing\u201d \u2013 using societal issues to sell more of their product, rather than backing up their message with tangible action.<\/p>\n

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\"An<\/p>\n

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Recognition for Pride-Friendly Brands<\/span><\/strong><\/h2>\n

Pride Month presents brands with an opportunity to show their support for the LGBTQ+ community and follow through with actions that reflect this support. More brands realise how important it is to ensure all employees feel safe, included and respected at work. A record 503 employers from 20 different sectors submitted applications to the Stonewall Workplace Equality Index<\/a> for 2020.<\/p>\n

The Index also conducted a staff feedback survey which was completed by 109,9337 employees. The results showed a positive response from the majority of these employees.
\n86% of gay and lesbian respondents, 71% of bisexual respondents, and 63% of trans respondents said they felt able to be themselves at work. It\u2019s worth noting that 70% of LGBTQ+ employees with disabilities felt the same \u2013 while still in the majority of respondents, this shows a significantly lower percentage than that of their able-bodied counterparts (83%). While policies around diversity and inclusion in the workplace have come a long way, clearly there is still work to be done.<\/p>\n

Belief-Driven Buying a Priority across All Age Groups<\/span><\/strong><\/h2>\n

In recent years the younger workforce has been leading the way, but it seems that older generations are also waking up to the importance of diversity and inclusion. Reports show that the majority of people across all markets, age groups and incomes say they must be able to trust a brand to do what is right. This belief is shared by:<\/p>\n