Accenture Strategy’s most recent global survey of nearly 30,000 consumers found that 62 percent of customers want companies to take a stand on current and broadly relevant issues like sustainability, transparency or fair employment practices.
The closer a company’s purpose aligns to their own beliefs, the better. Companies that don’t step up pay the price.
More than half (53 percent) of consumers who are disappointed with a brand’s words or actions on a social issue complain about it. That’s not surprising. Customers have always complained. What’s different now is that 47 percent walk away in frustration, with 17 percent not coming back. Ever.
Consumers’ expectations that brands align with their personal values is a challenge for companies that underestimated the bottom-line impact of neglecting to stand for something bigger than what they sell. Or falsely believed they could avoid taking a position on hot-button issues.
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