In 2022, it's expected that brands do more than just market, sell, and turn profits. The rise of Gen-Z, with their collective spending power of $360 million, champions more inclusivity, diversity, and action from brands than ever before.
But how you treat your customers continues to reign as the top reason consumers, Gen-Z included, patronize your business. Globally, 94 percent of customers consider how well a brand treats its consumers before making a purchase, per a 2022 report from eMarketer and Insider Intelligence. The consumer experience ranks No. 1, followed by treatment of employees (85 percent) and environmental practices (78 percent). Another 73 percent of consumers said a brand's response and actions toward events of racial injustice impact their decision to buy from a company.
Despite many consumers ranking global concerns such as the environment, social issues, and employee treatment as considerations before making a purchase from a brand, data suggests that the messaging doesn't translate to their wallet. Only 27 percent of customers worldwide reported switching brands to better align with their personal values.
Instead, half of worldwide consumers reported recently switching brands to obtain better customer service, making it clear that how you treat your consumer base is still important. Better brand deals and product quality were other reasons customers looked elsewhere for their needs.