By staying hush on social issues, brands risk losing sales
Recent findings from GlobalData emphasize the consequences of not proactively engaging with social and ethical issues: consumers are noticing. One example? Since Israeli attacks on Gaza started, Unilever saw a 15% drop in sales in Muslim-majority Indonesia. McDonald’s halted expansion in the Middle East following strong consumer backlash. South-East Asia represents a substantial market due to its population growth, as does the Middle East thanks to its spending power.
To maintain consumer trust and avoid financial losses, businesses must transparently communicate their commitment to ethical and social responsibilities. And if taking a stand isn’t an option, they still need to engage with customers through platforms that allow for feedback and dialogue, ensuring people’s voices are heard and considered. As consumer loyalty hinges on corporate ethics, how will your brand evolve its strategies to ensure it not only meets but exceeds the ethical expectations of today’s informed and values-driven consumers?