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Will Consumer & Retail Values Align?

Will Consumer & Retail Values Align?

According to data analyzed by Forbes, about 83 percent of the population are more likely to invest in a product if it is ethically sourced. More importantly, their research also shows that 70 percent of consumers desire more transparency and regulation from the government to hold businesses more accountable. Around 71 percent of people believe that companies have a responsibility to abide by an ethical code that ensures commitment to environmental, social, and ethical expectations. 

Although this issue may seem simple to solve, it has various agendas that need to be met and compromised for mutual satisfaction. As a consumer it may feel overwhelming and almost helpless to maintain environmental, societal, and ethical expectations when purchasing products. To have ethical consumerism, it is natural to assume that ethical production is maintained. Due to regulations, terms such as “cruelty-free” and “vegan” have been used to market ethical products. But what do these terms really mean? Often it is easy to assume both terms are the same or that there is a level of ethical standing when one of them is mentioned. To understand both terms here is a chart of what encompasses a product that is cruelty-free and vegan. 

 

 

 

Charts from: ethicalelephant

 

The previous charts highlight the key components of cruelty-free and vegan regulations. As demonstrated, the term vegan is associated with ingredients, while the term cruelty-free is associated with product testing. Although these are subtle differences, understanding how they are applied in the industry will allow consumers to be aware when making decisions. Additionally, in another Forbes article, the discussion of sustainability shows that the GenZ generation has increased ethical consumerism around 25 percent in two years. With that said, studies also show “By 2030, GenZ will represent 27% of the world’s income, surpassing Millenials by 2031, according to Insider”. 

It is crucial for brands to align with consumer demands if they desire to stay relevant. The following list is a complication of resources that is directed to education and lists for vegan and cruelty-free products: 

 

Blog: Crueltyfreekitty

This blog has lists and many informative posts on regulations and explanations on cruelty-free and vegan products. 

See Also

 

Blog: Ethicalelephant

This blog shares the same themes as cruelty free kitty and provides more lists of products that are cruelty-free and vegan. 

 

Website: PETA

This is a great website for animal rights resources, they provide information on getting involved in the community as well as educational resources on regulations and animal rights. 

Overall, making conscious decisions as a consumer is important and can impact larger brands to align with these values. Change is something that happens after an accumulation of small efforts, staying informed on brands and their values is a great way to support brands that support ethical standards. These small efforts allow consumers to be the change they wish to see. 

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