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Social Brands – Eliei Business Report

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Social Brands – Eliei Business Report

Ever since 2008 financial crisis, political climate has been drastically changing. Due to a series of events coupled with Brexit and Trump presidency, late majority consumers are adopting mindset characterised by distrust, disconnection and disenfranchisement. Consumers who fall into middle to low income group can no longer afford the lifestyles they aspire to. This report address sollutions how to tackle the issue and attract customers demanding change.

Stats

• 65% of consumers believe that business should take as much responsibility as governments for encouraging social change. (Havas Worldwide, 2017)

•Nearly one-third of 16-34-year-olds used a sharing economy platform to help a good cause in 2016. (Nesta, 2016)

•The 2008 financial crisis has changed the approach to consumerism with its profound effect on Millennials and generation D. These generations in particular are becoming more eco-conscious. (McKinsey, 2016)

•People from all social classes and different generations equally dislike unsustainable living. (LSN, 2017)

Facts from the industry

Kering corporation collaborated with Parsons School of Design to launch the My EP& app, which helps young fashion designers to calculate the impact of the garments on the environment.

Google and Jigsaw uses Google’s search and YouTube’s video platforms to target aspiring ISIS recruits and guide them towards content that might change their minds towards joining the groups.

The EquiTable app is created to split the bill according to the race and gender. A white middle-class male will pay more than a female of the same race.

You & Business

Act as educator and enabler rather than just a profit seeking organisation.

Think how can you work together with states and NGOs in order to create value for societies.

Sharing, networking, promoting development, collaborating and inspiring people are key activities to adapt in order to remain in business.

Millennials and members of Generation D will change their way of consuming for brands that take responsibility in society. Be relevant to your community as this will make people trust and believe in you and your brand.

 

 

 

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