Guest post by Ted Ning (abridged)
The global economic downturn has not only affected many people’s wallets it has also caused a dramatic shift in the way people look at the choices they are making in their lives. In developed countries there is a strong desire to be self reliant and to conserve resources as people prioritize their spending and behaviors towards more purposeful decisions. Choices as small as bringing meals to work rather than eating out, taking public transport instead of spending on gasoline and garden grown foods rather than store bought foods are some examples of trends that are picking up. These are changing the way companies approach green business strategy.
According to Brandweek.com a new survey by firms Landor Associates, Penn Schoen Berland and Burson-Marsteller, transparency and corporate responsibility have become far more important to consumers in a tough economy. It found that despite the recession, 75% of consumers believe social responsibility is important, and 55% of consumers said they would choose a product that supports a particular cause against similar products that don't. The most surprising findings pointed to the fact that nearly 50% of 18-24 and 25-34 year olds said they are more likely to take a pay cut to work for a socially responsible company—a much higher percentage than any other age group.
People Want to Simplify
There are growing desires for purity and simplicity. Companies should respond with a move to simpler inputs, focused messaging, cleaner labeling, streamlined design and easy delivery of goods and services. Society is also demanding the removal of the layers of complexity – a change desired because it becomes easier to determine the true fit of products and services with personal values. This “less is more” trend is resonating with consumers everywhere – purity and simplicity is now the ultimate sophistication!
The Future is Now
We find ourselves facing a complex set of problems that threaten the global population, economy and environment. The recession has sped up the inevitable evolution of our society and economic system that puts businesses and consumers in the driver seat of change. People are paying more attention to what they spend money on and demand a new definition of sophisticated value from companies. Those companies that cannot keep up with the progression of LOHAS consumer demand risk losing market share. Those companies that do respond will not only provide superior LOHAS products but also provide a better company overall for society and the planet. Together we can help transform the problems we have today to the solutions of tomorrow.
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Photo credits lohasacucenter.webs.com & thingsweforget.blogspot.com