Why your Brand needs a Purpose

Nearly two-thirds (64 percent) of consumers around the world will buy or boycott a brand solely because of its position on a social or political issue, according to the 2018 Edelman Earned Brand study, a staggering increase of 13 points from last year.

Photo by Mert Guller on Unsplash

Belief-driven buyers  are now the majority across markets, including the U.S. (59 percent, up 12 points), Japan (60 percent, up 21), the UK (57 percent, up 20) and Germany (54 percent, up 17); age groups, 18-34 (69 percent), 35-54 (67 percent) and 55+ (56 percent); and income levels, low (62 percent), middle (62 percent) and high (69 percent).

The survey of 8,000 people across eight markets finds that consumers believe that brands are a more powerful force for societal change than government. More than half of people (53 percent) believe that brands can do more to solve social ills than the government, and 54 percent believe it is easier for people to get brands to address social problems than to get government to act.

Source: Edelmann, October 2018

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