Consumer Goods

TrendSights: Ethical Luxury

  • CAN376849
  • 1 Pages
  • July 2013
  • Consumer Goods
Summary
Consumers are aware that ethicality is important but are often unwilling to pay a premium for it in difficult financial times. However, by using innovative design and/or positioning, manufacturers can actually use ethicality to add an element of luxury to a product, thereby making a premium price more justifiable.


Synopsis
- Pinpoint key "platforms" that can be employed to entice new product trial. See how they relate to "on-trend" examples.

- Access a unique blend of consumer and innovation insight to understand how consumer demand for Ethical Luxury can be met.

- Review examples from across the food, non-alcoholic drinks, alcoholic drinks, personal care, household care, packaging, and retail sectors.

ReasonsToBuy
- To what extent do global consumers seek products that display obvious ethical credentials across the major fast-moving consumer goods sectors and why?

- What is the Ethical Luxury sub-trend? How does it impact consumers? What will it mean for core product and marketing innovation in my sector?

- How are brands capitalizing on the Ethical Luxury sub-trend to entice consumers into paying a premium for products?

Key Highlights
There is a general acceptance that the ethicality of a product should be a consideration when consumers are making purchase choices. Just under two thirds rate it as being important.

More than half of consumers believe that the corporate social responsibility credentials of a company play an important part in what makes a luxury brand.

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