Appealing to consumers' desire to feel better about their purchases
Implications - Because today's consumer increasingly needs justification for his or her purchase, centering a brand's message around a social cause helps any company to distinguish itself from the marketplace's never-ending product options and competitor messages. Cause marketing, whether it's sincere or not, appeals to the consumer's wish to feel better about spending money on items they might not need -- and that is often all it takes for a brand to augment sales.
Trend Themes
1. Cause Marketing - Brands are augmenting sales by centering their message around social causes that appeal to the consumer's need to justify purchases.
2. Fashion-oriented Philanthropic Ventures - Fashion designers are using their platform to raise awareness of social issues and raise funds for charities, creating a new wave of cause-oriented fashion.
3. Socially Responsible Films - More companies are partnering with film and production companies to create short films that showcase the need for increased awareness about social issues and pragmatic solutions.
Industry Implications
1. Retail - Companies in the retail space are tapping into social causes to boost sales, while also creating positive social impact.
2. Fashion - Fashion designers and brands are using their influence to raise awareness of social issues and raise funds for charities through fashion-oriented philanthropic ventures.
3. Entertainment - Film and production companies are partnering with businesses to create socially responsible films that showcase social issues, creating opportunities to increase awareness and create social impact.
