As has been true since the advent of retail, a consumer will be associated with a brand, as long as it is relevant to him/her. Relevance (more specifically brand relevance) is the degree to which consumer perceive a brand and its products/ services as relevant to his needs and wants. These needs and wants are a derivative from consumers value system. So, brand relevance is directly impacted by consumers value system.
The consumer value system is influenced by various factors, including personal values, cultural norms, social influences, and economic considerations.
Due to increased awareness, quick access to authentic data, influence of social media and environmental concerns, consumers of today have become "socially conscious".
• They are well-informed and concerned about the social and environmental challenges faced by our world.
• Sustainability, global warming, equality, giving back to society are on top of their agenda.
• They expect that every action of theirs to contributes to the betterment of the society.
• They recognize that their buying decisions can influence corporate behaviour and have a tangible impact on the corporate world.
• Hence, they want to support businesses that are aligned with their values and are making an effort in creating a positive impact.
• This includes supporting companies that are environmentally sustainable, source materials ethically, treat employees fairly, and are giving back to the community.
As the world evolves, these sentiments only get stronger and number of socially conscious consumer is going to increasing. Hence, in order to be relevant to consumer, organizations will need to evolve and being "socially conscious" is going to be a critical pillar for sustenance.
Being a "socially conscious brand" has certain obvious advantages, some of them being:
This story is from the July 2023 edition of Business Of Fashion.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the July 2023 edition of Business Of Fashion.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Alia Bhatt's Ed-a-Mamma expands offline with first store at Jio World Drive, Mumbai
Ed-a-Mamma, Ed the eco-conscious clothing brand founded by Alia Bhatt, has launched its first standalone store at Jio World Drive in Mumbai. The brand specialises in sustainable kids and maternity wear, aiming to promote responsible fashion choices among families.
Foot Locker comes to India with Metro Brands Ltd, launches first store at Select City Walk
Foot Locker inaugurated its omnichannel launch in India on October 19th with Metro Brands Ltd managing physical stores and Nykaa Fashion overseeing its e-commerce operations.
Timex Group India Ltd reports record-breaking quarter, surges 37% in revenue
Timex Group India Ltd has recorded its most successful quarter to date. With the company marking its 170th year, TGIL reported an all-time high revenue of Rs 172 crore for Q2 FY25.
Honasa Consumer Ltd. names Dr.Kaustav Guha as Vice President of R&D
Hana onasa Consumer Limited has Lannounced the appointment of Dr. Kaustav Guha as Vice President of Research & Development. In this role, Dr. Guha will enhance the company's R&D capabilities and drive product innovation across Honasa's portfolio, which includes brands like Mamaearth, The Derma Co., Aqualogica, Bblunt, and Dr. Sheth's.
TechnoSport expands retail footprint with largest store in Tiruppur
Active sportswear manufacturer, TechnoSport launched its largest retail store in Tiruppur, marking a step forward in its expansion strategy across India. This store, spanning 1,500 square feet, aims to meet the rising demand in Tiruppur and surrounding areas.
Cantabil expands nationwide with 13 new stores
Cantabil antabil Retail India Ltd. has announced the opening of 13 new stores in October, increasing its store count to 569 across India. This expansion adds locations in cities such as Zirakpur, Dehradun, Pilibhit, Pune, Jaipur, Jodhpur, Lucknow, Prayagraj, Vadodara, Aurangabad, and Sagar.
IFF Sustainability Conclave: Rishi Suri on How LYCRAⓇ XTRA LIFE™ Improves Garment Lifespan
In a presentation by Rishi Suri, Business Development Director (South Asia), The LYCRA Company, the audience was treated to insights on 'Embracing Durability with LYCRA® XTRALIFE. The presentation highlighted innovations contributing to sustainable fashion practices... In a presentation by Rishi Suri, Business Development Director (South Asia), The LYCRA Company, the audience was treated to insights on 'Embracing Durability with LYCRA® XTRALIFE. The presentation highlighted innovations contributing to sustainable fashion practices...
Duke Fashions (India) Ltd.
Founded in 1966 by Komal Kumar Jain, Duke Fashions has established itself as a pioneering brand in the Indian apparel and footwear industry.
THE INDIAN DENIM MARKET IN 2024: An Analytical Overview
The Indian denim market is poised for significant growth, with a projected compound annual growth rate (CAGR) of 15% from FY2023 to FY2028. By FY2028, the market size is expected to reach USD 7.82 billion...
Orry x Flying Machine capsule collection launches in Bengaluru
Apparel brand Flying Machine has launched its limited-edition Orry x Flying Machine capsule collection in Bengaluru after a successful debut in Delhi.
