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The Hustle Daily Show
Should brands address social issues?
Nov 6, 2023
This podcast explores the role of brands in addressing social issues, discussing consumer preferences and the challenges faced by companies. It also covers updates on news topics such as a canceled construction deal, low wages, and Jeff Bezos' move.
13:39
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Quick takeaways
- Consumer preferences regarding brand involvement in social issues have shifted, with younger generations and those with liberal or marginalized identities more inclined towards brands taking a stance.
- Consumers prioritize brands' actions and genuine commitment to social causes, valuing fair treatment of employees, fair compensation, and community contributions over superficial statements on social media.
Deep dives
Shifting Consumer Preferences on Brand Involvement in Social Issues
Consumer preferences regarding brand involvement in social issues have shifted. In 2020, consumers, especially younger generations and those with liberal or marginalized identities, wanted brands to take a stance on social issues. However, as of this year, the percentage of consumers wanting companies to speak up has decreased to 29%. Generation Z and millennials are still more inclined (41%) to see brands get involved, while Gen Xers (23%) and baby boomers (17%) are less interested. Businesses now face the challenge of knowing how and when to engage in social issues.
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