The Green Room: Questions That Matter Most In Business

Are we buying less because we care more? With Philli Boyle and Ben Perkins

Feb 25, 2020

Businesses are adapting to our changing purchasing habits driven by conscious consumerism. Supermarkets are reducing packaging, thrifting is on the rise, and companies are pressured to be sustainable. The podcast discusses the impact of individual actions and consumer choices, the significance of physical stores for conscious consumers, and the unique concept of a pop-up shop for grassroots projects. The guests share their expertise on changing consumer needs and the Choose Love pop-up shop, where customers can buy items and know that the proceeds go towards those in need. Ways to get involved with Choose Love are also discussed.

30:55

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Quick takeaways

Consumers are becoming more conscious of the environmental and social impact of their purchasing decisions, leading to a rise in conscious consumerism and a shift towards buying less and making more thoughtful choices.

Businesses must prioritize authenticity and transparency in their sustainability efforts to build trust with consumers, particularly the younger generations, who expect brands to demonstrate consistency and integrity in their actions rather than relying on tokenistic greenwashing.

Deep dives

Consumers are becoming more conscious of their purchasing decisions

Consumers are increasingly aware of the impact their purchasing decisions have on the environment and society. This trend towards conscious consumerism is evident in various areas, including fast fashion and travel. People are starting to buy less and make more thoughtful choices. They are showing interest in second-hand items and are willing to invest in unique, sustainable products. The concept of conscious consumption extends beyond retail and applies to other sectors such as gyms, holidays, and transportation.

Introduction

2min

Changing Consumer Needs and Conscious Consumption

4min

The Concept of a Pop-Up Shop for Grassroots Projects

2min

The Importance of Physical Stores for Conscious Consumers

16min

The Power of Individual Actions and Consumer Choices

4min

Ways to Get Involved with Choose Love

2min

Over the last few decades, businesses have struggled to keep up with our demand for more. Supermarkets provided us with a dazzling selection of affordable ready meals. Online retailers gave us a fresh look at the click of a button. We bought new phones every year, sipped lattes from plastic cups and splurged on the latest beauty products without thinking twice.

But things are beginning to change. The research shows that we’re thinking more carefully about where and how we spend our money. Thrifting is on the rise, meat consumption is down and businesses are under pressure to reduce their use of plastic. We’re more interested in experiences than products and, when we do splash out, we want to know that the products we buy are sustainable and that the companies we’re buying from align with our values.

So what does this all mean? Are we really buying less, or just spending in ways that make us feel good? Can consumerism ever truly be sustainable? Or are shopping sprees now a thing of the past?

If our consumption is finally slowing down, what does that mean for consumer business? Should they focus more on quality than convenience? How can they create the experiences we’re looking for, while remaining profitable? And have they left it too late to try?

This week we talk to Ben Perkins, Head of Consumer Business Research at Deloitte, and Philli Boyle, Co-Founder of Choose Love.

Tune in to find out:

Why people are queuing round the block to buy gifts for refugees
Why Ben thinks shell suits should make a comeback
How George’s new toilet roll could save the planet
Whether re-commerce could be the future

Hosts: George Parrett and Lizzie Elston

Guests: Ben Perkins and Philli Boyle

Technical support: Deloitte’s Creative Studio

Original music: Ali Barrett

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The Green Room: Questions That Matter Most In Business

Are we buying less because we care more? With Philli Boyle and Ben Perkins

Podcast summary created with Snipd AI

Quick takeaways

Deep dives

Consumers are becoming more conscious of their purchasing decisions

The rise of conscious consumption and its implications for businesses

The importance of authenticity and transparency in conscious consumerism

The role of consumers, retailers, and innovation in achieving sustainable consumption

Remember Everything You Learn from Podcasts