30.11.20 MindspaceWe want more! Today’s consumers are demanding more from companies than what they have for sale

We want more! Today’s consumers are demanding more from companies than what they have for sale

Gone are the days when companies could provide the goods or services they were advertising and their job was done. Nowadays, companies are scrutinised, investigated and expected to care about the products/processes they use and how they are making the world a better place. Having come to terms with this differentiator – that will divide the good corporations from the great ones – organisations now need to find a way to do good.

Feelings, inspiration and trust:
Today’s consumer wants to feel, they want to be inspired and they want to trust. Perhaps the inspiring Apple brands of the world could be blamed for this but one thing is for sure, the customer deeper dive and higher expectations cannot be ignored. 

The idea of this customer power was explored back in 2017 by Wunderman with their ‘Wantedness’ study. Wunderman recognised that brand loyalty power had shifted considerably toward consumers. Consumers want to know that brands care. The study showed that a change is needed in the way that brands need to operate in order to remain competitive in the future. Another interesting insight is that most consumers don’t just measure companies against each other but rather most use only a small select group of benchmark customer focused companies such as Uber, Apple and Amazon to compare the rest to. Talk about pressure! This again demonstrates that when companies get caring right, when they go the extra mile, magic can follow!

So who IS doing something about it?
Companies are listening and the market is moving. Snapchat have collaborated with Headspace to offer two meditations that will feature on Headspace Mini – a designated place on Snapchat where users can engage in meditation and mindfulness activities. But why mindfulness? Bloomberg reported that ‘in a new survey conducted by independent research company, GroupSolver for Snap, over 73% of Snapchatters in the US reported feeling stressed over the last week, and over half are more stressed than they were last year’. So Snapchat decided to do something about it!

These shoes were made for walking and Zappos recognised that not everyone needs two! Zappos Adaptive is a range of adaptive footwear and other products for people with disabilities – making buying affordable and stylish and recognising they acknowledge, cater and care about everyone.

Over to the world of sport, Asics EMEA are diving into the power of sport and movement to address mental health. The ‘In My Shoes’ audio stories are developed to be listened to while on the move – allowing people to experience what it’s like to be in the storytellers shoes. 

Now into the world of leggings. Lululemon is known around the world for its high quality activewear but they also invest heavily and believe in the importance of mental health by providing customers with meditation tools called ‘Peace on Purpose’. Tools include workshops hosted by leaders in mindfulness to help people all around the world deal with anxiety,grief, burnout and overwhelm.

Anyone seeing a pattern here? Mental health awareness is on the rise and under the microscope! As companies continue to walk into the 21st century, they may have a new challenge on their hands but it could certainly be worse than ‘caring’.

Photo by Ben Mater on Unsplash

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