The Purpose Economy: Our Desire for Conscious Consumption and How Brands Can Respond

The Purpose Economy: Our Desire for Conscious Consumption and How Brands Can Respond

Consumer behaviour has shifted towards a desire for more conscious consumption People are looking for products and services that go beyond transactions, and have purpose. In fact, according to the SHIFT Report, 73% of consumers say that a higher purpose in life is meaningful to them.

This Purpose Economy, as spotlighted in Aaron Hurst’s latest book, “The Purpose Economy: How Your Desire for Impact, Personal Growth and Community Is Changing the World,” is about more than just profits; it’s also about creating meaningful impact in service of people and the planet. 

Brands will have to innovate and adjust their practices in order to meet this desire. The thought leaders and innovators -including start-ups and accomplished business veterans – have begun to do so.

“Thingful” acts as a search engine for the Internet of Things. The search engine acts to enable people to discuss why and how they are using their devices and data. “Because, the ‘who’, ‘why’ and ‘where’ are ultimately far more important in The Public Internet of Things than the ‘what’.” Thingful’s objective of a search engine with community context, looks to make data more meaningful to people.

 

In the business to business sector,  Richard Branson, founder of Virgin Group, no stranger to creating services that authentically connect with consumers, has recently created “The B Team.” The B Team is a not-for-profit initiative formed by a global group of leaders to create a future where the purpose of business is to be a driving force for social, environmental and economic benefit.

 

Another great example that is fuelling the Purpose Economy is “imperative.com,” a service that “works with leaders to boost their ability to bring purpose to their teams, their community and themselves.” The platform offers three core drivers that determine what one needs to be fulfilled in their work.

 

With mega moguls and businesses making strides to strengthen the Purpose Economy, there is no doubt that consumers will soon be able to make meaningful choices in every aspect of their lives.

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