Market Research HUB’s new report “TrendSights Analysis: Fairly Traded – Understanding consumers’ attitudes about social justice and brands”, examines what Fairly Traded means as a consumer trend and why it is important, who are likely to be the target audience, how FMCG brands can best capitalize on the trend, and what will be the future outlook for the trend.
The Fairly Traded trend is growing because of consumer concern over harmful business practices in modern supply chains. As a result, this has encouraged the development of alternative trade organizations and business models based on philosophical ideals of social justice, fairness, and welfare. This has created a grassroots movement for fair and ethical business practices to address humane issues such as population displacement, poor working conditions, and exploitation in the FMCG market.
– 40% of global consumers look for products with fair-trade credentials most or all the time when shopping.
– 70% of global consumers have favorable perceptions of grocery products with ethical claims.
– 48% of consumers in developed economies say that they will boycott a brand that does not reflect their values.
– 54% of women, globally, like to buy food and drink products that are reflective of their attitudes and opinions in life.
Reasons to buy
– Understand which audiences are most affected by the Fairly Traded trend.
– Compare the presence of this trend in each industry across the FMCG space, and learn what the key opportunities are.
– See the actions that major brands are taking to get ahead of the greater interest in wellbeing.