Trends, trends, trends! Says so much about what’s in store for all of us. With the rise of conscious consumerism, shifts in behavior are continuously happening. So, what are the changes that we can expect? And, how do they fall into what it means to be a purpose driven brand?
According to WGSN, these are the trends that the industry can see in 2023:
1. The rise in demand for proactive products and business practices.
2. The rise in demand for long-lasting, reusable, and circular products which save costs and reduces waste.
3. Preference for brands that prioritize consumer wellness vs. just marketing gimmicks.
4. Focus on transparent and sustainable ingredients and more importance on customisation and flexible design.
5. Customer collaborations to shape the future of product development and brand values to be prioritized over brand name.
What consumers are looking for today, goes beyond just product and brand name. They look for values that resonates with them, they look at what the brand stands for, and what their mission and vision is. It is equally as essential to these consumers that they create a positive impact in the world and not only the quality of the products that they represent.
To give an example, some brands have campaigns wherein they pledge products purchased with an equal donation to a child in need, while some others manufacture with underprivileged communities to support and empower them. While all causes merit equal attention, each consumer can connect differently to different initiatives.
In short, a good way to understand if a brand is purpose-driven or not, is to know more about them through their,
- Mission statement
- Company/brand vision
- Whom are they targeting through their communication?
- What and how do they support the community or the environment at large.
For us at Beauty Binge here are some of the core aspects of how we consider ourselves to be a purpose-driven team.
- Making clean & conscious beauty accessible to all, inclusivity in all ways possible.
- Driving awareness and educating on the importance of clean living, ethical sourcing, sustainable living and supporting environmental causes by partnering with companies like RECAPP and working with brands that serve a larger purpose.
- Empower all, regardless of gender or age.
Would love to hear your thoughts too, please share in comments below.