The tumultuous events of 2020—including the global pandemic, recession, and Black Lives Matter protests—have exposed deep flaws in US society and disillusioned many consumers, especially younger ones.
Facing a lack of confidence in government and traditional institutions, these consumers now expect the private sector to confront today’s pressing crises and advocate for change.
Not only are consumers increasingly loyal to brands that support causes they care about, they’re less likely to buy from those that don’t. In June 2020, Mindshare found that 68% of US adults believed brands should speak out against racial inequality and injustice, while Visa found that 75% of millennials would support businesses and causes in response to social justice protests.
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