Many consumers are making purchasing decisions based on the social values of brands.
This is something that should be kept in mind when marketing your brand. For example, the invasion of Russia of Ukraine has generated sizeable public support for Ukraine.
According to a report by Insider Intelligence/eMarketer, 78% of US adult consumers made a purchase decision based on values in the past year.
Citing a study by Survey Monkey, data from March 2021 revealed that 55% of consumers were more likely to buy from a company that shares their values.
According to the report, another 53% of consumers would pay more for a product that supports their social values.