[eMarketer] European consumers keen to invest in brands that make positive contributions
European consumers are becoming increasingly conscious of brands offerings beyond marketing and advertising and are keen to invest in companies that contribute to social good.
COVID-19 pandemic has particularly enhanced this notion with brands from China and US losing consumers’ trust in the wake of the virus outbreak. Brands that are hesitant to meet consumer expectations or are seen to have counterproductive actions risk being shunned by consumers.
eMarketer in a recent article has quoted a May 2020 study by GlobalWebIndex that polled European internet users at the height of the pandemic, with 64 per cent of them insisting that brands should carry messages that talk about the virus or anything related to it.
A June 2020 survey in four EU countries and UK by Morning Consult revealed how Chinese brands struggled with consumer trust as the virus continued to ravage the continent in the first half of the year. More than half of those polled in UK and France were of the opinion that the virus had impacted how they looked at Chinese companies.
In US where the virus continued to wreak havoc and the lackluster response by the federal government, the brands recorded a dip in trust from European consumers with 37 per cent of them insisting that they favoured the US brands less as a result of the response to the virus.