Is It Time For Spa and Hospitality to Speak Up?
Yesterday, an important moment in America took place. Humanity won over inhumanity in the trial of Derek Chauvin.
As I read the statements issued by CEO’s for companies such as AT&T, Facebook, Microsoft , LinkedIn, McCormick & Company, Hewlett Packard Enterprise, Wells Fargo and others, I truly wish that I was reading more from the leaders in Spa and Hospitality.
As an industry that is built on the tenets of service and compassion, it is particularly important during times of sea change to make our position known. The world is watching and listening.
Strictly from a business perspective let’s remember that seventy one percent of consumers prefer buying from brands that align to their values. This statistic was unveiled by 5W Public Relations’ 2020 Consumer Culture Report.
Brand Values Alignment
Millennials find buying from companies that share their values even more important. In fact, 83% of this demographic stress the importance of value alignment. And they exercise that conviction when choosing a brand to purchase products or services from.
Twenty one percent of Baby Boomers say buying from brands that share their values and ideologies is important. With Generation Xers, this number rises to 50%. And with the Millennial generation, 62% of those surveyed believe buying from companies that support their own political and social beliefs is important.
The 2020 Consumer Culture Report shows that when marketing to younger consumers, it is important that businesses send the right messages out in so they can align their own values with the customers they are trying to target.
Such is the growing prevalence among consumers to deal with brands that align to their values, that non-alignment can run the risk of consumers shunning certain businesses.