WHY ETHICAL STARTUPS ARE BIG BUSINESS TODAY

Consumer habits are changing as the Baby Boomer generation gives way to the Millennials. This latter cohort of customers born between 1976 and 2004 have grown up in a world defined by online consumerism, and they are the generation that has been the focus of most marketing attention. They have distinct spending habits, using their mobile devices to shop, order and pay for goods and services, and distinctive values. And it is these habits and values that are shaping how ethical and responsible start-ups are quickly becoming the new business model for our times.

Socially responsible consumerism

Back in 2015, Nielsons Global Corporate Sustainability Report highlighted that 73% of millennials surveyed showed they were willing to spend more money on a product from a sustainable brand than one that was not sustainable. These consumers clearly indicated that the people they were going to be spending their money with had to demonstrate ethical and socially responsible practices. This meant sustainable manufacturing and production, socially responsible business standards, and a clear declaration of corporate citizenship. Read more

Belinda Roach - Dynamic Business - 10 Jan 2018