The shift towards purpose over profit
The growth in consumer consciousness has long been forcing brands to rethink the way they do business.
While millennials continue to demand their favourite activewear with a side of activism, the shift in wellness brands prioritising purpose over profit is now playing a key role in shaping wider business models.
In a survey by Deloitte, 88% felt today’s businesses were having a positive impact on the planet, while 62% believed most business leaders were helping to improve society.
And the benefits don’t end there. In addition to saving both time and money by attracting and retaining the best workforce, startups which demonstrate ethical practices are setting themselves apart, while established brands which focus on ‘improving people’s lives’, are outperforming their competitors.
It seems clear that fair practices and strong core values really do make sound business sense.
Laura Hill is Senior Editor and Wellness Trends Expert at Well To Do London