Raising awareness among consumers
A new research by Real World Insight, Real World Insight MediaCom’s research arm, reveals that consumers are increasingly avoiding those brands considered to have the “wrong values”. According to the research, two in five consumers say that they have either stopped using or never use a brand if they do not agree with their corporate values and related behaviour. At the same time consumers reveal that they want large corporations to minimise their environmental impact, while two thirds believe big companies have a responsibility to try to give back to society.
When this raising awareness is applied to the world of precious minerals it calls for enhanced responsivity in sourcing precious minerals, traceability and transparency on behalf of the whole supply chain. But are consumers willing to pay a premium for sustainable jewellery that traces back the provenance of precious metals and diamonds? Apparently yes as almost half of the 2,000 respondents to the survey said they were willing to pay more for a brand that supported a cause that was important to them. This figure rises to 60% in 18-24 year-olds.