The aim is to deepen the understanding of how trends around value-driven consumption may affect companies’ market strategies and the relationship with customers in the future.
Research shows that consumers more often choose companies that care about social issues and avoid those that do not. This is consistent with what the late Daniel Kahneman 1934-2024, an expert on how people think and make decisions, has said. He believes that we often choose based on our feelings and values, not just on what seems most logical.
Kahneman describes in his book “Thinking Fast and Slow” that we have two ways of making decisions:
• Fast and intuitive (System 1)
• Slow and thoughtful (System 2)
This shows that we are not always as logical as we think.
Young people, especially Generation Z who grew up with the internet and social media, often act based on their values. By 2030, this group will be a large part of consumers.
For companies, it is becoming more important to understand customers’ feelings and values. A company’s reputation and ethical stances now play a greater role for consumers.
Some important values for today’s consumers are:
• Environmental responsibility
• Ethical business
• Animal welfare
• Social responsibility
• Honesty and openness
• Opportunity for personal expression
Swedish Trade has investigated how these trends influence consumer decisions, especially among younger people. The goal is to understand how companies can adapt their strategies to meet these new demands from consumers. By understanding how emotions and values influence purchasing decisions, companies can build stronger relationships with their customers and create more value.
