Increasing attention to consumer values results in the empowerment of everyone. Race, ethnicity, gender, age, physical abilities, culture and religion, financial position are check points for creating universal design. Consumers value none-size-fits-all products and services, while businesses move from mere compliance to natural development of diverse workforces. This briefing analyses Diversity and Inclusion megatrend through the framework of three major component trends.
This report comes in PPT.
Diversity will grow significantly by 2040. By then, nearly 15% of the global population will be over 65, 50% will be female. There will also be greater representation of different ethnicity groups. Although with growing diversity, consumers realise that every individual is different and stereotypes relating to race, ethnicity, age, gender, sexual identity and disability are gradually fading, they remain among the top widespread issues.
Realising that the population is heterogeneous and everyone belongs to the society raises the need for homogenous inclusion or levelling of the playing field. Consumers request minority empowerment and representation, while companies answer the quest by creating a universal design.
In 2022, one in two consumers stated that they only buy from companies and brands they trust entirely, and one in three mentioned that they prefer brands that align with consumer values. One in four consumers declared to boycott offerings that do not share the same social beliefs, and two in five said they like to engage with brands. Consumers refuse to be silent spectators - they take power into their hands and vote for what they believe.
Consumers worldwide remain sceptical about trusting corporate websites and advertisements, however, they are increasingly inclined to hear and trust the voices of company employees. As consumers vocalise their thoughts and realise the power they hold, they use it to demand authenticity and transparency. The importance of voices within the company has been growing over the past years, making employees a source of authenticity and transparency.
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