Today, millennials are experiencing product overload – the feeling that their wardrobes are stuffed full of useless goods.
“Rather than owning a thing – whether that's a piece of music, a movie or a car – people prefer access, through services like Zipcar, Spotify and Netflix,” explains James Wallman, author of Stuffocation.
“Rather than show off through physical goods, like previous generations used to, they are expressing their identities and getting status through experiences they can share through social media.”
As a result, they’re expecting more from brands and in our survey results show that they lean heavily towards ethical issues: 82% are concerned about the disposability of consumer goods, and in response brands need to start thinking as ethically as their customers.
Services to help consumers find brands that share their concerns are already appearing. For example, is an app that presents users with a short questionnaire, and based on their answers, matches them to businesses that share their values, while Provenance.org allows makers, retailers and consumers to upload information about products.
We’re also seeing the emergence of brands, who base their business models around doing the right thing. “Wonderful, socially-made products should be a source of pride, but also a way of engaging friends and families into a wide-reaching conversation about how individual actions can contribute to wide-ranging results,” says Hugo Lamb, founder of 12 x 12, a store in Melbourne curating a selection of ethical goods. Every 12 weeks, 12 retailers are invited to sell their wares in the shop, the common thread linking them being their insistence on using sustainable, ethical and environmentally friendly production methods.
Founded in Brooklyn, <100 (meaning 'less than 100') is a pop-up store which tours the US, providing a platform through which local female artists can sell their creations. To draw attention to the fact that in some US states women are, on average, paid 76% of what men earn, female shoppers only pay 76% of the total price, while their male counterparts must pay the full price.
The takeout? A new generation of consumers care about these issues and are willing to invest in brands and products that share their values. A new generation of consumers care about these issues and are willing to invest in brands and products that share their values
It's Time To Stop Product Overload
Discussion