Since 2021, Amazon Ads has conducted its annual Higher Impact study in order to better understand consumer values and how they impact brand preference – and that insights are now more important than ever. After all, consumers are facing a number of challenges, with economic uncertainty primary among them. 

Purpose drives purchase

As inflation rises, more shoppers are becoming mindful of their spending, yet Amazon research shows that consumers still prefer to support brands whose values align with their own.

Over the past three years, shoppers have been increasingly watching their wallets, with 84% of global consumers saying they’re re-evaluating their needs in order to spend more efficiently (a 9% increase from 2022). But, despite being more budget-conscious, seven in 10 consumers (up 11%) say they’ll make a point of supporting brands that donate money or supplies to causes that are important to them. (Italian shoppers led the way in that area at 84%, with Canadians lagging slightly at 68%.) 

Caring for the cause

So, what issues are top of mind? The top-five causes that are most important to global consumers are healthcare/healthcare access (32%), health and wellness (27%), economic uncertainty (23%), environmentalism (21%) and poverty (20%). And when it comes to Canadians, they cite the most important being healthcare/healthcare access (44%), health and wellness (26%), mental health awareness (25%), economic uncertainty (24%) and poverty (19%).

In addition to varying priorities by geography, there are generational differences as well – with Gen Z adults more likely to care about social causes, while millennials, Gen X and boomers thought more about healthcare and the economy.

The study found that 70% of global consumers believe they can vote with their dollars and look to support brands that are good corporate citizens. Meanwhile, eight in 10 (82%) said it was important to support small businesses during times of economic uncertainty, with the greatest agreement coming from older generations (boomers at 85%).

How can brands build trust?

As consumers increasingly support brands that align with their values and support causes that matter to them, brand trust becomes critical. Those surveyed said the best ways for brands to build that trust is through value for money (39%), low prices (26%), quality products and services (26%), and products and services that are consistent and reliable (20%). 

Social and ethical issues also influenced trust, with Gen Z adults ranking employee treatment (14%) higher than other generations. Boomers and Gen Z adults, meanwhile, saw eye to eye on brands when it came to protecting the environment (18% and 17%, respectively) – more so than Gen X and millennials. Globally, nearly eight in 10 (78%) consumers said they were tired of brands acting like they are exempt from environmental responsibility (7% increase YoY), and more than half (52%) said they’re willing to pay more for a product that has a third-party sustainability certification. 

Walking the walk

On the DEI front, more than seven in 10 (73%) consumers say they believe that when it comes to DEI causes, it’s important for brands to back their words with action. That’s up 7% from the previous year, with Gen Z adults expecting more of brands on this front (77%). Consumers appreciate companies incorporating DEI into their core product or service offerings and expect them to take real action in communities. Corporate commitments to DEI rank highest with younger generations (77% for Gen Z adults, and 75% for millennials). In Canada, the top four areas of concern when it came to DEI were racial equity (35%), gender (28%), age (23%) and income equality (20%).

As brands look to make deeper, more authentic connections with consumers, they need to consider the gamut of influences affecting shoppers. While economic uncertainty has made them re-evaluate their spending, values still significantly factor into consumers’ decision-making. Now is the time for brands to clearly demonstrate their commitments through authentic actions, and show how they are aligned with those values.

To read the full Higher Imact study results by Amazon Ads and Environics Research, click here.

Enjoyed this article? Learn more about how you can stay ahead of the curve in The Future of Marketing