The Consumer Goods Forum’s Global Summit, Vancouver, Canada, June 13, 2019 - #CGFSummit
VANCOUVER, 13 JUNE 2019 -- Today, The Consumer Goods Forum and the global change agency Futerra launch new consumer research from the USA, UK, India and South Africa revealing a striking difference between what Millennials (23-38 years old) and Gen Z (22 and under) believe about the honesty of brands and retailers.
The survey revealed that in the US & UK, 66% of Millennials think that brands are never honest, or not honest enough about environmental issues, which leaps to 79% of Gen Z. For the treatment of factory workers, 69% of Millennials think that brands are never honest, or not honest enough, with a staggering 84% of Gen Z feeling the same. India follows the trend, with 59% of Millennials thinking that brands are never honest, or not honest enough on worker treatment, increasing to 82% of Gen Z.
The research also reveals that while almost 90% of Millennials and Gen Z personally care if they receive honest information about products, only 42% of Gen Z think that brands care about providing that honest information (the number is 66% among Millennials). This overwhelming demand for honesty led Futerra to name Gen Z “The Honest Generation”.
The survey contains good news for honest brands. 58% of both Millennials and Gen Z would trust a brand more if it shared challenges and ‘work in progress’ on difficult issues. And nearly half (46%) of Gen Z say they search out more honest products when purchasing.
Launching the research at The Consumer Goods Forum’s Global Summit, Solitaire Townsend, Co-Founder of Futerra, said: “Millennials drove brands to be purposeful, but Gen Z are demanding proof. This generation were raised to question fake news, be suspicious of secrecy and hold sincerity as sacred. They are the Honest Generation and their appetite for radical transparency on social and environmental issues is growing. They don’t expect brands to be perfect, but they do expect them to be truthful. Those CEOs with the courage to be open will be rewarded, but brands who hide will risk being forgotten.”
Peter Freedman, Managing Director of The Consumer Goods Forum, said: “With Gen Z predicted to become the biggest generation in 2019 at 32% of the population, it is crucial for brands to swiftly improve transparency on the social, environmental, health, and safety of their products, in order to build back trust and thrive with the largest consumer segment in the world.”
This research builds on The Honest Product Guide, launched in November 2018 by The Consumer Goods Forum and Futerra, which revealed that product level transparency (rather than corporate reports) was the major demand from consumers, and also offered a wealth of examples and tools for how to meet that need.
Further insights are available on perceptions of different sectors (baby/cosmetics/food etc), on the specific issues that Gen Z want to see brands be more honest about, and on the role of retailers.
The Consumer Goods Forum and Futerra commissioned the online survey of 2,400 across the UK, US, India, and South Africa in June 2019. All the detailed findings and more guidance on how to inspire The Honest Generation will be published later in 2019.
Futerra is a global change agency with offices in New York, London, Stockholm and Mexico City. Established in 2001, Futerra works with the world’s largest brands, breakthrough entrepreneurs and national governments on the logic of sustainability strategy and magic of creative ideas. Futerra believes that, in order to build a better world, we must first imagine one. The company is majority female owned and a certified BCorp. www.wearefuterra.com
About The Consumer Goods Forum
The Consumer Goods Forum (“CGF”) is a global, parity-based industry network that is driven by its members to encourage the global adoption of practices and standards that serves the consumer goods industry worldwide. It brings together the CEOs and senior management of some 400 retailers, manufacturers, service providers, and other stakeholders across 70 countries, and it reflects the diversity of the industry in geography, size, product category and format. Its member companies have combined sales of EUR 3.5 trillion and directly employ nearly 10 million people, with a further 90 million related jobs estimated along the value chain. It is governed by its Board of Directors, which comprises more than 50 manufacturer and retailer CEOs. For more information, please visit: www.theconsumergoodsforum.com