What does it mean for marketers?
Marketing has always walked a tight line between satisfying customer needs and stimulating sales. These interests mostly align, but not so much so when it comes to the underconsumption trend.
Although some experts find that underconsumption is unlikely to change deep-rooted consumer behavior, marketing teams, especially those working in the clothing industry, the makeup industry, and home goods and drinkware brands, might need to re-examine their strategies.
People are increasingly more worried about climate change. Perhaps that is why they are ready to support brands that align with their values, and they do vote with their wallets.
Research has found that products that make environmental, social, and governance-related claims show a bigger sales growth than products that don’t. Younger generations, who will soon have the most purchasing power, especially care about sustainability. They are 27% more likely to purchase from brands that care about their impact on people and the planet. If we’re talking about marketing specifically, research has found that anti-consumption ads positively influence consumers’ attitudes and purchase intentions.
All of that means that orienting towards underconsumption and sustainability at large can actually have a positive impact on your business.