Fast Company predicted 2022 would bring “a great reckoning for corporate purpose.”
Employees left companies based on differing values, and consumers boycotted brands based on social stances and values.
Whether or not there’s been a true reckoning, brands face pressure to show they care about more than turning a profit. Study after study shows consumers want to know and adjust their spending based on brands’ values.
But stating values isn’t enough. Consumers won’t stand for “purpose-washing” brands (appearing committed to a social issue without actively supporting it or, worse, acting in conflict with it.)